HOYA announced annual results on IFRS basis

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Nov 1, 2013 (4 years and 6 days ago)

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May 10, 2011
1. Annual Financial Highlights : p.1
2. Results of Operations : p.2
3. Consolidated Financial Statements
(1) Consolidated Statement of Financial Position : p.4
(2) Consolidated Statement of Comprehensive Income : p.6
(3) Consolidated Statement of Cash Flows
(including discontinued operations): p.8
(4) Segment Information : p.9
Reconciliation of the equity / profit for the yea
r
(1) Reconciliation of equity at March 31, 2011 : p.12
(2) Reconciliation of profit for the year ended March 31, 2011 : p.16
(3) Reconciliation of equity at March 31, 2010 : p.18
(4) Reconciliation of profit for the year ended March 31, 2010 : p.22
Quarterly Consolidated Financial Statements
(1) Quarterly Consolidated Statement of Income : p.24
(2) Quarterly Consolidated Statement of Cash Flows : p.25
(3) Segment Information : p.26
(4) Composition of Net Sales by Segment : p.27
Notes:
1.
HOYA's fiscal year (FY) : from April 1 to March 31 of the following year.
2.
These financial statements are excerpt translation of Japanese"
Kessan Tanshin
"and have been prepared for the
references only of foreign investors in accordance with accounting principles and practices generally accepted in
Japan.
3.HOYA CORPORATION decided to prepare and disclose its consolidated financial statements in accordance with
Designated International Financial Reporting Standards (IFRSs),instead of generally accepted accounting
principles in Japan (Japanese GAAP) from fiscal year ending March 31,2011.The figures regarding annual
results are prepared in IFRS and the rest of the figures regarding quarterly results are prepared in Japanese
GAAP because the Financial Statement of the last 4th quarter was not prepared in IFRS.
These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our
actual results, performance or achievements to differ materially from that anticipated in these statements. These factors
include changes in economic conditions, trends in our major markets, currency exchange rates, etc.
We accept no liability whatsoever for any direct or consequential loss arising from any use of this report.
Financial Report
Annual : Fiscal year ended March 31, 2011 (IFRS)
Consolidated (HOYA CORPORATION and Consolidated Subsidiaries)
This report is provided solely for the information of professional analysts who are expected to make their own evaluation
of the company. This report contains forward-looking statements that are based on management's assumptions and
beliefs in light of the information currently available to it and therefore you should not place undue reliance on them.
4th Quarter : 3 months ended March 31, 2011
(Japanese GAAP)
Part 1.
Annual : Fiscal year from April 1, 2010 to March 31, 2011<IFRS>
4th Quarter : from January 1 to March 31, 2011<Japanese GAAP>
Part 3.
Part 2.
Reconciliation <IFRS> - <Japanese GAAP>



1
May 10, 2011
Part 1.
Fiscal year from April 1, 2010 to March 31, 2011<IFRS>
1. Annual Financial Highlights
HOYA CORPORATION and Consolidated Subsidiaries
1.Performance for the year ended Mar. 31, 2010 and 2011
( The yen amounts shown therein are rounded down to the nearest million.)

Fiscal years ended
Variance
(1)Revenue and Profit before tax (all operations)
Mar.31,2010
Mar.31,2011
(%)
Revenue
413,726 423,063 2.3
Profit before tax
51,557 73,920 43.4
Ratio of profit before tax
12.5% 17.5%
Profit for the year
41,517 59,579 43.5
Ratio of profit for the year
10.0% 14.1%
Profit attributable to owners of the Company
41,214 59,744 45.0
Ratio of profit attributable to owners of the Company
10.0% 14.1%
Basic earnings per share (yen)
95.24 138.49
Diluted earnings per share (yen)
95.15 138.41

(2)Financial Position
Mar.31,2010
Mar.31,2011
Total assets
560,290 578,641
Total equity
358,749 377,541
Ratio of assets attributable to owners of the Company
63.8% 65.1%
Assets attributable to owners of the Company per share (yen)
828.82 873.49

(3) Conditions of Cash Flows
Mar.31,2010
Mar.31,2011
Net cash generated from operating activities 83,734 92,514
Net cash used in investing activities -40,723 -38,491
Net cash provided by (used in ) financing activities -84,730 -31,244
Cash and cash equivalents at end of period 167,938 185,252
2.Dividends per Share
Mar.31,2010
Mar.31,2011
Interim (Yen) 30.00 30.00
Year-end (Yen) 35.00 35.00
Annual (Yen) 65.00 65.00
Notes:
As of
To calculate expected net income per share, expected net income is devided by expected average number of
shares through the term.
These forward-looking statements involve known and unknown risks,uncertainties and other factors that may
cause our actual results,performance or achievements to differ materially from that anticipated in these
statements.These factors include changes in economic conditions,trends in our major markets,or currency
exchange rates.
Fiscal years ended
Fiscal years ending/ended







2
2. Results of Operations
1) General Overview
2
)
Se
g
ment Overview
Information Technology
<Electronics related products>
As a general recovery in the semiconductor market globally continued thanks to
strong demand from emerging countries,the Company has achieved on a certain
volume of production and shipments during the fiscal year under review.However,
sales remained almost unchanged,attributable to a continued decline in product
prices and rapid appreciation of the yen.
There was a serious production adjustment in a laptop computor market during the
fiscal year under review and the market related to the hard disk drives (HDDs) was
affected significantly.However,the volume of shipment from the Company jumped
year on year basis and sales rose in spite of lower product prices linked to the
stronger yen.
During this consolidated fiscal year (from April 1,2010 to March 31,2011;hereinafter the
“ fiscal year under review ” ),the global economy saw certain recoveries mainly in
emerging countries,while the economy in U.S.and Europe remained clouded.In Japan,
with the appreciation of the yen,the uncertainty of economy increased specially among
exporters.Furthermore,the East Japan earthquake disaster occurred on March 11,2011
made the conditions more serious.
Against this backcloth,given an increase in orders with the recovery in the market,the
HOYA group's production and shipments were higher compared with those for the same
quarter of the previous fiscal year,although sales were significantly affected by lower
product prices and the appreciation of the yen.Though the damage the Company directly
suffered from the disaster was not so heavy,there were some troubles from the impacts,
such as the temporaly stop at the production facilities due to the blackout,suffers at our
customers, and difficulties at sourcing of raw material or parts.
The HOYA group recorded revenue of 413,349 million yen on continuing operations for
the fiscal year under review,up 2.7% year-on-year.Profit before tax rose 26.2%,to
63,758 million yen and profit for the year on continuing operations amounted to 497,05
million yen, up 26.2% and 22.6% respectively year-on-year.
The Company decided to prepare and disclose its consolidated financial statements in
accordance with Designated International Financial Reporting Standards (IFRSs),
instead of generally accepted accounting principles in Japan (Japanese GAAP),from
fiscal year ending March 31, 2011.
The Company have sold its hard disk glass media manufacturing operations to the
Western Digital Corporation in USA in the first quarter this fiscal year.Therefore the
Company classified this operations as discontinued and posted 10,343 million yen of
gain on this business transfer on the other revenue of discontinued operations.
Following the revision of the Accounting Standard and the Guidance on Accounting
Standard for Disclosures about Segments of an Enterprise and Related Information,the
Company has determined reported segments based on the above accounting standard
from the 1st quarter period of this fiscal year.
The profit for the year of all operations of HOYA group amounted to 59,579 million yen,
up 43.5% year-on-year.


3

<Ima
g
in
g
related products>
Sales of optical lenses were up from the previous year reflecting robust sales of
digital cameras in the market,particularly in emerging countries,and strong orders
for high-precision lenses and for interchangeable lenses,resulting in higher
shipments of such products,while keeping factories at their full production
capacity.
In HOYA ’ s Pentax brand digital cameras,the number of single lens reflex
cameras sold rose from a year ago,reflecting continued robust demand for entry-
level cameras, which in turn resulted in higher sales of interchangeable lenses.
Life Care
<Healthcare related products>
Shipments of eyeglass lenses increased worldwide.However,in Japan,sales
were affected by lower unit sales prices.In the overseas market,volume of
shipments rose year on year,and sales also climbed on a local currency basis.
However,with the significant impact of the appreciation of the yen,sales in terms
of the yen recorded slight decrease compared to the last year.
Sales of contact lenses rose year on year with an increase in the number of
customers visiting stores,reflecting active consulting sales through directly-owned
stores,higher sales of high value-added products,and an increase in the number
of stores following aggressive expansion initiatives.
<Medical related products>
Shipments of medical endoscope products,in which overseas sales account for a
majority of overall sales,increased in comparison to the year-ago,as restriction of
purchase for medical equipment has been getting relieved at medical institutions
in Europe and the U.S.The sales decreased year on year due to significant
impact from the appreciation of the yen though the sales slightly increased on a
local currency basis.
Sales of intraocular lenses (IOL) increased from the previous year,thanks to the
strong sales of soft lenses,which overcome the impact of the appreciation of the
yen.
Others
As a result,sales of the Information Technology segment stood at 208,735 million
yen,up 3.9% year-on-year,and segment income (profit for the year before tax)
amounted to 36,506 million yen, up 12.3% year-on-year.
As a result,sales of the Life Care segment stood at 203,006 million yen,up 1.9%
year-on-year,and segment income (profit for the year before tax) amounted to
36,743 million yen, up 12.4% year-on-year.
The Others segment mainly includes the business that provides information system
services and new businesses.
As a result,sales of the Others segment stood at 1,585 million yen,and segment
income (profit for the year before tax) amounted to 946 million yen.





