Hoya bounces back in Q4

Hoya Corporation has boosted profits for the final quarter of the year after putting troubles related to flooding in Thailand behind it.

The company reported a 9.8 per cent rise in revenue to ¥96,095m from all operations for the fourth quarter ending March 31 2013. Profit before tax for all operations was almost ¥30,000m and profit for the term was ¥23,239m, increases of 69.7 per cent and 102.5 per cent. The company noted that this was due to the 'recording of tremendous expenses in the same period last year suffered from the Thai flooding and the recording of insurance income this year on the contrary'.