Pentax 2010 Annual Report Download

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Onwards and Upwards
ANNUAL
REPORT
2010
For the Year Ended March 31, 2010

Table of contents

  • Page 1
    ANNUAL REPORT For the Year Ended March 31, 2010 2010 Onwards and Upwards

  • Page 2
    ... Company Director, President, Representative Executive Officer and CEO of the Company (present post) Fiscal 2010, the year ended March 31, 2010, was a difficult period for business, marked by a global economic slump that followed the financial crisis in the US. However, as Hoya struggled to address...

  • Page 3
    ...of contact lens specialty stores, is expanding steadily in Japan with the opening of new stores. However, in order to derive the maximum benefits from this chain store strategy, Hoya intends to accelerate the pace of new store openings and thereby increase market share. Our intraocular lens business...

  • Page 4
    ...products through a unique sales channel strategy. In the two years since Hoya acquired Pentax, the business has been reorganized to achieve a better fit with Hoya´ s management strategy, with Pentax operations restructured into three segments - medical endoscopes, digital cameras and other products...

  • Page 5
    ... Inc. of the United States Representative partner of Revamp Corporation Executive Chief Operating Officer of the Company (present post) Director of the Company (present post) Extensive structural reforms have made Hoya a slimmer, more muscular competitor Fiscal 2010 was my second year as the COO of...

  • Page 6
    ..., sex or ethnic background. We also are developing a thorough training structure to ensure that each employee can realize their full potential. (2) Improvements to IT Infrastructure Hoya has a long track record of using technology to help enhance productivity, but a careful survey of our global...

  • Page 7
    ... the lead and work closely with employees worldwide, as well as dealers and customers in each region, doing my utmost to guide our businesses on an expanding course. Continued efforts to enhance value Over the past year, Hoya has implemented structural reforms to improve profitability, making the...

  • Page 8
    ...in digital equipments such as personal computers, LCD televisions, digital cameras and mobile phones, as well as cuttingedge glass memory disks and optical lenses to support the miniaturization and enhanced functionality of those products. Hoya maintains a large global share of each of these markets...

  • Page 9
    ... market share in Japan. Share of net sales Net Sales Operating Income / Operating Margin The Health Care Division is responsible for the development of the over 170 Eye City stores, Japan's largest chain of contact lens specialty stores. It also manufactures and sells intraocular lenses (IOLs) used...

  • Page 10
    ... the expectation that medical care will progress and the market will grow in the long-term. In cameras, the Company is working to develop unique products based around the globally recognized PENTAX brand. Share of net sales Net Sales Operating Income / Operating Margin HOYA Annual Report 2010 9

  • Page 11
    Business Overview Elec -O ic ivi i F T O R R& M ' R& T O F R& R& R& F ; T M OY R 10

  • Page 12
    ... number of companies engaging in advanced development is on the decline as more and more companies seek to reduce costs by using general-purpose parts to produce devices. Against this backdrop, Hoya's photomask business intends to expend every effort to supply customers with high-quality photomasks...

  • Page 13
    Business Overview Elec -O ic ivi i F O R T T " " ' T T T O F M OY R 12

  • Page 14
    ... 2011 is expected to bring continued growth for the HDD market, mainly in demand for use in notebook PCs. In order to respond to strong demand growth going forward, Hoya plans to both reinforce its existing factories and build new manufacturing facilities in Philippines and Vietnam. The Company...

  • Page 15
    ... between adjacent tracks. It is expected that this will enable higher areal recording density. 2 In this method, lasers are used to locally apply heat to the recording medium before writing to reduce the magnetic coercive force. Mold for Discrete track recording media HOYA Annual Report 2010 14

  • Page 16
    Business Overview Elec -O ic ivi i F O ' R 9 T T ' T M F O F FF W OY R 15

  • Page 17
    Business Overview F O T R O O 9 M T R O F T OY R 16

  • Page 18
    Business Overview Vi i a e ivi i F O R M ' T M ' M T T ' T ' M F F T F T F R M R ; R 9 R 5 O T T O T T 9 ; T 17

  • Page 19
    T O T F % T F T T OY R 18

  • Page 20
    Business Overview Heal a e ivi i F O R ' T ' 6 M T 5 O 5 O T F W W W O T OY O 19

  • Page 21
    ... iSertâ„¢ in Korea in January 2010, and plans to follow up with launches in India. Both iMics1â„¢ and iSertâ„¢ contribute to ophthalmological medicine by providing not only high-quality, precision lenses, manufactured using Hoya's outstanding proprietary optical technologies and materials, but also...

  • Page 22
    ... American market in 2009 that launched full-fledged global development, Hoya will work to increase its market share in developed countries while opening up markets mainly for high-end products in China, India and other emerging economies in order to capture global market share. In line with this...

  • Page 23
    ... VNL-90s has an outer tip diameter as narrow as 3mm, while still retaining the high image quality of conventional scopes. With regard to image processing, the Company upgraded the software for its EPK-i high-resolution endoscope system, and added a new "twin mode" which improves on the observational...

  • Page 24
    Business Overview PENTAX F O T R ' R M R M M R M O O TY O 9 R F 9 M T ' O T F T OY R 23

  • Page 25
    Business Overview PENTAX F T T O R 9 R T T T R T O T T 9 " T R T " 9 T M T R T 645 T 645 9 O T F W T 24

  • Page 26
    M R T ' & R 55 M F T 55 55 M R R & 55 M R OY R 25

  • Page 27
    Business Overview PENTAX OY F T O R W ' O F F T W OY R 26

  • Page 28
    ... the global headquarters at Hoya Corporation, yet with their own management responsibility. Each region? North America, Europe and Asia?has its own headquarters, which focuses on enhancing relations with the countries or regions of its operations, as well as supporting business promotion activities...