4
3.Consolidated Finanncial Statements (Annual)
(1) Consolidated Statement of Financial Position
(HOYA Corporation and its subsidiaries) (Millions of Yen)
Amount
(%)
Amount
(%)
Amount
(%)
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment-net 122,203 118,574 -3,628
Goodwill 5,484 2,629 -2,855
Other tangible assets 17,782 15,157 -2,625
Investments in associates 9,214 11,247 2,033
Long-term financial assets 18,809 19,043 234
Other non-current assets 2,963 1,634 -1,329
Deferred tax assets 44,684 35,901 -8,782
Total non-current assets 221,138 39.5 204,185 35.3 -16,953 -7.7
CURRENT ASSETS
Inventories 61,214 63,665 2,452
Trade and other receivables 94,298 86,454 -7,844
Other short-term financial assets 5,586 26,964 21,379
Income tax receivables 2,326 2,273 -53
Other current assets 7,466 9,848 2,382
Cash and cash equivalents 167,938 185,252 17,313
Sub total 338,827 374,456 35,629
Assets held for sale 325 - -325
Total current assets 339,152 60.5 374,456 64.7 35,304 10.4
Total assets 560,290 100.0 578,641 100.0 18,351 3.3
Variance
As of March 31, 2010 As of March 31, 2011





















5
(HOYA Corporation and its subsidiaries) (Millions of Yen)
Amount
(%)
Amount
(%)
Amount
(%)
6,264 6,264

15,899 15,899

-11,010 -10,964 47
Other capital reserves -3,014 -2,496 518
396,019 427,722 31,703
-46,603 -59,590 -12,987
Equity attributable to owners of the
Company
357,555 376,836 19,281
1,194 705 -489
Total equity 358,749 64.0 377,541 65.2 18,792 5.2
LIABILITIES
NON-CURRENT LIABILITIES
102,995 100,769 -2,226
7 197 191
8,186 8,121 -65
1,718 1,461 -257
1,704 1,198 -505
Deferred tax liabilities 10 214 204
Total non-current liabilities 114,619 20.5 111,961 19.3 -2,658 -2.3
CURRENT LIABILITIES
4,290 2,415 -1,875
47,279 51,433 4,154
385 823 438
4,469 3,110 -1,360
903 803 -100
29,595 30,556 961
Total current liabilities 86,922 15.5 89,140 15.4 2,218 2.6
Total liabilities 201,541 36.0 201,100 34.8 -440 -0.2
560,290 100.0 578,641 100.0 18,351 3.3
Variance
EQUITY AND LIABILITIES
EQUITY
Accumulated other comprehensive
income/(loss)
Capital reserves
Retained earnings
Share capital
As of March 31, 2010 As of March 31, 2011
Total equity and liabilities
Other provisions
Other current liabilities
Trade and other payables
Other short-term financial liabilities
Income tax payables
Retirement benefits obligation
Interest-bearing short-term debt
Other long-term financial liabilites
Treasury shares
Minority interests
Other provisions
Other non-current liabilities
Interest-bearing long-term debt


















6
(2) Consolidated Statement of Comprehensive Income
 (
All operations)
(HOYA Corporation and its subsidiaries) (Millions of Yen)
Amount (%) Amount (%) Amount (%)
All operations
Revenue:
Sales
413,726 100.0 423,063 100.0 9,337 2.3
Finance income
920 0.2 923 0.2 3 0.3
Share of profit of associates
466 0.1 1,605 0.4 1,139 244.3
Other income 5,719 1.4 14,327 3.4 8,607 150.5
Total Revenue
420,832 101.7 439,917 104.0 19,086 4.5
Expenses:
Changes in inventories of goods, products and work in progress 11,191 2.7 -5,048 -1.2 -16,239 -145.1
Raw materials and consumables used 93,801 22.7 100,357 23.7 6,556 7.0
Employee benefits expense 92,922 22.5 94,726 22.4 1,804 1.9
Depreciation and amortization 33,954 8.2 31,294 7.4 -2,660 -7.8
Subcontracting cost 7,046 1.7 7,395 1.7 348 4.9
Advertising and promotion expense 10,648 2.6 12,088 2.9 1,439 13.5
Commission expense 21,991 5.3 22,437 5.3 446 2.0
Impairment losses 834 0.2 1,944 0.5 1,110 133.1
Finance costs 2,896 0.7 2,585 0.6 -311 -10.8
Other expenses 93,991 22.7 98,220 23.2 4,229 4.5
Total expense
369,275 89.3 365,998 86.5 -3,277 -0.9
Profit before tax 51,557 12.5 73,920 17.5 22,363 43.4
Income tax expense 10,039 2.4 14,341 3.4 4,302 42.9
Profit for the year from all operations
41,517 10.0 59,579 14.1 18,061 43.5
Other comprehensive income:
Exchange differences on translating foreign operations 5,867 -14,188 -20,055 -341.8
Net gain on revaluation of available-for-sale financial assets 494 406 -89 -17.9
Share of other comprehensive income of associates -281 241 522 -185.6
Income tax relating to components of other comprehensive incom
e
-64 512 576 -896.1
Total other comprehensive income/(loss)
6,015 -13,030 -19,045 -316.6
Total comprehensive income/(loss) for the year
47,533 46,549 -984 -2.1
Profit attributable to :
Owners of the Company 41,214 10.0 59,744 14.1 18,530 45.0
Minority interests 304 0.1 -166 0.0 -469 -154.6
Total 41,517 10.0 59,579 14.1 18,061 43.5
Total comprehensive income/(loss) attributable to :
Owners of the Company 47,216 46,757 -459 -1.0
Minority interests 316 -208 -525 -165.9
Total 47,533 46,549 -984 -2.1
Basic earnings/(loss) per share (yen)
Continuing operations 93.02 115.60 22.58
Discontinued operations 2.22 22.89 20.67
Basic earnings per share (yen)
95.24 138.49 43.25
Diluted earnings/(loss) per share (yen)
Continuing operations 92.93 115.54 22.61
Discontinued operations 2.22 22.87 20.65
Diluted earnings per share (yen)
95.15 138.41 43.26
Notes:
1.
2011 B 2011 A influences
Sales 440,386 423,063 -17,324
Profit before tax 76,624 73,920 -2,704
Profit for the year 62,099 59,579 -2,520
2.Average rates of major foreign currencies
US$ Yen 92.61 85.22 8.0%
Euro Yen 130.68 112.61 13.8%
Thai Baht Yen 2.75 2.74 0.4%
Variance(%)
Effect of Exchange Rate Change on Net Sales and Incomes ("2011 A"is the actual value of this period."2011 B"is the nominal value of
this period which temporarily exchanged by the currency rate of the same period last year. unit : millions of Yen)
For the year ended
March 31,2011
Variance
For the year ended
March 31,2010
For the year ended
March 31,2010
For the year ended
March 31,2011


7
Consolidated Statement of Comprehensive Income
(continuing / discontinued)
(HOYA Corporation and its subsidiaries) (Millions of Yen)
Amount (%) Amount (%) Amount (%)
Continuing operations
Revenue:
Sales
402,430 100.0 413,349 100.0 10,920 2.7
Finance income
912 0.2 918 0.2 6 0.6
Share of profit of associates
466 0.1 1,605 0.4 1,139 244.3
Other income 5,341 1.3 3,741 0.9 -1,601 -30.0
Total Revenue
409,149 101.7 419,613 101.5 10,464 2.6
Expenses:
Changes in inventories of goods, products and work in progress 10,930 2.7 -4,834 -1.2 -15,763 -144.2
Raw materials and consumables used 90,069 22.4 98,975 23.9 8,906 9.9
Employee benefits expense 91,275 22.7 93,997 22.7 2,722 3.0
Depreciation and amortization 31,172 7.7 30,369 7.3 -803 -2.6
Subcontracting cost 7,046 1.8 7,395 1.8 348 4.9
Advertising and promotion expense 10,648 2.6 12,088 2.9 1,439 13.5
Commission expense 21,764 5.4 21,510 5.2 -254 -1.2
Impairment losses 834 0.2 1,944 0.5 1,110 133.1
Finance costs 2,896 0.7 2,585 0.6 -311 -10.8
Other expenses 92,001 22.9 91,827 22.2 -174 -0.2
Total expense
358,635 89.1 355,855 86.1 -2,780 -0.8
Profit before tax 50,514 12.6 63,758 15.4 13,244 26.2
Income tax expense 9,957 2.5 14,053 3.4 4,095 41.1
Profit for the year from continuing operations
40,557 10.1 49,705 12.0 9,148 22.6
Profit attributable to :
Owners of the Company 40,253 10.0 49,871 12.1 9,618 23.9
Minority interests 304 0.1 -166 -0.0 -469 -154.6
Total 40,557 10.1 49,705 12.0 9,148 22.6
Notes:
1.
2011 B 2011 A influences
Sales 430,673 413,349 -17,324
Profit before tax 65,929 63,758 -2,171
Profit for the year 52,290 49,705 -2,585
2.
(Millions of Yen)
Amount (%) Amount (%) Amount (%)
Discontinued operations
Revenue:
Sales
16,478 100.0 11,214 100.0 -5,264 -31.9
Finance income
8 0.0 5 0.0 -3 -35.1
Other income 378 2.3 10,586 94.4 10,208 2698.8
Total Revenue
16,864 102.3 21,805 194.4 4,941 29.3
Expenses:
Changes in inventories of goods, products and work in progress 262 1.6 -214 -1.9 -476 -181.8
Raw materials and consumables used 8,914 54.1 2,882 25.7 -6,031 -67.7
Employee benefits expense 1,647 10.0 729 6.5 -918 -55.7
Depreciation and amortization 2,782 16.9 925 8.3 -1,857 -66.7
Commission expense 227 1.4 928 8.3 700 308.4
Other expenses 1,990 12.1 6,393 57.0 4,403 221.3
Total expense 15,821 96.0 11,643 103.8 -4,178 -26.4
Profit before tax 1,043 6.3 10,162 90.6 9,119 874.5
Income tax expense 82 0.5 288 2.6 206 251.6
Profit for the year from discontinued operations
961 5.8 9,873 88.0 8,913 927.6
Profit attributable to :
Owners of the Company 961 5.8 9,873 88.0 8,913 927.6
Minority interests - -
Total 961 5.8 9,873 88.0 8,913 927.6
Internal trade between continuing operations and discontinued operations
Sales
-5,182 -1,500 3,681
Raw materials and consumables used 5,182 1,500 -3,681
Effect of Exchange Rate Change on Net Sales and Incomes ("2011 A"is the actual value of this period."2011 B"is the nominal value of
this period which temporarily exchanged by the currency rate of the same period last year. unit : millions of Yen)
For the year ended
March 31,2011
Variance
For the year ended
March 31,2010
As the Company reclassified the HDD glass media business as discontinued operations in the fiscal year ended March 31,2011,the
consolidated statement of comprehensive income for the previous fiscal year (12 months ended March 31, 2010) was revised accordingly.
Variance
For the year ended
March 31,2010
For the year ended
March 31,2011


