BUSINESS: Financial Hoya Group Reports Significant Increases in Sales and Profits in First Quarter By Staff Friday, July 30, 2021 12:27 AM TOKYO—Boosted by strong sales in both North America and Europe, Hoya Group (7741:JP) on Thursday reported that sales for the first quarter (April 1 through June 30) of its current fiscal year totaled 158,000 million yen, an increase of 44.5 percent from the same period of the previous fiscal year. The quarterly profit before tax totaled 51,018 million yen, and quarterly profit amounted to 41,299 million yen, up 59.7 percent and 61.1 percent, respectively. The quarterly profit margin before tax was 32.3 percent, representing a year-on-year increase of 3.1 points.Disclosed figures and change ratios are for businesses with continuing operations, the announcement noted. There were no discontinued businesses in the first quarter or the same quarter of the previous year. In the Life Care segment—which includes health care-related products such as eyeglass lenses and contact lenses—sales increased significantly, and medical-related products such as medical endoscopes and intraocular lenses for cataracts also increased significantly, Hoya said in its announcement. As a result, sales in the Life Care segment totaled 96,849 million yen, an increase of 56.4 percent. This business segment’s profit increased by 111.7 percent to 21,843 million yen, Hoya reported. The company added, “Sales of eyeglass lenses and contact lenses increased significantly due to a recovery following the resumption of economic activities, compared to the same period of the previous fiscal year, when the impact of COVID-19 on business activities was largest. Sales of eyeglass lenses were particularly strong in Europe and North America, and higher sales of high-value-added products also contributed to higher sales.” Hoya also noted that contact lenses were affected by sales activities at Eyecity specialty retailers due to temporary closures at some stores and shortened sale hours in line with the declaration of an emergency situation in Japan. However, sales revenues were on a recovery trend, with home delivery services to Eyecity members trending steadily, the announcement noted. In addition, Hoya said its sales of medical endoscopes and intraocular lenses for cataracts increased significantly due to a recovery following the resumption of economic activities, compared to the same period of the previous fiscal year, when the impact of COVID-19 on business activities was largest. In intraocular lenses for cataracts, there was “a gradual recovery in the number of cataract operations, particularly overseas, and our sales were on a recovery trend,” Hoya said.