Pentax 2008 Annual Report Download - page 7

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New Structure of the Hoya Group
HOYA
Strategic
Business
Units
PENTAX
Health
Care
Vision
Care
Optics
Memory
Disks
MasksBlanks
Optical
Components
Imaging
Systems
Life Care
Global Headquarters
store openings, due to the influence of medical fee reforms.
However, the chain attracted more customers and realized higher
revenues at existing stores, as a result of further improvements in
management efficiency and enhanced marketing activities. We
see this as a year where we widened our lead over our
competitors despite the inclement business climate.
Pentax
Pentax Corporation—which became Hoya’s consolidated
subsidiary in the second half of the fiscal year—posted net sales of
¥89.0 billion and operating loss of ¥134 million. The EPK-i series
endoscope system that went on sale in the United States in May
2007 contributed to the sales increase. Also making a substantial
contribution were sales of the digital SLR camera Pentax K10D,
which earned three major global camera awards, evincing its
strong popularity in Japan and other countries.
In the half-year following consolidation, the Company
reaffirmed the promise and growth potential of medical
endoscopes as key devices essential to the medical field. Going
forward, we expect doctors’ needs to become more sophisticated
and complex, encompassing the ability to not only view the
inside of patients’ bodies, but to actually diagnose and treat the
abnormalities discovered. We are proceeding with expansion in
the medical endoscope field, including treatment tools for use
with endoscopes, and other peripheral equipment.
Concerning the digital camera business, we are focusing on
digital SLR cameras, targeting mainly high amateur users, and some
business segments are already experiencing numerical performance
gains thanks to business narrowing and selection, strategic
product mixes and the establishment of new sales channels.
Our initial goal is to boost the operating margin of the Pentax
businesses—primarily medical devices and digital cameras—
non-inclusive of goodwill expenses, to 18% for the next three
years.
Outlook and Priority Measures for Fiscal 2009
Hoya expects to see ongoing severe external conditions
surrounding each of its businesses in the year ahead. In the global
economy as well, the U.S. subprime loan problem is spilling over
into Europe and Asia. The Hoya Group does not consider itself
immune to the influence of such externalities. However, far from
indicating any kind of loss of competitiveness, we believe the
Company has the muscular financial position and business
structure to maintain a degree of strength even in somewhat
adverse circumstances.
Each of the Company’s businesses are currently operating
well in comparison with one year ago, and these results are
manifesting in quantitative performance gains as well. In each
business, we have revised our operating structures to optimize
simplicity. These changes should enhance our ability to respond
HOYA ANNUAL REPORT 2008 5