8
(3)Consolidated Statement of Cash Flows (all operations)
(HOYA Corporation and its subsidiaries) (Millions of Yen)
For the year
ended March
31,2010
For the year
ended March
31,2011
Variance
Cash flows from operating activities
Profit before tax from continuing operations
50,514 63,758 13,244
Profit before tax from discontinued operations
1,043 10,162 9,119
Depreciation and amortization
33,954 31,294 -2,660
Impaiment losses
834 1,944 1,110
Finance income
-920 -923 -3
Finance costs
2,896 2,585 -311
Share of profits of associates
-466 -1,605 -1,139
(Gain)/loss on sales of property, plant and equipment
307 -177 -484
Loss on disposal of property, plant and equipment
1,057 539 -518
Gain on business transfer
- -10,343 -10,343
Others
6,703 4,083 -2,620
Cash generated from operations (before movements in
working capital)
95,922 101,317 5,395
Movements in working capital
Decrease/(increase) in inventories
10,093 -10,126 -20,219
Decrease/(increase) in trade and other receivables
-12,737 2,671 15,408
Increase/(decrease) in trade and other payables
1,126 7,007 5,881
Increase/(decrease) in retirement benefits obligation and
other provisions
-455 -306 149
Sub total
93,949 100,563 6,614
Interest received
846 791 -55
Dividends received
55 56 1
Interests paid
-2,037 -1,894 143
Income taxes paid
-10,727 -8,370 2,357
Income taxes refunded
1,648 1,368 -280
Net cash generated from operating activities
83,734 92,514 8,780
Cash flows from investing activities
Withdrawals of time deposit
4,652 1,548 -3,104
Deposits for time deposit
-3,157 -2,959 198
Deposits for transferable deposit
- -20,000 -20,000
Proceeds from sales of property, plant and equipment
2,050 1,140 -910
Payments for acquisition of property, plant and equipment
-26,651 -36,041 -9,390
Proceeds from disposal of investment securities
43 - -43
Payments for purchase of investment securities
- -569 -569
Net cash outflow on acquisition of subsidiary
-3,423 - 3,423
Payments to minority shareholders on merger
-85 -21 64
Proceeds from business transfer
- 20,654 20,654
Other proceeds
739 596 -143
Other payments
-14,891 -2,839 12,052
Net cash used in investing activities
-40,723 -38,491 2,232
Cash flows from financing activities
Dividends paid to owners of the Company
-28,236 -27,971 265
Dividends paid to minority interests
-159 -69 90
Increase (decrease) in short-term debt
-1,563 112 1,675
Increase (decrease) in commercial paper
-41,978 - 41,978
Proceeds from long-term borrowings
225 - -225
Repayments of long-term borrowings
-9,145 -3,337 5,808
Proceeds from disposal of treasury shares
0 0 0
Payments for purchase of treasury shares -3,275 -6 3,269
Payments for purchase of treasury shares by subsidiaries
-709 - 709
Proceeds from exercise of stock options
110 27 -83
Net cash used in financing activities
-84,730 -31,244 53,486
Net increase/(decrease) in cash and cash equivalents
-41,719 22,778 64,497
Cash and cash equivalents at the beginning of the year
207,928 167,938 -39,990
1,729 -5,465 -7,194
Cash and cash equivalents at the end of the year
167,938 185,252 17,313
Effects of exchange rate changes on the balance of cash
and cash e
q
uivalents in forei
g
n currencies


9
(4) Segment Information
1. Segment revenues and results
(Millions of Yen)
For the year ended March 31, 2010
Information
Technology
Life Care Other Total Adjustments
Continuing
operations
Discontinued
operations
Elimi-
nations(*)
All
operations
Revenue from external customers
200,963 199,175 2,290 402,427 2 402,430 16,478 -5,182 413,726
Inter-segment
122 23 3,879 4,024 -4,024 - - - -
Total
201,085 199,197 6,170 406,451 -4,022 402,430 16,478 -5,182 413,726
Interest income
336 223 9 567 256 824 8 - 832
Interest expense
-524 -448 -48 -1,020 -1,312 -2,332 - - -2,332
Depreciation and amortization
-19,409 -10,765 -101 -30,275 -897 -31,172 -2,782 - -33,954
Share of profit(loss) of associates
0 98 -7 90 376 466 - - 466
Impairment losses
-133 -127 - -260 -574 -834 - - -834
Others
-148,846 -155,481 -5,985 -310,312 -8,555 -318,867 -12,661 5,182 -326,346
Segment profit before tax
32,507 32,698 36 65,242 -14,728 50,514 1,043 - 51,557
Segment profit before tax ratio
16.2% 16.4% 0.6% 16.1% - 12.6% 6.3% - 12.5%
Other disclosure

Capital expenditure
15,908 9,367 110 25,385 1,728 27,113 1,907 - 29,020
For the year ended March 31, 2011
Information
Technology
Life Care Other Total Adjustments
Continuing
operations
Discontinued
operations
Elimi-
nations(*)
All
operations
Revenue from external customers
208,735 203,006 1,585 413,325 24 413,349 11,214 -1,500 423,063
Inter-segment
455 12 3,568 4,035 -4,035 - - - -
Total
209,190 203,018 5,153 417,360 -4,011 413,349 11,214 -1,500 423,063
Interest income
338 175 9 522 340 861 5 - 867
Interest expense
-241 -311 0 -552 -1,424 -1,976 - - -1,976
Depreciation and amortization
-19,111 -10,661 -110 -29,882 -487 -30,369 -925 - -31,294
Share of profit(loss) of associates
-8 185 - 177 1,428 1,605 - - 1,605
Impairment losses
- -1,944 - -1,944 - -1,944 - - -1,944
Others
-153,662 -153,718 -4,105 -311,485 -6,284 -317,769 -132 1,500 -316,401
Segment profit before tax
36,506 36,743 946 74,195 -10,438 63,758 10,162 - 73,920
Segment profit before tax ratio
17.5% 18.1% 18.4% 17.8% - 15.4% 90.6% - 17.5%
Other disclosure
Capital expenditure
27,923 9,371 85 37,379 917 38,296 191 - 38,488
Ref : Difference between the results of the year under review and the last year is as follows:
Information
Technology
Life Care Other Total Adjustments
Continuing
operations
Discontinued
operations
Elimi-
nations(*)
All
operations
Variance
Revenue from external customers
7,772 3,831 -705 10,898 22 10,919 -5,264 3,681 9,337
Variance
3.9% 1.9% -30.8% 2.7% - 2.7% -31.9% -71.0% 2.3%
Inter-segment
333 -11 -311 11 -11 - - - -
Total
8,105 3,821 -1,017 10,909 11 10,919 -5,264 3,681 9,337
Interest income
2 -48 0 -45 84 37 -3 - 35
Interest expense
283 137 48 468 -112 356 - - 356
Depreciation and amortization
298 104 -9 393 410 803 1,857 - 2,660
Share of profit(loss) of associates
-8 87 7 87 1,052 1,139 - - 1,139
Impairment losses
133 -1,817 - -1,684 574 -1,110 - - -1,110
Others
-4,816 1,763 1,880 -1,173 2,271 1,098 12,529 -3,681 9,946
Segment profit before tax
3,999 4,045 910 8,953 4,290 13,244 9,119 - 22,363
Variance
12.3% 12.4% - 13.7% - 26.2% - - -
Other disclosure
Capital expenditure
12,015 4 -25 11,994 -811 11,184 -1,716 - 9,468
(*)Eliminations : Internal trade between continuing operations and discontinued operations














10

Notes:
Major Products and Services
Photomasks and Maskblanks for semiconductors,
Masks and Devices for liquid-crystal displays (LCDs)
Glass disks for hard disk drives (HDDs), etc.
Optical lenses, optical glasses,
Degital cameras, Interchangeable lenses,
Digital camera modules, Optical Devices, Lazer equipments, etc.
Eyeglass lenses, Contact lenses, etc.
Endoscopes, Intraocular lenses, Artificial bone, etc.
Design of information systems, etc.
Life Care
The main products and services for each "reportable segment" described above are as follows:
The reportable segments are constituent units of the Group for which separate financial information is
obtained and examined on a regular basis by the Board of Directors,the chief operation decision maker,
to determine the allocation of management resources and evaluate the business performance.
In accordance with its management philosophy,the Group has categorized"information technology"and
"life and culture"as its business domains.To achieve sustainable growth in corporate value in these
business domains,the Group has been making decisions on the allocation of management resources
and monitoring the operating results.
As a result,the Group consists of three reportable business segments:the Information Technology
business,the Life Care business and the Others business,which are consistent with the above business
domains.
In the Information Technology business,the Group has developed an extensive range of products
following the digitalization of information and the emergence of the internet.The Group produces and
sells a broad array of I/O (Input/Outpur Device) related products in the information and communication
sector,including electronics related products that are essential for the modern digital information and
communication technologies,and imaging related products that are necessary to import pictures and
video images as digital information based on optical technologies.
Health Care related products
Medical related products
Others
<Overview of major products and services of reportable segments>
Reportable Segment
Information
Technology
Electronics related products
Imaging related products
In the Life Care business,the Group produces and sells health care related products that are used in the
healthcare and medical sectors and medical related products,including medical equipment and medical
materials that are used in medical treatments.In operating this business,it is typically required to obtain
approvals and permissions in accordance with the Pharmaceutical Affairs Act in Japan and other
regulations,and sophisticated technologies and highly reliable quality control systems represent the
critical elements for operating this business.
The Others business mainly includes the business that provides information system services and new
businesses.













