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HOYA REPORT 2014
Financial Review
Scope of
Consolidation
As of March 31, 2014, the HOYA Group consisted of the HOYA CORPORATION, 121
consolidated subsidiaries (10 of which are domestic and 111 overseas) and 8 affiliates (4 of which
are domestic and the other 4 overseas).
The HOYA Group is operated and managed through global consolidated group management.
The independent management teams of business segments, including Information Technology,
and Life Care, are responsible for executing management strategies.
Regional headquarters in the Americas, Europe and Asia support business operations by
strengthening relationships with countries and areas in the respective regions, such as by
providing legal support and conducting internal audits. In particular, the HOYA Group has its
Financial Head Quarters (FHQ) in the Netherlands.
Adoption of the
International Financial
Reporting Standards
Beginning with the 73rd fiscal year, the HOYA Group has prepared its consolidated financial
statements and other documents in compliance with the International Financial Reporting
Standards (IFRS) pursuant to the first paragraph, Article 120 of the Ordinance on Accounting of
Companies. With respect to reportable segments presented in the overview of operation by
business category, the HOYA Group divides its business into three reportable segments, based
on IFRS. These segments are Information Technology, Life Care, and Other Businesses.
The Information Technology segment handles electronics related products used for the production
of semiconductors, liquid crystals and hard disk drives (HDDs), and imaging related products such
as digital camera lenses. The Life Care segment deals in health care related products such as
eyeglass lenses and contact lenses, as well as medical related products such as intraocular lenses
and endoscopes. The Other Businesses segment offers mainly information system services.
Sales During the consolidated fiscal year under review, the global economy remained caught in a state
of uncertainty. This was reflected in the fact that while the U.S. economy posted a gradual
recovery and Europe turned around to start to pick up, though moderately, there were fears of
economic slides arising from continued civil wars in the Middle East and a slowdown of growth in
China and other emerging countries. The Japanese economy shared a gradual recovery as
economic measures taken by the government and others led to corrections of the appreciation of
the yen and rising stock prices and hence a steady improvement in business confidence.
As for the HOYA Group, in the Information Technology segment, products related to smartphones
and tablet computers performed well. However, there was a conspicuous slowdown in products
related to laptop computers and digital cameras, which are undergoing a slump in demand. These
products had driven the performance of the HOYA Group and consequently sales of this segment
Copyright 2014 © HOYA CORPORATION