  • Page 29
    ... rates. For the Group overall, exchange rates reduced net sales by ¥15,547 million, operating income by ¥3,618 million, and net income by ¥3,290 million. Net Sales Sales to Domestic and Foreign Customers(Based on the location of customers) Please go to Business Overview for more information 28

  • Page 30
    ... Electro-Optics Division declined as a result of lower shipment volumes and a significant decrease in sales due to falling product prices, which could not be offset by efforts to reduced fixed costs, earnings were up in the Vision Care Division and Health Care Division, and at Pentax profitability...

  • Page 31
    Operating income/Ordinary income/Net income Profit Ratios Profitability 30

  • Page 32
    ... per share Results by Region In Japan, the Electro-Optics Division recorded decreases in both sales and earnings because of falling unit prices for products and declining sales volume. In the Vision Care Division as well, both sales and earnings fell as a result of the protracted market slowdown...

  • Page 33
    ... Electro-Optics Division. As a result, net sales in Asia totaled ¥41,379 million and operating income came to ¥34,133 million, both lower year on year. Sales by Region(Based on the office location) Sales Growth and Profitability of Main Business Segments (Fiscal Year Ended March 31 2010,(compared...

  • Page 34
    ..., due in part to a decrease of ¥8,360 million in machinery and transportation equipment. Total liabilities were down ¥54,822 million from the previous fiscal year-end, to ¥198,264 million. Although notes and accounts payable-trade increased by ¥3,571 million, commercial paper declined by ¥41...

  • Page 35
    ... Care Division, the company invested to boost production capacity, centering on Asian production plants with a view to expanding eyeglass lens production volume. Depreciation and amortization costs for the fiscal year under review decreased 31.0%, to ¥34,503 million. The Electro-Optics Division...

  • Page 36
    ... products and increased production in the Electro-Optics Division. Net cash used in financing activities amounted to ¥84,976 million, an increase of ¥79,176 million from the net cash used in the previous fiscal year. This was mainly due to a net decrease of ¥41,978 million in commercial paper...

  • Page 37
    ...hard disk glass media manufacturing business and related assets operated by Hoya Corporation and HOYA MAGNETICS SINGAPORE, PTE LTD., its wholly owned subsidiary, to the U.S. company Western Digital Corporation as of June 30, 2010. The hard disk market is expected to continue to see high growth going...

  • Page 38
    ... be used to create the discrete track recording (DTR) media and bit pattern media (BPM) for next-generation hard disk drives (HDDs). Various HDD manufacturers are pursuing R&D to commercialize this technology as early as possible, and Hoya has launched shipment of samples. In BPM, Hoya has succeeded...

  • Page 39
    ...PON2, a high-speed optical communications standard. By building a functional device on top Connectors for optical of a wafer, Hoya has succeeded in creating products that are communications significantly smaller than existing products. In fiscal 2010, the Company received approval from customers and...

  • Page 40
    T O ' O T R T T O ' T ' T W T T T - 39

  • Page 41
    ' T T - - ' R 4 5 O % 4% 9 O 5 % O ' 4 4 % 6% T % F T T R T 5 % 9 M OY R 40

  • Page 42
    ... Executive Managing Director and Representative Director of Kikkoman Corporation Executive Vice President and Representative Director of Kikkoman Corporation President and Representative Director of Kikkoman Corporation Director of the Company (present post) Representative Director, Chairman and CEO...

  • Page 43
    ... Corporation USA Director of the Company Managing Director of the Company Managing Director of the Company President, Electro Optics Company Executive Managing Director of the Company President and Representative Director of the Company Director, President, Representative Executive Officer and CEO...

  • Page 44
    Executive Officers Hiroshi Suzuki2 Hiroshi Hamada2 Kenji Ema2 Taro Hagiwara 2 indicates Director President & CEO Executive Officer & Chief Operating Officer Executive Officer & Chief Financial Officer Executive Officer, Technology HOYA Annual Report 2010 43

  • Page 45
    Corporate Governance M O M ' ' O 9 T ' - W ' T ' ' ' ' OY R 44

  • Page 46
    ... the Company merged its environmental protection and occupational safety and health systems, abolishing both the Environmental Management Regulation and the Conference of the Environmental Office. Environmental protection activities are now carried out under a new system headed up by the Hoya Group...

  • Page 47
    ... popular contact lens product. At the Eye City contact lens specialty chain operated by the Eye Care Division. In fiscal 2010, Hoya began the Eye City ECO Project, in which all 168 stores collect empty cases from customers' used lenses for recycling. The empty cases collected from around the country...

  • Page 48
    ... to raise the quality of recycling at these facilities. (4) Promoting separation of waste at overseas facilities Hoya is continuously expanding the scope of waste separation at its overseas facilities. In fiscal 2010, the facility in Hungary installed PET bottle compression equipment and established...

  • Page 49
    ..., Hoya has been introducing ISO 14001 environmental management systems both in Japan and overseas, with focus on production facilities. Group-wide, a total of 42 sites (13 domestic sites and 29 overseas sites, as of March 31, 2010) were certified under ISO 14001 standards. HOYA Annual Report 2010...

  • Page 50
    Environment, Health and Safety M M M M M M M M 49

  • Page 51
    M Y 50

  • Page 52
    Environment, Health and Safety Health Promotion Activities M ' M M W 6 M 44 O M M 9 M T OY R 51

  • Page 53
    ...to fluctuation of exchange rates and interest rates, international situations, market trends and economic conditions, competition, production capacity and research and development capabilities and so on. Please refer to Business Risk . The information posted on this HOYA Annual Report website is not...