11
(4) Segment Information (continued)
2. Revenue from major products and services
(Millions of Yen)
Amount (%) Amount (%) Amount (%)
Information Technology
Electronics related products 99,110 24.0 110,737 26.2 11,627 11.7
Imaging related products 101,852 24.6 97,998 23.2 -3,854 -3.8
Information Technology Total 200,963 48.6 208,735 49.3 7,772 3.9
Life Care
Health Care related products 147,580 35.7 152,254 36.0 4,674 3.2
Medical related products 51,594 12.5 50,752 12.0 -842 -1.6
Life Care Total 199,175 48.1 203,006 48.0 3,831 1.9
Other 2,290 0.6 1,585 0.4 -705 -30.8
Corporate (incluging R&D) 2 0.0 24 0.0 22 1,100.0
Revenue from continuing operations 402,430 97.3 413,349 97.7 10,919 2.7
Revenue from discontinued operations 11,296 2.7 9,713 2.3 -1,583 -14.0
Total revenue from external customers 413,726 100.0 423,063 100.0 9,337 2.3
3. Information about geographical areas
Revenue from external customers
(Millions of Yen)
Amount (%) Amount (%) Amount (%)
Revenue from external customers
Japan 152,366 36.8 160,210 37.9 7,844 5.1
USA 43,927 10.6 44,910 10.6 983 2.2
China 37,149 9.0 48,537 11.5 11,388 30.7
Others 168,988 40.8 159,691 37.7 -9,297 -5.5
Revenue from continuing operations 402,430 97.3 413,349 97.7 10,919 2.7
Revenue from discontinued operations 11,296 2.8 9,713 2.3 -1,583 -14.0
Total revenue from external customers 413,726 100.0 423,063 100.0 9,337 2.3
Note: Geographical areas are based on the location of customers.
Non-current assets
(Millions of Yen)
Amount (%) Amount (%) Amount (%)
Non-current assets
Japan 65,070 44.2 58,603 43.0 -6,467 -9.9
Thailand 19,684 13.4 19,691 14.4 7 0.0
Philippines 5,972 4.1 17,209 12.6 11,237 188.2
Others 56,455 38.3 40,906 30.0 -15,549 -27.5
Total non-current assets 147,181 100.0 136,409 100.0 -10,772 -7.3
Notes:
1. Geographical areas are based on the physical location where non-current assets are located.
2. Financial instruments, deferred tax assets, and pension plan assets are not included.
4. Information about major customers
For the year ended
March 31, 2010
For the year ended
March 31, 2011
Variance
For the year ended
March 31, 2010
For the year ended
March 31, 2011
Variance
The Group has no revenue from transactions with a single external customer that amounts to 10 percent or more of revenue
of the Group.
As of March 31, 2010
As of March 31, 2011
Variance





12
Part 2.Reconciliation
Reconciliation of the equity / profit for the year
(1) Reconciliation of equity at March 31, 2011
As of March 31, 2011 (Millions of Yen)
Japanese
GAAP
Reclassi-
fications
Notes
Adjust-
ments
Notes
IFRS
ASSETS ASSETS
NON-CURRENT ASSETS NON-CURRENT ASSETS
Property, plant and equipment - net
115,199 3,376 J 118,574
Property, plant and equipment-net
1,607 A 1,022 K 2,629
Goodwill
Intangible assets
16,195 -1,656 A,B 618 L 15,157
Other intangible assets
Investment securities
23,127 -23,127 C,D
9,535 C 1,712 M 11,247
Investments in associates
19,043 D,E 19,043
Long-term financial assets
Other non-current assets
7,530 -5,896 B,E 1,634
Other non-current assets
Allowance for doubtful accounts
-493 493 E
Deferred tax assets
23,532 9,405 F 2,965 N 35,901
Deferred tax assets
Total non-current assets
185,089 9,405 9,692 204,185
CURRENT ASSETS CURRENT ASSETS
inventories
63,432 234 O 63,665
Inventories
Trade and notes receivables
87,525 -996 G -75 P 86,454
Trade and other receivables
Deferred tax assets
9,405 -9,405 F
26,964 H 26,964
Other short-term financial assets
Securities
10,000 -10,000 H
2,273 I 2,273
Income tax receivables
Other current assets
13,803 -3,958 G,H,I 2 9,848
Other current assets
Allowance for doubtful accounts
-1,995 1,995 G
Cash and deposits
201,530 -16,278 H 185,252
Cash and cash equivalents
Total current assets
383,700 -9,405 160 374,456
Total current assets
TOTAL ASSETS
568,789

9,852 578,641
TOTAL ASSETS
Japanese GAAP IFRS
Total non-current assets


























13
(1) Reconciliation of equity at March 31, 2011
As of March 31, 2011 (Millions of Yen)
The details about the main differences in reclassification are as follows. The amount stated is the absolute value.
Items Amount
Goodwill Intangible assets Separate disclosure 1,607
Leasehold rights Intangible assets Other non-current assets 49
Equity-method investments Investment securities Separate disclosure 9,535
Investment securities Investment securities Long-term financial assets 13,591
5,945
493
Short-term deferred tax liabilities Current assets Non-current assets 9,405
Other receivables Other current assets Trade and other receivables 999
Allowance for doubtful accounts Separate disclosure Trade and other receivables 1,995
Securities Separate disclosure Other short-term financial assets 10,000
Time deposit over 3 months Cash and deposits Other short-term financial assets 16,278
Short-term loans receivable Other current assets Other short-term financial assets 686
Income tax receivables Other current assets Separate disclosure 2,273
The details about the main differences in adjustments are as follows.
Items Amount
Processing as expenses Stating in assets
134
Real estate acquisition tax Processing as expenses Stating in assets
244
2,992
Goodwill amortization Amortization Reversal of amortization
1,360
-338
Goodwill
618
Amortization
1,712
1,067
Recoverability of deferred tax assets, etc.
1,898
372
Depreciation and amortization, etc.
-138
Mainly recognized upon shipment
-703
Derecognition of notes receivable transferred Derecognized upon transfer
628
Japanese GAAP
IFRS
A
Derecognized when recourse
obligation is discharged
B
C
D
E
Long-term deposits, lease deposits, non-
current other receivables, etc
Other non-current assets Long-term financial assets
Allowance for doubtful accounts Allowance for doubtful accounts
(
Non-current assets
)
Long-term financial assets
F
G
I
Depreciation and amortization (including
component accounting)
Adjustments of depreciation and amortization as a result of the review of
depreciation method and estimated useful lives
K
Japanese GAAP
IFRS
J
Finance lease contracts that started before
March 2008
Translation of goodwill denominated in a
foreign currency
Translated goodwill occurred after the
period under review based on the
foreign exchange rate on the reporting
date
Translated based on the foreign
exchange rate on the reporting date
O
L
Recognizable assets Other intangible assets
The outstanding balance of inventories is adjusted, due to the difference in
depreciation methods and other factors.
M
Goodwill amortization of the invested entity
accounted under the equity method
N
Adjustments of deferred taxes as a result of
the elimination of unrealized profit on
inventories
P
Changes in trade and other receivables as a
result of revenue recognition
Recognized when risks and rewards
of ownership are transferred
H
Reversal of amortization (Negative
goodwill is included in income.)
Recognized when risks and rewards
of ownership are transferred
Mainly recognized upon shipmentChanges in inventories as a result of
revenue recognition
Difference between the amount calculated based on the tax rates that are
used under Japanese GAAP and that calculated based on the tax rates that
are used under the IFRS
Reexamination of the recoverability of all deferred tax assets

















14
(1) Reconciliation of equity at March 31, 2011
As of March 31, 2011 (Millions of Yen)
Japanese
GAAP
Reclassi-
fications
Notes
Adjust-
ments
Notes
IFRS
EQUITY EQUITY
Share capital
6,264 6,264
Share capital
Capital reserves
15,899 15,899
Capital reserves
Treasury shares
-10,964 -10,964
Treasury shares
Stock subscription rights
1,731 -1,731 A
-3,154 A,B 658 I -2,496
Other capital reserves
Retained earnings
407,131 4,885 B 15,706 P 427,722
Retained earnings
Accumulated other
comprehensive income/(loss)
-51,714 -7,876 J -59,590
376,836
Minority interests
706 -0 705
Minority interests
Total equity
369,053 8,488 377,541
Total equity
LIABILITIES LIABILITIES
NON-CURRENT LIABILITIES NON-CURRENT LIABILITIES
Bonds
99,985 891 C -107 100,769
Interest-bearing long-term debt
Long-term bank loans
456 -456 C
197 197
Other long-term financial liabilities
Retirement benefits obligation
8,173 -52 8,121
Retirement benefits obligation
2,422 D -962 K 1,461
Other provisions
Reserve for periodic repairs
962 -962
Other non-current liabilities
3,358 -2,237 C,D 78 1,198
Other non-current liabilities
230 -16 214
Deferred tax liabilities
Total non-current liabilities
112,933 86 -1,058 111,961
Total non-current liabilities
CURRENT LIABILITIES CURRENT LIABILITIES
Short-term bank loans
245 1,438 E 732 L 2,415
Interest-bearing short-term debt
Current portion of long-term
bank loans
1,202 -1,202 E
Trade and notes payables
36,720 14,960 F -247 M 51,433
Trade and other payables
823 G 823
Other short-term financial liabilities
Income tax payables
3,110 3,110
Income tax payables
Accrued bonus, Allowance for
product's warrant
y
6,294 -5,491 H 803
Other provisions
Accrued expenses
16,362 -16,362 H
Other current liabilities
22,869 5,748 F,G,H 1,938 M,N 30,556
Other current liabilities
Total current liabilities
86,803 -86 2,423 89,140
Total current liabilities
Total liabilities
199,736 - 1,365 201,100
Total liabilities
568,789 - 9,852 578,641
Japanese GAAP IFRS
Total equity and liabilities
Equity attributable to owners of the Company
Total equity and liabilities
Accumulated other comprehensive
income/(loss)



















