Pentax 2011 Annual Report Download - page 20

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materials for use in medical procedures. This segment is typically required to obtain approvals
and permissions in accordance with the Pharmaceutical Affairs Act in Japan and other
regulations. As a result, sophisticated technologies and highly reliable quality control systems
are critical for smooth business operation in this sector.
The Other Businesses segment mainly offers information system services, and takes charge of
new businesses.
Net Sales
In the fiscal year under review, the global economy saw a measure of recovery, mainly in
emerging nations. However, the economic outlook for the U.S. and Europe remains clouded. In
Japan, the continued strength of the yen has produced an elevated sense of caution, especially
among exporters. To make matters worse, the Great East Japan Earthquake that struck on
March 11, 2011, together with the resulting crisis at affected nuclear power plants, have
combined darken the mood, not only in the affected regions, but indeed the entire Japanese
economy.
A
gainst this backdrop, the Hoya Group's production and shipments increased year on year
owing to growth in orders accompanying the markets’ recovery. However, sales were
significantly affected by lower product prices and the strong yen. Hoya was also affected by
quake related damage at both customers and suppliers, and by a decline in shipments enforced
by production stoppages at some of its own plants.
A
s a consequence, consolidated net sales amounted to ¥413,349 million, up ¥10,920 million
(2.7%) year on year. By principal business segment, net sales increased 3.9% year on year in
the Information Technology business, and rose 1.9% year on year in the Life Care business.
By customer region, net sales to customers in Japan increased 5.1%, to ¥160,210 million, while
net sales to overseas customers grew 1.2%, to ¥253,139 million. As a result, the composition of
net sales was 38.8% domestic and 61.2% overseas.
In currency markets during the fiscal year under review, the yen rose 8.0% against the U.S.
dollar, to ¥85.22, 13.8% against the euro, to ¥112.61, and 0.4% against the Thai baht, to ¥2.74
compared with the previous year. For the Group overall, exchange rates reduced net sales by
¥
17,324 million. If converted using the previous fiscal year's rates, net sales would have
increased by ¥28,244 million (7.0%) year on year.
Sales