OUTLINE OF THE PROJECT:
The Group's principal activity is the manufacture of optical glasses and eyeglasses. The operations are carried out through the following divisions: Electro optics; Photonics; Vision care; Health care and Other. Electro optics includes photo masks for fabricating semiconductor devices, mask blanks and glass magnetic-memory disks. Photonics include Laser equipment. Vision care includes optical lenses, optical glasses and glasses for Electronics. Health care includes contact lenses and hearing aids.
In the Vision Care business, which produces eyeglass lenses, net sales totaled ¥126.3 billion (up 5.5% compared with the preceding fiscal year) and operating income reached ¥20.6 billion (down 2.4% compared with the preceding fiscal year). The fiscal year under review witnessed improved performance in the European market, owing to a successful expansion of sales channels as a result of management resources dedicated to the region, in addition to currency transaction gains from the rising euro. In the rapidly growing Asian markets as well, we achieved growth in the double digits and above. However, demand was sluggish in Japan and the United States, due to the impact of sagging consumption. Particularly in Japan, falling prices per unit product shrank the eyeglass market itself, which blunted the business’s overall growth rate. Concerning the Health Care business, net sales were ¥46.1 billion (up 13.0% compared with the preceding fiscal year) and operating income reached ¥10.1 billion (up 10.3% compared with the preceding fiscal year).
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