15
(1) Reconciliation of equity at March 31, 2011
As of March 31, 2011 (Millions of Yen)
The details about the main differences in the items stated are as follows. The amount stated is the absolute value.
Items Amount
Stock subscription rights Separate disclosure Other capital reserves 1,731
Loss on disposal of treasury shares Retained earnings Other capital reserves 4,885
Long-term bank loans Separate disclosure Interest-bearing long-term debt 456
Long-term finance lease obligations Other non-current liabilities Interest-bearing long-term debt 435
Other non-current liabilities Other provisions (non-current liabilities)
1,461
Reserve for periodic repairs Separate disclosure
Other
p
rovisions
(
non-current liabilities
)
962
Current portion of long-term bank loans Separate disclosure Interest-bearing short-term debt 1,202
Other payable Other current liabilities Trade and other payable 14,953
Short-term derivative liabilities Other current liabilities Other short-term financial liabilities 566
Accrued bonus Separate disclosure Other current liabilities 5,504
Accrued expenses Separate disclosure Other current liabilities 16,362
The details about the main differences in adjustments are as follows.
Items Amount
658
-3,850
-4,026
Reserve for periodic repairs Recognized as the reserve

-962
Derecognized upon transfer
628
-247
646
Accrued vacation pay

Other current liabilities 1,293
Retained earnings
15,706
Japanese GAAP IFRS
A
B
C
D Asset retirement obligations provision of
foreign subsidiaries
E
F
G
H
Japanese GAAP IFRS
I Stock options Stock options granted after the fiscal year
ended March 2007 are recognized.
Stock options that were granted after
November 7, 2002 and vested on or after 1
A
p
ril 2008 are reco
g
nized.
J Cumulative translation differences Upon first-time adoption of IFRSs, all cumulative translation differences is transferred
to retained earnings on the date of the adoption of IFRSs.
Adjustment on disposal and liquidation of some overseas subsidiaries and adjustment
based on the translation of goodwill and financial numbers of overseas branches.
K
L Derecognition of notes receivable
transferred
Customer loyalty programmes Expenses corresponding to the points of
programmes are included in other current
liabilities (247).
M
N
O Please refer to the above details about the main differences in adjustments on the
assets, equity and liabilities.
Sales corresponding to the points of
programmes are included in other current
liabilities (646).
Derecognized when recourse obligation is
discharged

























16
(2) Reconciliation of profit for the year ended March 31, 2011
(Millions of Yen)
Japanese
GAAP
Reclassi-
fications
Notes
Adjust-
ments
Notes
Discontinued
operations
Eliminations
IFRS
Continuing operations
Revenue
Revenue
Sales
422,205 -29 A 886 J -11,214 1,500 413,349
Sales
Interest income
865 56 B 2 -5 918
Finance income
1,396 209 K 1,605
Share of profit of associates
Other non-operating income
2,487 11,845 B,C -6 -10,586 3,741
Other income
150 -150 C
Gain on business transfer
10,343 -10,343 C
Other extraordinary income
1,453 -1,453 C
Total revenue/income
438,899 -73 1,091 -21,805 1,500 419,613
Total revenue
Expenses
Expenses
Cost of sales
229,886 -229,886 D
117,908 -117,908 E,I
-4,515 D -532 L 214 -4,834
100,357 D 0 -2,882 1,500 98,975
94,738 D,E,H -12 -729 93,997
Employees benefits expense
31,025 D,E,F 268 M -925 30,369
Depreciation and amortization
7,395 D 7,395
Subcontracting cost
11,975 E 113 12,088
22,437 D,E 0 -928 21,510
Commission expense
102,555 D,E,F -4,336 N -6,393 91,827
Other expenses
45 -45 F
2,119 -2,119 F
2,172 -2,172 G
Maintainance of environment
580 -580 F
Other non-operating expenses
2,637 -2,637 A,F
Foreign exchange losses
7,765 -7,765 F
Interest expenses
1,924 612 H 49 2,585
Finance cost
613 -613 H
Impairment losses
1,689 255 O 1,944
Impairment losses
Loss on closing subsidiaries
1,069 -1,069 F
905 -905 F
Other extraordinary losses
1,169 -1,169 F
Total expenses
370,481 -289 -4,195 -11,643 1,500 355,855
Total expenses
Profit before income taxes
68,417 216 5,286 -10,162 63,758
Profit before tax
Income tax expense
11,110 216 I 3,015 P -288 14,053
Income tax expense
49,705
-9,873 9,873
Net profit before minority interests
57,307 2,271 59,579
Profit for the year
Minority interests
-160 -6 -166
Net profit
57,467 2,277 59,744
The details about the differences related to other comprehensive income are omitted.
Profit attributable to owners of the
Com
p
an
y
Profit attributable to minority interests
Row materials and consumables
used
Extraordinary loss on adopting
asset retirement obligation
IFRS
Changes in inventories of goods,
products and work in progress
Profit for the year from discontinued
operations
Japanese GAAP
Loss on disposal of property, plant
and equipment
Additional retirement benefits to
employees
Loss on write-down of investment
securities
Profit for the year from continuing
operations
Advertising and promotion
expense
Equity in earnings of associated
companies
Gain on sales of property, plant
and equipment
Sales and general administrative
Loss on sales of property, plant
and equipment
















17
(2) Reconciliation of profit for the year ended March 31, 2011
(Millions of Yen)
The details about the main differences in reclassification are as follows. The amount stated is the absolute value.
Items Amount
Sales discounts Other non-operating expenses Reduction in revenue
29
Dividends received, etc.Other non-operating income Finance income
56
Gain on sales of property, plant and equipment Other income
150
Gain on business transfer Other income
10,343
Other extraordinary income Other income
1,452
Cost of sales
4,515
Cost of sales Raw materials and consumables used
98,475
Cost of sales Employee benefits expense
41,789
Cost of sales Depreciation and amortization
23,927
Cost of sales Subcontracting cost
8,239
Cost of sales Commission expense
6,401
Cost of sales Other expenses
55,550
Sales and general administrative expenses Employee benefits expense
50,777
Sales and general administrative expenses Depreciation and amortization
6,738
Sales and general administrative expenses Advertising and promotion expense
11,936
Sales and general administrative expenses Commission expense
16,036
Sales and general administrative expenses Other expenses
30,471
Depreciation and amortization
361
Loss on sales of
p
ro
p
ert
y
,
p
lant and e
q
ui
p
ment
Other expenses
45
Loss on dis
p
osal of
p
ro
p
ert
y
,
p
lant and e
q
ui
p
ment
Other expenses
2,119
Maintenance of environment
Other expenses
580
Other non-o
p
eratin
g
ex
p
enses
Other expenses
2,249
Forei
g
n exchan
g
e losses
Other expenses
7,765
Loss on closin
g
subsidiaries
Other expenses
1,069
Other expenses
905
Other extraordinar
y
losses
Other expenses
1,169
Additional retirement benefits to employees Employee benefits expense
2,172
Loss on write-down of investment securities Finance costs 613
Part of enterprise tax Sales and general administrative expenses Income tax expense
216
The details about the main differences in adjustments are as follows.
Items Amount
-199
Customer loyalty programmes
1,086
Amortization Reversal of goodwill amortization
209
-532
111
Depreciation and amortization
118
Amortization of goodwill Amortization Reversal of goodwill amortization
-243
-663
Adjusting subsequent event Adjustment as a result of the change in the period for the adjusting subsequent event
-1,700
-905
-1,011
255
Recoverability of deferred tax assets, etc.Reexamination of the recoverability of all deferred tax assets
2,089
326
599
Japanese GAAP IFRS
A
B
C
Classification to the accounting items of IFRS based
on the nature of income
D Cost of sales is classified to the accounting items of
IFRS based on the nature of expenses.
F
G Classification to the accounting items of IFRS based
on the nature of expenses.
Changes in inventories of goods, products and
work in progress
E
Sales and general administrative expenses are
classified to the accounting items of IFRS based on the
nature of expenses.
Classification to the accounting items of IFRS based
on the nature of expenses.
Extraordinary loss on adopting asset retirement
obligation accounting standards
Depreciation included in other non-operating
expenses
H Classification to the accounting items of IFRS based
on the nature of ex
p
enses.
I
Japanese GAAP
K
Goodwill relating to investments based on the equity
method
IFRS
J
The amount of expenses corresponding to the
points of programmes is recognized as promotion
The cost of customer loyalty programmes are
identified as individual component of revenue.
Recognized when risks and rewards of
ownership are transferred
Mainly recognized upon shipmentRevenue recognition
Changes in depreciation methods and estimated useful lives
Finance lease contracts that started before March
2008
Rentals payable (Cost of sales and other
expenses of sales and general administrative
expenses)
L
Changes in inventories of goods, products and work in
progress
Adjustments as a result of the change in the revenue recognition policy and the depreciation
method
Financial statements of overseas branches
Impairment loss of
g
oodwill
M
Depreciation and amortisation
Deferred taxes related to the adjusting subsequent
event
Deferred taxes related to the subsequent event that is additionally recognized as a result of the
change in the period for the subsequent event

Adjustment because the same translation as overseas subsidiaries was executed on overseas
branches.
O
Asset retirement obligations provision of foreign
subsidiaries
Cancel the extraordinary loss on adopting asset retirement obligation accounting standards based
on Japanese GAAP from this fiscal year.
Adjustment to loss on disposal of property, plant and
equipment
Adjustment to loss on disposal of property, plant and equipment as a result of the change in
depreciation
Impairment b
y
book value before amortizationImpairment b
y
book value after amortization
Adjustments of deferred taxes as a result of the
elimination of unrealized profit on inventories
Difference between the amount calculated based on the tax rates that are used under Japanese
GAAP and that calculated based on the tax rates that are used under IFRS
P













