Japan's Hoya Corporation posted better-than-expected first half earnings on 1 October/02, buoyed by cost cuts and healthy demand for high-precision products. Consolidated net profit was JPY 14.8BN (EUR 118M) for the 6-months to 30 Sept, up 8.7% (2001) and a record for a first half figure, on revenues of JPYd 123BN (EUR 980M), up 3.9%. While Hoya gave no forecasts for the full year to March, saying it would release a projection with its third-quarter results in January, it noted worrying developments in the July-September quarter. Hoya is the world's top producer of mask blanks, a key component for steppers that etch circuitry onto microchips. It said demand for high-precision blanks for next-generation products boosted revenues despite a sluggish microchip market.
