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Fiscal 2011 Business Overview and Results Outlook for Fiscal 2012
Fiscal 2011 Business Overview and Results
By the second half of 2009, the LCD panel market had made a
remarkable recovery from the previous year’s Lehman Shock.
In the first half of 2010, however, momentum stalled due to
factors such as inventory build-up. Growth resumed in the
second half amid robust demand for smartphones, tablet PCs
and other mobile devices.
Low-temperature polycrystalline silicon (LTPS) and organic EL
panels are used in smartphone displays, and this migration
toward these higher-resolution panels is creating increased demand for high-end, high-quality
photomasks. The year under review was expected to be the “breakout year for 3D,” but that title
seems likely to be conferred on 2011 or later years, as sales have not risen to the extent
anticipated.
Under these circumstances, Hoya as a leading manufacturer of photomasks for LCD panel
production strove to supply products catering to the every need of its valued customers. Square
measurement shipment volume of photomasks grew strongly as a result in the year under
review. In monetary terms, however, sales rose only slightly as price declines continued
unabated.
Meanwhile, specialty masks came to occupy an increasingly large share of the photomask
market. In fiscal 2011 such masks accounted for roughly 30% of Hoya's photomask sales, or
double the level from the year before. Such value-added growth in sales composition went some
way to offset the decline in prices.
Outlook for Fiscal 2012
Demand for smartphones and tablet PCs is expected to continue expanding in 2011, and
although these mobile devices feature small displays, the photomasks used command a higher
price per square measurement than those found in televisions. Hoya aims to tap growing
demand for such products by developing technologies for high-performance photomasks
delivering higher resolution. Ultimately, the Company expects these technologies will be
employed in televisions also.
In response to increasing demand for higher-spec photomasks in Japan, Taiwan, and South
Korea, Hoya is also working to share information and integrate functions across its bases in all
three countries. Concurrently, the Company is analyzing the medium-term market outlook with a
view to creating a clearly defined roadmap and manufacturing products that accurately meet
market needs.
Photomasks for LCD Panel
production
ANNUAL REPORT 2011