18
(3) Reconciliation of equity at March 31, 2010
As of March 31, 2010 (Millions of Yen)
Japanese
GAAP
Reclassi-
fications
Notes
Adjust-
ments
Notes
IFRS
ASSETS ASSETS
NON-CURRENT ASSETS NON-CURRENT ASSETS
Property, plant and equipment-ne
t
119,190 -325
A
3,338 K 122,203
Property, plant and equipment-net
3,530 B 1,954 L 5,484
Goodwill
Intangible assets
24,569 -4,916 B,C -1,870 M 17,782
Other intangible assets
Investment securities
11,055 -11,055 D,E
7,689 D 1,525 N 9,214
Investments in associates
18,809 E,F 18,809
Long-term financial assets
Other non-current assets
17,522 -14,560 C,F 2,963
Other non-current assets
Allowance for doubtful accounts
-504 504 F
Deferred tax assets
32,657 5,973 G 6,053 O 44,684
Deferred tax assets
Total non-current assets
204,489 5,649 11,000 221,138
CURRENT ASSETS CURRENT ASSETS
Inventories
61,466 -5 -247 P 61,214
Inventories
Trade and notes receivables
93,612 886 H -200 Q 94,298
Trade and other receivables
Deferred tax assets
5,973 -5,973 G
5,586 I 5,586
Other short-term financial assets
2,326 J 2,326
Income tax receivables
Other current assets
12,714 -5,248 H,I,J,7,466
Other current assets
Allowance for doubtful accounts
-1,826 1,826 H
Cash and deposits
173,308 -5,369 I 167,938
Cash and cash equivalents
338,827
Sub total
325
A
325
Assets held for sale
Total current assets
345,248 -5,649 -447 339,152
Total current assets
TOTAL ASSETS
549,737 - 10,553 560,290
TOTAL ASSETS
Japanese GAAP IFRS
Total non-current assets



























19
(3) Reconciliation of equity at March 31, 2010
As of March 31, 2010 (Millions of Yen)
The details about the main differences in reclassification are as follows. The amount stated is the absolute value.
Items Amount
Assets held for sale Property, plant and equipment Current assets 325
Goodwill Intangible assets Separate disclosure 3,530
Leasehold rights Intangible assets Other non-current assets 1,387
Equity-method investments Investment securities Separate disclosure 7,689
Available-for-sale financial assets Investment securities Long-term financial assets 3,366
15,062
504
Short-term deferred tax liabilities Current assets Non-current assets 5,973
Other receivables Other current assets Trade and other receivables 2,711
Allowance for doubtful accounts Separate disclosure Trade and other receivables 1,826
Time deposit over 3 months Cash and deposits Other short-term financial assets 5,369
Short-term loans receivable Other current assets Other short-term financial assets 216
Income tax receivables Other current assets Separate disclosure 2,326
The details about the main differences in adjustments are as follows.
Items Amount
263
Real estate acquisition tax Processing as expenses Stating in assets 223

454
2,399
Goodwill amortization Amortization Reversal of amortization 2,232
-278
Adjusting subsequent event
-1,874
1,525
1,423
4,032
362
-609
-504
428
O Adjustments of deferred taxes as a
result of the elimination of unrealized
profit on inventories
Q Changes in trade and other
receivables as a result of revenue
recognition
P
Depreciation and amortization, etc.
Recoverability of deferred tax
assets, etc.
Changes in inventories as a result of
revenue recognition
M Adjustment as a result of the change in the period for the adjusting
subsequent event
N Goodwill amortization of the
invested entity accounted under the
equity method
Reversal of amortization (Negative
goodwill is included in income.)
Amortization
L
Translation of goodwill denominated
in a foreign currency
Translated based on the foreign
exchange rate on the acquisition
Translated based on the foreign
exchange rate on the reporting
Japanese GAAP IFRS
K Finance lease contracts that started
before March 2008
Processing as expenses Stating in assets
G
H
I
J
Long-term financial assets
Allowance for doubtful accounts
Allowance for doubtful accounts
(Non-current assets)
Long-term financial assets
E
F Long-term deposits, lease deposits,
non-current other receivables, and
non-current loans receivable
Other non-current assets
Japanese GAAP IFRS
C
D
A
B
Mainly recognized upon shipment
Reexamination of the recoverability of all deferred tax assets
Stating in assets
Difference between the amount calculated based on the tax rates that
are used under Japanese GAAP and that calculated based on the tax
rates that are used under the IFRS
Recognition of non-current assets
related to asset retirement
obligations provision
Depreciation and amortization
(including component accounting)
Adjustments of depreciation and amortization as a result of the review
of depreciation method and estimated useful lives
Derecognized when recourse
obligation is discharged
Derecognized upon transferDerecognition of notes receivable
transferred
Recognized when risks and
rewards of ownership are
The outstanding balance of inventories is adjusted, due to the
difference in depreciation methods and other factors.
Mainly recognized upon shipment Recognized when risks and
rewards of ownership are
transferred











20
(3) Reconciliation of equity at March 31, 2010
As of March 31, 2010 (Millions of Yen)
Japanese
GAAP
Reclassi-
fications
Notes
Adjust-
ments
Notes
IFRS
EQUITY EQUITY
Share capital
6,264 6,264
Share capital
Capital reserves
15,899 15,899
Capital reserves
Treasury shares
-11,010 -11,010
Treasury shares
Stock subscription rights
1,231 -1,231 A
-3,632 A,B 618 I -3,014
Other capital reserves
Retained earnings
377,727 4,863 B 13,429 P 396,019
Retained earnings
Unrealised profit (loss) on
translation adjustments and
others
-39,827 -6,775 J -46,603
357,555
Minority interests
1,189 6 1,194
Minority interests
Total equity
351,473 7,278 358,749
Total equity
LIABILITIES LIABILITIES
NON-CURRENT LIABILITIES NON-CURRENT LIABILITIES
Bonds
99,979 2,877 C 139 102,995
Interest-bearing long-term debt
Long-term bank loans
1,830 -1,830 C
7 7
Other long-term financial liabilities
Retirement benefits obligation
8,244 -58 8,186
Retirement benefits obligation
1,358 D 360 K,L 1,718
Other provisions
Reserve for periodic repairs
918 -918 D
Other non-current liabilities
3,304 -1,607 C,D 6 1,704
Other non-current liabilities
124 -114 10
Deferred tax liabilities
Total non-current liabilities
114,275 11 333 114,619
Total non-current liabilities
CURRENT LIABILITIES CURRENT LIABILITIES
Short-term bank loans
334 3,419 E 537 M 4,290
Interest-bearing short-term debt
Current portion of long-term
bank loans
3,278 -3,278 E
Trade and notes payables
33,128 14,813 F -662 N 47,279
Trade and other payables
385 G 385
Other short-term financial liabilities
Income tax payables
4,469 4,469
Income tax payables
Accrued bonus, Allowance for
product's warranty
5,597 -4,717 H 24 903
Other provisions
Accrued expenses
16,152 -16,152 H
Other current liabilities
21,032 5,518 F,G,H 3,044 N,O 29,595
Other current liabilities
Total current liabilities
83,990 -11 2,943 86,922
Total current liabilities
Total liabilities
198,265 - 3,276 201,541
Total liabilities
549,737 - 10,553 560,290
Japanese GAAP IFRS
Equity attributable to owners of the
Company
Total equity and liabilities Total equity and liabilities
Accumulated other comprehensive
income/(loss)















21
(3) Reconciliation of equity at March 31, 2010
As of March 31, 2010 (Millions of Yen)
The details about the main differences in the items stated are as follows. The amount stated is the absolute value.
Items Amount
Stock subscription rights Separate disclosure Other capital reserves 1,231
Loss on disposal of treasury shares Retained earnings Other capital reserves 4,863
Long-term bank loans Separate disclosure Interest-bearing long-term debt 1,830
Long-term finance lease obligations Other non-current liabilities Interest-bearing long-term debt 1,048
Other non-current liabilities
440
Reserve for periodic repairs
Separate disclosure
918
Separate disclosure Interest-bearing short-term debt
3,278
Other payable Other current liabilities Trade and other payable
14,813
Short-term derivative liabilities Other current liabilities
385
Accrued bonus Separate disclosure Other current liabilities
4,717
Accrued expenses Separate disclosure Other current liabilities
16,152
The details about the main differences in adjustments are as follows.
Items Amount
618
Cumulative translation differences
-3,850
-2,925
1,278
Reserve for periodic repairs Recognized as the reserve -
-918
Derecognized upon transfer
428
-662
1,731
Accrued vacation pa
y
- Other current liabilities
1,314
Retained earnings
13,429
Property, plant and equipment related
2,463
Asset retirement obligations provision
-848
Reversal of goodwill amortisation
3,870
Adjusting subsequent event
-1,997
Deferred taxes
6,247
Inventories related
-247
Stock options
-618
Cumulative translation differences
6,298
Reserve for periodic repairs
918
Accrued vacation pa
y
-1,314
Customer loyalty programmes
-1,069
Other provisions (non-current
liabilities)
Japanese GAAP IFRS
Other provisions (non-current
liabilities)
A
B
Asset retirement obligations provision
of foreign subsidiaries
E
C
D
F
J
Upon first-time adoption of IFRSs, all cumulative translation differences
is transferred to retained earnings on the date of the adoption of IFRSs.
G
H
I
Adjustment on disposal and liquidation of some overseas subsidiaries
and adjustment based on the translation of goodwill and financial
numbers of overseas branches
K
Asset retirement obligations of
domestic companies
Recognized from the fiscal year
ended March 2011
Recognized from the date of the
adoption of IFRSs
L
M
N Customer loyalty programmes Expenses corresponding to the
points of programmes are included
in other current liabilities (662).
O
P Please refer to the above details about the main differences in
adjustments on the assets, equity and liabilities.
Sales corresponding to the points
of programmes are included in
other current liabilities (1,731).
Refer to K of Assets.
Refer to K of Assets and K of Assets and liabilities.
Refer to L and N of Assets.
Refer to M of Assets.
Refer to L of Equity and liabilities.
Refer to O of Equity and liabilities.
Refer to N of Equity and liabilities.
Refer to O of Assets.
Refer to P of Assets.
Refer to I of Equity and liabilities.
Refer to J of Equity and liabilities.
Derecognized when recourse
obligation is discharged
Derecognition of notes receivable
transferred
Current
p
ortion of lon
g
-term bank
Other short-term financial liabilities
Japanese GAAP IFRS
Stock options Stock options granted after the fiscal
year ended March 2007 are
recognized.
Stock options that were granted
after November 7, 2002 and
vested on or after 1 April 2008 are
recognized.














