Hoya reports fall in orders

Hoya posted net income of ¥12.6bn (£92.7m) for the third quarter ended December 31 2008, a decrease of 44.2 per cent in comparison to the same period in 2007. The company's net sales fell 23.3 per cent to ¥112.7bn (£829.4m).

According to Hoya, the drop was mainly due to order decreases and a fall in product price resulting from the global economic downturn.

In its vision care unit, Hoya said that sales of ophthalmic lenses in its overseas markets suffered from both the economic downturn and intensified competition in the market. The company reported that the section's sales also decreased in comparison to the same period in the previous year and amounted to ¥24.821bn (£182.6m).