For the 2nd quarter ended Sept. 30, the Japanese group saw an 8.7 increase in net sales to 23,165 million yen (e198.8m-$176.4m) in its vision care operations, which include eyeglass lenses and frames. Aided by the weak yen, vision care revenues outside Japan increased by 18.6 percent to 12,395 million yen (e106.4m-$94.4m). For the whole eye care sector, which includes vision care and health care (contact lenses, intraocular lenses, hearing aids), Hoya reports a 9 percent sales increase to 28,803 million yen (e247.2m-$219.3m).
Hoya managed to raise the operating margin of its vision care operations in the quarter by more than a percentage point to 15.1 percent, as compared to 13.7 percent in the comparable period one year ago, in spite of price pressure in Japan, thanks to its growing emphasis on value-added products.
Overall, the group's operating income was down 6.3 percent to 11,234 million yen (e87.4m-$85.5m). Total sales were down slightly, partly because of a stagnant economy and the current problems of the information technology sector. They sank by 2.2 percent to 58,037 million yen (e498.2m-$441.9m), and net income slid by 17 percent to 6,192 million yen (e53.2m-$47.2m).