Lens sales up at Hoya Corp

Hoya Corporation reported a 15 per cent gain in its fourth-quarter profit after increasing overseas sales.

Net income rose to ¥19bn in the three months ended March 31. There was a rise in sales of added-value products in its overseas lens markets.

Hoya added that there was an overall increase in the sales volume despite tough competition due to a price offensive in low-end lenses. European market recovery was apparent, with sustained expansion realised.

According to Bloomberg, Pentax scrapped a merger plan with Hoya because it would have less representation on the new board, although Hoya has reiterated a plan to take over Pentax, dependent on the cooperation of its management.