Pentax 2011 Annual Report Download - page 48

Download and view the complete annual report

Please find page 48 of the 2011 Pentax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 68

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68

tests. Hoya will strive for another substantial expansion in U.S. market share, once it receives
regulatory approval to launch these products.
Meanwhile, back in Japan, Hoya captured a 30% market share and was all but about to overtake
its competitor in first place. In fact, Hoya had already overtaken this competitor as the top
supplier in the market for IOL among ophthalmology clinics in Japan. Leveraging its key
attributes of agility and expertise, Hoya is now just a few steps away from gaining the top overall
share of IOL (for both hospitals and clinics) in this market.
Business was also strong in the emerging markets in Asia, where Hoya’s earnings on IOL grew
anywhere from 20% to 30% in China, India, Australia, Thailand, Singapore and South Korea.
To accelerate the global development of this business, Hoya’s IOL Headquarters was moved to
Singapore at the end of the consolidated 2011 fiscal year. For seven years, Hoya had a very big
and important operation in Singapore for manufacturing all its IOL. Consolidation of the head
office functions and R&D center for IOL in Singapore, also, will enable Hoya to take advantage
of all possible business efficiencies. This will be a move strategically important to the uniqueness
of Hoya’s business, as the other three major IOL competitors are all based in the U.S.
Outlook for Fiscal 2012
Developing this business further in all major markets spanning
the U.S., Japan, Western Europe, China, India and other
emerging markets will be a top priority in fiscal 2012. Along with
iSert™, Hoya will expand the launch of its groundbreaking
iMic1™ series of preloaded IOL systems into these new
markets.
Hoya will continue to focus its R&D and Commercial teams into two key areas; the development
of lens optics that provide enhanced vision and lens delivery systems that minimize patient
recovery thru micro-incision surgery. Hoya will leverage these technologies to promote global
business growth in the premium IOL market.
In addition, the Company made a strategic investment in a Swiss company named Adoptics AG
in 2010, for the aim of developing and launching an accommodative IOL in the Hoya brand. An
accommodative IOL changes shape in response to pressure in the eye, when the muscles in the
eye move. This will correct presbyopia, or farsightedness caused when, with age, the human
lens in the eye loses accommodation, or the elasticity to change shape and focus on different
distances. Although still a number of years away from approval, this is an epoch-making product
that will literally change ophthalmology, mentioned here as an example of Hoya’s tremendously
rich product pipeline.
*:Lathe cutting is a manufacturing process which fabricates lenses precisely one by one from
button shaped materials using a computer controlled machine. In Hoya, a cutting-edge line
combined with pad polishing and tumble polishing processes is used to achieve sharp edge and
smooth optic surface.
ANNUAL REPORT 2011