Pentax 2009 Annual Report Download - page 50

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0
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–50,000
–20
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48 HOYA Annual Report 2009
Pentax
Sales in the Pentax divisions totaled ¥122,190 million. Pentax’s results
have been included in Hoya’s consolidated results since the second
half of the previous fiscal year (the six-month period from October 1,
2007 to March 31, 2008). For reference, sales decreased 30.1% com-
pared with the whole of the previous fiscal year, including the six
months prior to consolidation.
In the Lifecare business, the “i” series of megapixel-image-
capable endoscopes continued to enjoy strong sales growth in North
America and Europe. In Japan, the series was launched in May 2008,
and transnasal endoscope sales were strong. However, overseas sales,
which account for the majority of all sales, were affected by the yen’s
appreciation, resulting in a decrease in sales year on year.
In the Imaging Systems business, the entry-level digital SLR
PENTAX K-m was launched in October 2008, and the compact,
water-proof digital camera PENTAX Optio W60 was brought to
market in June 2008. Despite promoting these unique products
incorporating Pentax’s technologies, stiff price-based competition
from other manufacturers and the strong value of the yen, as well as
lower demand caused by the economic downturn, led to a year-on-
year decline in sales.
The Lifecare business contributed to profit; however, due to a
slump in the Imaging Systems business and amortization of goodwill
recognized from the management integration, the Pentax division
recorded an operating loss of ¥11,572 million.
Other
The Crystal Glass business was one of the Hoya Group’s major sales
growth drivers after 1945. However, this business peaked after the
collapse of the bubble economy in 1991, and sales have decreased
since. In order to deal with slow corporate demand and low-priced
competing products, Hoya implemented structural reforms. Notwith-
standing these reforms, with worldwide consumption slowing as a
result of the economic crisis, further deterioration of results was
expected. Therefore, as part of measures to strengthen the Group’s
operations and improve profitability, Hoya discontinued this business
on March 31, 2009.
Hoya’s Service business involves the construction and opera-
tion of IT systems for companies throughout the Hoya Group, as
well as outsourcing.
(%)
(Millions of Yen) 2007 2008 2009
n Net sales for the
12-month period 157,344 174,720 122,190
Of which, net sales for the
6-month period following
consolidation
— 89,032 —
n Operating income for the
12-month period 5,653 3,202 –11,572
Of which, operating income
for the 6-month period
following consolidation
— –134 —
Operating margin for the
12-month period 3.6 1.8 –9.5
Of which, operating margin
for the 6-month period
following consolidation
— –0.2 —
Assets — 204,853 141,022
Depreciation — — 13,246
Captal Expenditures — — 5,119
Note:
Pentax was added to the scope of consolidation as of August 14, 2007. Perfor-
mance for the 12 months prior to consolidation are shown in italic type for
reference in comparing against past performance. Figures for the 12-month
period ended March 31, 2008 comprise the total of the six months prior to
consolidation and the six months following consolidation.
Pentax Each Year ended March 31
Management’s Discussion and Analysis
(Millions of Yen)