Pentax 2011 Annual Report Download - page 5

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Life Care
In the Life Care segment HOYA achieved growth in overseas markets.
The eyeglass lens business saw the domestic market start to recover as Japan's deflationary
economy began to bottom out. We aggressively entered emerging markets, and the business
grew faster than the market average.
In the Eyecity contact lens specialty store business, we succeeded in capturing a new customer
segment by focusing on online promotions. With a product lineup that takes advantage of the
chain's top share of the retail market, Eyecity proved to be overwhelmingly effective at acquiring
customers.
In the area of intraocular lenses used in cataract surgery, new pre-loaded products enjoyed
steady growth, and we increased our share even in our main market of Japan. We were also
successful in steadily expanding market share in the U.S. and emerging market countries.
In endoscopes for medical use, sales slowed temporarily due to the impact of medical reforms in
the U.S., but signs of a recovery became apparent in the second half. There was marked growth
in emerging market countries, and we were able to build a foundation for regional development
going forward.
In 2010, HOYA formulated five restructuring initiatives as a strategy for future growth.
Specifically, the strategy consists of enhancing our core competencies in globalization
technological prowess and accelerating HOYA's growth through 1) human resource training and
diversification, 2) IT infrastructure upgrades, 3) market-driven business expansion, 4) faster
penetration of emerging markets, and 5) efforts to enhance customer satisfaction.
None of the initiatives are meant to be completed in a single fiscal year; they are intended to be
carried out over the medium-to-long term. Our achievements in the fiscal year ended March 31,
2011, however, showed competence and we got off to a good start.
A
s a case in point in human resource diversification, the intraocular lens business relocated its
global headquarters to Singapore for reasons that include a diverse talent pool, as well as
infrastructure stability. Globalization was also promoted in the endoscope business by hiring
talented people from countries around the world.
To upgrade the Group’s IT infrastructure, a new officer in charge of IT was appointed, and we
began globally integrating our IT infrastructure. Upgrades to IT infrastructure will be accelerated
at the global level from the standpoint of business continuity planning as well.
A
s mentioned earlier, we made steady progress penetrating the emerging markets during the
year under review. We will continue to build on this success, not only in Asia, but in a broader
spectrum of emerging markets.
In addition to the above initiatives, we identified two new priorities for the fiscal year ending
March 31, 2012: 1) formulate a more in-depth business continuity plan, and 2) develop
innovative products.
Five Initiatives for Restructuring Got Off to a Good Start
New Priorities to Create Even More Definitive Value