Pentax 2012 Annual Report Download - page 69

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¥231,996 million. As a result, the composition of net sales was 38.5%
domestic and 61.5% overseas.
HOYA calculated the effect of exchange rates on operating results during the
fiscal year under review by comparing the foreign currency denominated
financial statements of its overseas subsidiaries when converted into yen at
the average exchange rates during the fiscal year under review, with the
same statements when converted into yen at the average exchange rates
prevailing during the previous fiscal year. In the foreign exchange market, the
yen appreciated 7.3% against the U.S. dollar to ¥78.98 on average during the
fiscal year under review, while it gained 2.7% against the euro to ¥109.55 and
5.8% against the Thai baht to ¥2.58 over the preceding fiscal year. For the
Group overall, the effect of exchange rates reduced net sales by ¥7,197
million and net profit by ¥1,297 million.
On July 1, 2011, an agreement was reached and concluded between HOYA
and Ricoh Co., Ltd. to transfer the PENTAX Imaging Systems Business to
Ricoh and the transfer was executed on October 1, 2011. As a result, the
Business is classified as a discontinued operation from the fiscal year under
review.
The massive flooding that occurred in Thailand in October 2011 inflicted
damage directly to two plants at HOYA LENS THAILAND LTD., which is
HOYA's flagship manufacturing site for eyeglass lenses.
Heavy damage was incurred particularly at Ayutthaya Plant, which deals in
custom-made products: its premises were flooded, so operations were
suspended on October 12. At the Plant, the ground floor was submerged
once but flood waters subsided towards the end of the year, so efforts were
made to restore its infrastructure and manufacturing facilities, which resulted
in the resumption of operations in the beginning of April 2012.
Sales
Transfer of the PENTAX Ima
g
in
g
S
y
stems Business
Flood Damage in Thailand
Fortunately, neither deaths nor injuries have been reported. We sincerely
apologize for having caused substantial inconvenience to many customers
during the suspension of operations.