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Financial Review
Copyright 2013 © HOYA CORPORATION
3
Sales
During the consolidated fiscal year ended March 31, 2013, the global economy continued to slow, reflecting
the prolonged European financial problems, which had global repercussions, and sluggish economic growth
in China and other emerging economies. In Japan the economy continued to see reconstruction demand after
the Great East Japan Earthquake but the country's exports decreased due to the strong yen and the sluggish
overseas economy. However, since the change of government in December 2012, hopes for new economic
measures and easing monetary policy have contributed to the depreciation of the yen and an upturn in the
stock market.
In this environment, sales in HOYA's Information Technology segment decreased from the previous year. This
was attributable to a shift in demand from notebook PCs and compact digital cameras, final products that use
many of our main products, to smartphones, tablet PCs, and other products that do not use our products as
much. The Life Care segment posted an increase in sales from the previous year. Sales in the eyeglass lens
business recovered from the impact of the flooding in Thailand and were supported by higher sales at a newly
consolidated subsidiary, while sales of medical endoscopes and contact lens were steady.
As a result, HOYA's sales in all operations for the fiscal year under review amounted to ¥372,494 million, down
¥4,446 million (1.2%) year on year. Excluding sales contributed by the PENTAX Imaging Systems Business,
which was sold in October 2011, in the first half of the previous fiscal year, sales on a continuing basis
increased by 3.3% year on year on year in the fiscal year under review.
By business segment, sales in the Information Technology segment were down 11.5% on an overall business
basis but down 2.8% on a continuing business basis, which excludes sales in the PENTAX Imaging Systems
Business. The Life Care segment recorded an 8.3% increase in sales.
By customer region, net sales to customers in Japan decreased 5.6%, to ¥136,896 million, and net sales to
overseas customers increased 1.6%, to ¥235,597 million. As a result, domestic sales and overseas sales
accounted for 36.8% and 63.2% of total net sales, respectively. The overseas sales ratio was 1.7 percentage
points higher than in the previous year.
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 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 average exchange
rates for the yen were ¥83.32 against the U.S. dollar
(the yen weakened by 5.5% from the previous fiscal
year), ¥107.39 against the euro (the yen appreciated
by 2.0%), and ¥2.72 against the Thai baht (the yen
weakened by 5.4%). For the Group overall, the
effect of exchange rates increased net sales by
¥3,670 million and net profit by ¥2,086 million.