Hoya - 4Q Operating Profit Up

Hoya Corp, said on 23 April 2007 that its 4Q 2006 operating profit rose 2.4%. Operating profit came to US$207M) in the 3m ended 31 March 2007, slightly higher than the same period a year earlier. (The Japanese high-tech glassmaker is involved in a possible takeover of Pentax Corp) Although its profit margin continues to exceed those of other Japanese precision-equipment makers such as Canon Inc. & Konica Minolta Holdings, Hoya's profitability has been hit by price pressure in photomasks used for liquid-crystal displays, where the firm has a more than 50% market share. Shares in Hoya, which is more than half-owned by foreigners, have fallen 11% in 2007, against a 1.3% gain on the Nikkei.