22
(4) Reconciliation of profit for the year ended March 31, 2010
(Millions of Yen)
Japanes
e
GAAP
Reclassi-
fication
Notes
Adjust-
ments
Notes
Discontinued
operations
Eliminations
IFRS
Continuing operations
Revenue Revenue
Sales 413,525 -25 A 226 K -16,478 5,182 402,430 Sales
Interest income 832 88 B -8 912 Finance income
255 211 L 466 Share of profit of associates
Other non-operating income 4,561 1,276
B,C
-117
M
-378 5,341
Other income
287 -287 C
10 -10
30 -30
Commission for prior years 1,013 -1,013 C
Other extraordinary income 183 -183
C
Total revenue/income 420,696 -184 320 -16,864 5,182 409,149
Total revenue
Expenses Expenses
Cost of sales 233,076 -233,076 D
116,121 -116,121 E,J
11,059
D
133
N
-262 10,930
93,799 D -8,914 5,182 90,069
93,067 D,E,H -145 O -1,647 91,275 Em
p
lo
y
ees benefits ex
p
ense
34,411
D,E,F
-457
P
-2,782 31,172 De
p
reciation and amortization
7,046 D 7,046
Subcontracting cost
10,974 E -325 Q 10,648
21,991
D,E
-227 21,764 Commission ex
p
ense
94,510 D,E,G -519 R -1,990 92,001 Other ex
p
enses
418 -418 F
658 -658 G
1,012 -1,012
G
1,932 -1,932 H
Maintainance of environment 1
,
883 -1
,
883 G
Loss re
g
ardin
g
Antimono
p
ol
y
Act 1,447 -1,447
G
Other non-o
p
eratin
g
ex
p
enses 1,568 -1,568 A,G
Forei
g
n exchan
g
e losses 6,489 -6,489 G
Interest expenses
2
,
206 602 I 88 2
,
896 Finance cost
587 -587 I
Im
p
airment losses 834 834 Im
p
airment losses
Forei
g
n withholdin
g
tax 1
,
489 -1
,
489 G
Other extraordinar
y
losses 1,216 -1,216
G
Total ex
p
enses 370,935 -436 -1,224 -15,821 5,182 358,635
Total expenses
Profit before income taxes 49,761 251 1,544 -1,043 50,514
Profit before tax
Income tax ex
p
ense 11,590 251
J
-1,802
S
-82 9,957
Income tax expense
40,557
-961 961
Net
p
rofit before minorit
y
interests 38,172 3,346 41,517
Profit for the year
Minority interests
297 7 304
Profit attributable to minority interests
Net profit
37,875 3,339 41,214
The details about the differences related to other comprehensive income are omitted.
Profit attributable to owners of the
Com
p
an
y
Advertising and promotion
expense
Row materials and consumables
used
Changes in inventories of goods,
products and work in progress
Profit/(loss) for the year from
discontinued operations
Japanese GAAP IFRS
Depreciation and amortization
included in non-operatin
g
Loss on sales of property, plant
and equipment
Equity in earnings of associated
Gain on sales of property, plant
and equipment
Reversal of allowance for
doubtful accounts
Reversal of allowance for periodic
repairs
Sales and general administrative
expenses
Loss on disposal of property,
plant and equipment
Additional retirement benefits to
employees
Loss on write-down of investment
securities
Profit for the year from continuing
operations













23
(4) Reconciliation of profit for the year ended March 31, 2010
(Millions of Yen)
The details about the main differences in reclassification are as follows. The amount stated is the absolute value.
Items Amount
Sales discounts Other non-operating expenses Reduction in revenue 25
Dividends received, etc.Other non-operating income Finance income 88
Gain on sales of property, plant and equipment Other income 287
Commission for prior years Other income 1,013
Other extraordinary income Other income 183
Cost of sales
11,059
Cost of sales Raw materials and consumables used 93,865
Cost of sales Employee benefits expense 40,820
Cost of sales Depreciation and amortization 27,012
Cost of sales Subcontracting cost 7,041
Cost of sales Commission expense 5,601
Cost of sales Other expenses 47,677
Sales and general administrative expenses Employee benefits expense 50,315
Sales and general administrative expenses Depreciation and amortization 6,982
Sales and general administrative expenses Advertising and promotion expense 10,935
Sales and general administrative expenses Commission expense 16,390
Sales and general administrative expenses Other expenses 31,500
Depreciation and amortization
418
Loss on sales of
p
ro
p
ert
y
,
p
lant and e
q
ui
p
ment
Other expenses 658
Other expenses
1,012
Maintenance of environment
Other expenses 1,883
Loss re
g
ardin
g
Antimono
p
ol
y
Act
Other expenses 1,447
Other non-o
p
eratin
g
ex
p
enses
Other expenses 1,568
Forei
g
n exchan
g
e losses
Other expenses 6,489
Forei
g
n withholdin
g
tax
Other expenses 1,489
Other extraordinar
y
losses
Other expenses 1,216
Additional retirement benefits to employees Employee benefits expense
1,932
Loss on write-down of investment securities Finance costs
587
Part of enterprise tax Sales and general administrative expenses Income tax expense 251
The details about the main differences in adjustments are as follows.
Items Amount
Revenue recognition Mainly recognized upon shipment
-56
Customer loyalty programmes
282
Amortization Reversal of goodwill amortization
211
-117
133

Reco
g
nized as
p
ersonnel ex
p
enses
-145
Stock options
Recognized over the certain period
-797
Depreciation and amortization
330
Customer loyalty programmes
-328
Amortization of goodwill Amortization Reversal of goodwill amortization 477
-872
Adjusting subsequent event Adjustment as a result of the change in the period for the adjusting subsequent event 1,997
Cumulative translation differences
-1,200
Recoverability of deferred tax assets, etc.Reexamination of the recoverability of all deferred tax assets 1,037
165
599
Deferred taxes related to the adjusting subsequent
event
Deferred taxes related to the subsequent event that is additionally recognized as a result of
the change in the period for the subsequent event
Adjustments due to the sales or liquidation of some overseas subsidiaries and the translation
of goodwill or financial numbers of overseas branches
S
Adjustments of deferred taxes as a result of the
elimination of unrealized profit on inventories
Difference between the amount calculated based on the tax rates that are used under
Japanese GAAP and that calculated based on the tax rates that are used under the
designated International Financial Reporting Standards
Q
The amount of expenses corresponding to the
points of programmes is recognized as
promotion costs.
R
Adjustment to loss on disposal of property, plant and
equipment
Adjustment to loss on disposal of property, plant and equipment as a result of the change in
depreciation
The cost of customer loyalty programmes
are identified as individual component of
revenue.
P
Depreciation and amortisation Changes in depreciation methods and estimated useful lives
Finance lease contracts that started before March
2008
Rentals payable (Cost of sales and other
expenses of sales and general administrative
O
Accrued vacation pay
Stock options granted in or after the fiscal year
ended March 2007 are recognized.
Stock options that were granted in and after
November 7, 2002 and vested on or after 1
April 2008 are recognized.
Past service cost of the employees with the defined
benefit plan
Recognized to profit due to its benefit
vested
M Adjustment to gain on sales of property, plant and
equipment
Adjustment to gain on sales of property, plant and equipment as a result of the change in
depreciation
N
Changes in inventories of goods, products and work
in progress
Adjustments as a result of the change in the revenue recognition policy and the depreciation
method
IFRS
K
The amount of expenses corresponding to the
points of programmes is recognized as
promotion costs.
L
Goodwill relating to investments based on the equity
method
The cost of customer loyalty programmes
are identified as individual component of
revenue.
Recognized when risks and rewards of
ownership are transferred
I Classification to the accounting items of the IFRS
based on the nature of ex
p
enses.
J
Japanese GAAP
Depreciation and amortization included in non-
operating expenses
G
Classification to the accounting items of the IFRS
based on the nature of expenses.
H Classification to the accounting items of the IFRS
based on the nature of expenses.
Loss on disposal of property, plant and
e
q
ui
p
ment
E
Sales and general administrative expenses are
classified to the accounting items of the IFRS based
on the nature of expenses.
F
Depreciation and amortization included in non-
operating expenses
Japanese GAAP IFRS
A
B
Changes in inventories of goods, products
and work in progress
C
Classification to the accounting items of the IFRS
based on the nature of income
D Cost of sales is classified to the accounting items of
the IFRS based on the nature of expenses.









