(TOKYO: 7741) reported that sales for the Hoya Group during the fourth quarter ended March 31, 2018 rose 7.6 year on year, reaching 135,923 million yen, and 7 percent on a constant currency basis. Hoya said the increase was primarily due to growth in its Information Technology and Life Care segments. During the quarter, Hoya’s Life Care unit posted 91.9 million yen in sales, a 10 percent increase over year ago, and an 8 percent increase on a constant currency basis. Eyeglass lens sales rose 12 percent, or 2 percent like-for-like, compared with fourth quarter 2016. Contact lens sales rose 5 percent versus year ago; IOL sales rose 14 percent versus year ago.
Despite recording 5,615 million yen in impairment losses on fixed assets, profit growth stemming from higher revenues, productivity improvements, expense reductions and other measures, Hoya generated a quarterly profit before tax of 26,150 million yen and profit of 19,535 million yen, year-on-year increases of 7.1 percent and 2.0 percent, respectively.
For the fiscal year ended March 31, 2018, Hoya’s revenues totaled 535,612 million yen, up 11.8 percent year on year. Pre-tax profit was 124,248 million yen and profit for the term was 99,222 million yen, an increase of 12.1 percent and 14.2 percent respectively, year on year.
“I am encouraged with the growing demands in the Information Technology segment,” said Hiroshi Suzuki, chief executive officer of Hoya. "For 2018, we are also expecting to achieve 20 percent profit margin from ordinary operating activities in the Life Care segment.”