Hoya on a high

Hoya Corporation has announced soaring third-quarter and nine-month profit increases compared to the prior year periods affected by flooding in Thailand.

Third quarter profit before tax increased 164.3 per cent to ¥17,634m, while profit for the first nine months of the year rose 45.3 per cent.

Hoya reported 'tremendous expenses' in the same period last year following the Thai flooding (News 04.11.11) that affected its manufacturing facilities. Revenues from all operations during the third quarter increased 8.6 per cent to ¥90,682m, Hoya said, with the optical lens market improving.

'Eyeglass lens business is recovering, though the demand for optical lenses and HDD glass disks is still weak,' added Hoya chief executive officer Hiroshi Suzuki.