Hoya : Announces Third Quarter Financial Results

Hoya Announces Third Quarter Financial Results

Tokyo, Japan-January 31, 2017- Hoya Corporation (TOKYO: 7741) today announced financial results for the third quarter ended December 31, 2016.

During the quarter, revenues for the HOYA Group amounted to 122,594 million yen, decreasing 4.0% compared with the same period last year. Pre-tax profit amounted to 32,475 million yen, and profit for the quarter was 25,080 million yen, increasing 4.2% and 4.4%, respectively.

In the Information Technology segment, sales of the mask blanks for semiconductors expanded as demand for developing cutting-edge products increased. However, in the photomasks for semiconductors and LCD photomasks, sales decreased because of the decline in production capacity of the Kumamoto Plant following the Kumamoto earthquakes. Sales of glass substrates for hard disk drives were approximately the same year on year, because of the impact of the appreciation of the yen. Sales of the IT segment as a whole decreased year on year.

In the Life Care segment, sales of contact lenses and intraocular lenses were strong. In the eyeglass lenses business, sales expanded on a local currency basis, mainly in the Americas, Europe, and Asia, but because of the effect of foreign currency fluctuations, overall sales decreased. In the endoscopes business, sales in Europe on a local currency basis expanded but, as a result of the impact of foreign currency movements, sales in yen terms diminished. For the Life Care segment as a whole, sales decreased year on year.

For the nine months ended December 31, 2016, revenues decreased 8.2% to 352,623 million yen and pre-tax profit was down 10.0% to 86,386 million yen year on year. Profit for the term was down 9.3% to 67,877 million yen.

"During the quarter, eyeglass lens business grew overall due partly to stabilization of Asia operation," said Hiroshi Suzuki, chief executive officer of HOYA. "For endoscope business, we are expecting a good outcome in the coming year with new products releases."

Hoya also announced the projected results for the fiscal year ending March 31, 2017. Hoya forecasts revenues of 473 billion yen (down 6.5% compared to the previous year), pre-tax profit of 111 billion yen (down 6.8%) and profit for the term of 87 billion yen (down 6.8%).

Summary of Consolidated Financial Statement

(Millions of Yen: Rounded to the nearest million)

Three months ended		Variance (%)	Nine months ended		Variance (%)
Dec. 2015	Dec. 2016		Dec. 2015	Dec. 2016
Revenue	127,645	122,594	-4.0	384,048	352,623	-8.2
Profit before tax	31,179	32,475	4.2	95,938	86,386	-10.0
Profit for the term	24,034	25,080	4.4	74,824	67,877	-9.3
Basic earnings per share(yen)	58.14	64.59	178.56	173.11

*Results are preliminary and unaudited.

The full reports are available in the Investor Relations page at http://www.hoya.co.jp/english/investor/library.html

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