Pentax 2012 Annual Report Download - page 54

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Ayutthaya plant flooded
With the global demand for high quality lenses and the increasing competition in
the ophthalmic lens industry, HOYA accelerated the partial transfer of its
production capacities from local markets to overseas, as a measure of cost
reduction and production efficiency improvement. Thailand and later Vietnam has
been recognized as one of the most attractive locations for establishing Global
manufacturing facilities due to high quality of human resources and benefits in
terms of supply chain management. In 1974, ahead of many other Japanese
companies, HOYA opened its first mass production plant of eyeglass lenses in
Thailand, followed in year 2000 by the first of the three global RX Super Lab
facilities. Since then, the Global Production center in Thailand has became one of
HOYA's strategic pillars for sustainable growth, proven in the last decade.
However, in October 2011, an unfortunate natural disaster hit Thailand taking lives
of hundreds of people and leaving millions without houses. This was Thailand's
worst flood event in the past 50 years. Along with the civilian households, many of
the Industrial Estate parks located north of Bangkok have been covered by the
flood waters, in spite of the preventive and emergency measures taken by
authorities. HOYA was one of the many Japanese companies affected by this
unprecedented event which constrained the Company to cease operations at all
of its three Global RX Super Labs and the mass production plant located in
A
yutthaya for about 6 months, being severely damaged by the floodwaters. At the
same time, the mass production operation at the facility located in Patumthani
has been voluntary suspended, for about one month, to ensure worker's safety
and equipment protection.