Pentax 2010 Annual Report Download - page 4

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business rivals, and we will strive to establish a competitive edge by providing distinctive 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. We expect the merits of this business integration to become steadily more apparent in the future.
The economic dislocation and confusion which followed the collapse of Lehman Brothers is gradually fading, and the
global economy moving back towards normalcy. Still, major global changes are very likely to continue, and as a
corporate manager, I consider it crucial to repay the trust and confidence invested in Hoya by its shareholders by
anticipating and responding to the changing environment with decisive yet carefully considered actions. I believe that
business conditions in fiscal 2011 will be considerably better than last year, and the challenges that each of our
businesses face will become clearer. On behalf of the entire Hoya management team, I want to assure stakeholders that
we will carefully consider all the risks, and try to chart a course for even greater success in the future.
Closing Thoughts
In today´s world, a company must constantly seek ways to justify its existence by contemplating the value that it provides
to society and how it can satisfy the needs of the communities in which it operates. Naturally, these considerations must
evolve in accordance with the changes taking place in society itself, and the value a company creates must be flexible
enough to respond to these changes. Globalization is one example of such a change; Hoya must decide where and how
it can manufacture products most efficiently, where we can sell the most of products, and how we can generate the
greatest value from their sale. In order to maximize all of these factors, we will need to build a global organization that
has the optimal production locations and the optimal sales channels.
During fiscal 2010, Hoya was forced to slam on the brakes. However, since all Company employees understood the
challenges and conditions we faced, and followed management´s decision to implement them swiftly, we were able to
pull through the difficult adjustment period successfully. Now it is time for the Company to focus its energies on
accelerating smoothly into the next phase of growth.
I want to thank Hoya´s customers and shareholders for their understanding, and welcome their continuing support as we
move towards a brighter future.
HOYA Annual Report 2010
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