24
Part 3.
4th Quarter : Three months ended March 31, 2011
<Japanese GAAP>
(1) Quarterly Consolidated Statement of Income (Japanese GAAP)
HOYA CORPORATION and Consolidated Subsidiaries (Millions of Yen)
Amount (%) Amount (%) Amount (%)
Net sales 104,839 100.0 101,087 100.0 -3,752 -3.6
Cost of sales 58,090 55.4 56,707 56.1 -1,383 -2.4
Gross profit 46,749 44.6 44,379 43.9 -2,370 -5.1
Selling, general and administrative expenses 29,420 28.1 28,774 28.5 -646 -2.2
Operating income 17,328 16.5 15,605 15.4 -1,723 -9.9
Non-operating income
Interest income 207 283 76
Equity in earnings of associated companies 1,128 857 -271
Others 942 278 -664
Total non-operating income 2,278 2.2 1,419 1.4 -859 -37.7
Non-operating expenses
Interest expense 513 462 -51
Loss on foreign exchange 667 394 -273
Others 1,413 978 -435
Total non-operating expenses 2,594 2.5 1,834 1.8 -760 -29.3
Ordinary income 17,012 16.2 15,190 15.0 -1,822 -10.7
Extra-ordinary gains
Gain on sales of property, plant and equipment 31 50 19
Others 1,158 801 -357
Total extra-ordinary gains 1,190 1.1 852 0.9 -338 -28.4
Extra-ordinary losses
Loss on sales of property, plant and equipment 20 8 -12
Loss on disposal of property, plant and equipmen 745 256 -489
Loss on impairment 44 1,689 1,645
Loss on write-down of investment securities 333 252 -81
Additional retirement benefits paid to employees 240 225 -15
Loss on disaster - 776 776
Others 173 220 47
Total extra-ordinary losses 1,557 1.5 3,428 3.4 1,871 120.2
Income before income taxes and minority interests 16,645 15.8 12,613 12.5 -4,032 -24.2
Income taxes - Current 484 0.5 1,231 1.2 747 154.3
Income taxes - Deferred 4,145 3.9 979 1.0 -3,166 -76.4
Total income taxes 4,629 4.4 2,211 2.2 -2,418 -52.2
Income before minority interests 12,015 11.4 10,401 10.3 -1,614 -13.4
Minority interests in net income 133 0.1 61 0.1 -72 -54.1
Net income 11,882 11.3 10,340 10.2 -1,542 -13.0
Net income per share(Yen)
27.48 23.97 -3.51
27.45 23.96 -3.49
Notes:
1.
2011 B 2011 A influences
Net sales 104,467 101,087 -3,380
Operating income 15,914 15,605 -309
Ordinary income 15,519 15,190 -329
Net income 10,467 10,340 -127
2.Average rates of major foreign currencies
US$ Yen 90.75 82.33 9.3%
Euro Yen 123.71 113.77 8.0%
Thai Baht Yen 2.76 2.69 2.5%
For the three months
ended March 31,2010
For the three months
ended March 31,2011
Variance
Net income per share after adjustment of potential
shares
(
Yen
)
Effect of Exchange Rate Change on Net Sales and Incomes ("2011 A"is the actual value of this period."2011 B"is the
nominal value of this period which temporarily exchanged by the currency rate of the same period last year.unit:millions of
For the three months
ended March 31,2010
For the three months
ended March 31,2011
Variance(%)





25
(Japanese GAAP)
(Millions of Yen)
For the three
months ended
March 31,2010
For the three
months ended
March 31,2011
Variance
Cash flows from operating activities
Income before income taxes and minority interests
16,645 12,613 -4,032
Depreciation and amortization
8,950 8,042 -908
Loss on impairment of long-lived assets
44 1,689 1,645
26 636 610
Provision for (reversal of ) accrued bonuses to employees
2,273 2,433 160
Provision for (reversal of ) reserve for special repairs
-306 -17 289
Provision for (reversal of ) reserve for retirement benefit
42 -43 -85
Interest and dividend income
-205 -283 -78
Interest expense
513 462 -51
Foreign exchange loss (gain)
385 1,254 869
Equity in (earnings) losses of affiliates
-1,128 -857 271
Gain (loss) on sales of property, plant and equipment
-11 -42 -31
Loss on disposal of property, plant and equipment
745 256 -489
Loss (gain) on evaluation of investment securities
333 252 -81
Special additional retirement benefits paid to employees
240 225 -15
(Increase) decrease in notes and accounts receivable
-710 2,734 3,444
(Increase) decrease in inventories
2,086 -2,068 -4,154
(Increase) decrease in other current assets
-451 -49 402
Increase (decrease) in notes and accounts payable
-3,131 -2,696 435
Increase (decrease) in income taxes payable
42 -160 -202
Increase (decrease) in other current liabilities
833 -422 -1,255
Other
-20 57 77
Sub total
27,197 24,016 -3,181
Interest and dividend - received
155 206 51
Interest - paid
-809 -884 -75
Special additional retirement benefits paid to employees - paid
-635 -772 -137
Income taxes - paid
-1,180 -948 232
Refund of income taxes
77 - -77
Net cash generated from operating activities
24,803 21,617 -3,186
Cash flows from financing activities
Payments for time deposit
-815 -669 146
Proceeds from refund of time deposit
-48 289 337
Payments for purchases of property, plant and equipment
-11,426 -5,790 5,636
Proceeds from sales of property, plant and equipment
155 167 12
Payments on merger to minority shareholders
-12 0 12
Payments for other investments
-784 -642 142
Proceeds from other investments
152 162 10
Net cash used in investing activities
-12,778 -6,483 6,295
Cash flows from financing activities
Net increase (decrease) in short-term bank loans
-48 -40 8
Net increase (decrease) in commercial paper
-9,997 - 9,997
Repayments of long-term debt
-931 -580 351
Proceeds from exercise of stock options
110 11 -99
Proceeds from sales of treasury stock
-6 0 6
Payments for purchase of treasury stock
-3,272 -1 3,271
Dividends paid
17 49 32
Net cash used in financing activities
-14,128 -560 13,568
Net increase/(decrease) in cash and cash equivalents
-469 8,443 8,912
Cash and cash equivalents at the beginning of the year
-2,572 23,017 25,589
170,511 162,234 -8,277
Cash and cash equivalents at the end of the year
167,938 185,251 17,313
(2)Quarterly Consolidated Statement of Cash Flows
Effects of exchange rate changes on the balance of cash and
cash equivalents in foreign currencies
Provision for (reversal of ) accrued allowances for doubtful



26
(3) Segment Information (Japanese GAAP)
HOYA CORPORATION and Consolidated Subsidiaries
for the three months ended March 31, 2010
Millions of Yen
Information
Technology
Life Care Others Total
Elimination or
corporate
Consoli-
dated
Net sales:
To outside customers
53,722 50,713 403 104,839 - 104,839
Intersegment
25 9 967 1,002 -1,002 -
Total
53,747 50,723 1,370 105,841 -1,002 104,839
Operating income
9,713 9,566 215 19,496 -2,167 17,328
Operating margin
18.1% 18.9% 15.8% 18.4% - 16.5%
for the three months ended March 31, 2011
Millions of Yen
Information
Technology
Life Care Others Total
Elimination
or corporate
Consoli-
dated
Net sales:
To outside customers
49,177 51,481 426 101,085 2 101,087
Intersegment
41 - 925 967 -967 -
Total
49,219 51,481 1,351 102,052 -965 101,087
Operating income
7,120 10,498 273 17,892 -2,287 15,605
Operating margin
14.5% 20.4% 20.3% 17.5%

15.4%
Ref : Difference between the quarter under review and the same quarter last year
Millions of Yen
Information
Technology
Life Care Others Total
Elimination or
corporate
Consoli-
dated
Net sales:
To outside customers
-4,545 768 23 -3,754 2 -3,752
Variance (%)
-8.5% 1.5% 5.7% -3.6%

-3.6%
Intersegment
16 -9 -42 -35 35 -
Total
-4,528 758 -19 -3,789 37 -3,752
Operating income
-2,593 932 58 -1,604 -119 -1,723
Variance (%)
-26.7% 9.7% 27.0% -8.2% 5.5% -9.9%
Re:The Company has changed the segmentation from this fiscal year. The results of the same period last year were re-
classified by the new segmentation policy:



















27
(4) Composition of Net Sales by Segments (Japanese GAAP)
HOYA CORPORATION and Consolidated Subsidiaries
(Millions of Yen)
Variance
(%)
Information Technolog
y
Domestic
17,674 ( 32.9 ) 14,841 ( 30.2 ) -2,833 -16.0 18,253 ( 31.7 )
Overseas
36,047 ( 67.1 ) 34,335 ( 69.8 ) -1,712 -4.7 39,298 ( 68.3 )
total
53,722 [ 51.2 ]
49,177 [ 48.7 ]
-4,545 -8.5 57,551 [ 53.1 ]
Life Care
Domestic
20,557 ( 40.5 )
21,249 ( 41.3 )
692 3.4 22,079 ( 43.7 )
Overseas
30,156 ( 59.5 )
30,232 ( 58.7 )
76 0.3 28,414 ( 56.3 )
total
50,713 [ 48.4 ]
51,481 [ 50.9 ]
768 1.5 50,494 [ 46.6 ]
Others
Domestic
234 ( 58.1 ) 286 ( 67.1 ) 52 22.2 246 ( 62.4 )
Overseas
168 ( 41.7 ) 139 ( 32.9 ) -29 -17.3 147 ( 37.6 )
total
403 [ 0.4 ]
426 [ 0.4 ]
23 5.7 394 [ 0.3 ]
Corporate
Domestic
- ( - ) -
(

)
- - - ( - )
Overseas
- ( - )
2 ( 100.0 )
2 - 9 ( 100.0 )
total

[

]
2 [ 0.0 ]
2

9 [ 0.0 ]
Total Net Sales
Domestic
38,466 ( 36.7 ) 36,378 ( 36.0 ) -2,088 -5.4 40,579 ( 37.4 )
Overseas
66,372 ( 63.3 )
64,709 ( 64.0 )
-1,663 -2.5 67,870 ( 62.6 )
Total
104,839 [ 100.0 ]
101,087 [ 100.0 ]
-3,752 -3.6 108,449 [ 100.0 ]
Notes:
1.
2.Figures of less than a million yen are omitted.
3.Figures in ( ) are percentages of business category sales.
4.Figures in [ ] are percentages of total net sales.
Three months
ended Dec. 31,
2010
The Company has changed the segmentation from this fiscal year. The results of the same period
last year were re-classified by the new segmentation policy.
Three months
ended March 31,
2010
Three months
ended March 31,
2011
Reportable
Segments