Hoya Corporation (Hoya), an ophthalmic devices company, has reported net sales of JPY454.1 billion for the full year of fiscal 2009, down 5.7 %, compared with net sales of JPY481.6 billion in the previous year-end. It has reported a net income of JPY25.1 billion for the full year of fiscal 2009, down 69.3%, compared with net income in the previous year-end. It has also reported JPY58.01 per share, for the full year of fiscal 2009, compared with the JPY189.01 per share, in the previous year-end.
HOYA also announced year-end dividends forecast of JPY35 per share of common stock. The annual dividend, including the interim dividends of JPY30 per share, will amount to JPY65 per share. It will be decided at the board of directors meeting in the end of May.
Net sales were JPY82.9 billion for the quarter, representing a decrease of 38.9% from JPY135.8 billion in the same period of 2008, mainly due to an appreciation of the Yen and sharp drop for the product price resulting from global economic downturn in the main business fields such as Electro-Optics.
Operating loss for the fourth quarter was JPY60 million compared to operating income of JPY18.0 billion for the same period of 2008. Net loss for the fourth quarter was JPY27.8 billion, or JPY64.30 per share compared to net income of JPY21.0 billion, or JPY48.53 per share of the fourth quarter of 2008, due to posting the loss on impairment of fixed assets.
There was a drastic inventory adjustment by High-tech manufacturers in the second half of FY2009, and in response to that, we are seeing a push back of customer demands in Electro-optics fields in the first quarter of FY2010,” said Hiroshi Suzuki, chief executive officer of HOYA. “Looking forward, we see opportunities to grow our business by generating stable profit from Electro-Optics business without great investment, and by investing to the medical business including eye care and endoscope to increase the market share. At the same time, we are seeking a new business opportunity to be added to our portfolio for future growth.”