TOKYO—Hoya Corp.’s net sales plummeted 38.9 percent in the fourth quarter ended March 31, 2009, the company reported last week. Net sales were 82.9 billion yen for the quarter, down from 135.8 billion yen in the same period of 2008. Hoya said the decrease was primarily due to an appreciation of the yen and sharp drop for the product price resulting from global economic downturn in the main business fields such as electro-optics.

Operating loss for the fourth quarter was 60 million yen compared to operating income of 18.0 billion yen for the same period of 2008. Net loss for the fourth quarter was 27.8 billion yen compared to net income of 21.0 billion yen for the fourth quarter of 2008, due to posting the loss on impairment of fixed assets.

In Hoya’s vision care section, which produces ophthalmic lenses, fourth quarter sales amounted to 24,687 million yen, down 20.2 percent from year-ago. In Hoya’s health care section, which produces contact lenses, fourth sales amounted to 12,326 million yen, up 6.8 percent from year-ago.

For the fiscal year 2009 ended March 31, 2009, Hoya’s total net sales fell 5.7 percent over the fiscal year 2008, to 454.1 billion yen. Operating income fell 37.8 percent to 59.0 billion yen, and net income was down 69.3 percent, to 25.1 billion yen.

In Hoya’s vision care section, year-end sales amounted to 110,725 million yen, down 12.4 percent from 2008. In Hoya’s health care section, year-end sales amounted to 49,967 million yen, up 8.2 percent from 2008.

“There was a drastic inventory adjustment by high-tech manufacturers in the second half of FY 2009, and in response to that, we are seeing a push back of customer demands in electro-optics fields in the first quarter of FY 2010,” said Hiroshi Suzuki, chief executive officer of Hoya. “Looking forward, we see opportunities to grow our business by generating stable profit from electro-optics business without great investment, and by investing to the medical business including eyecare and endoscope to increase the market share. At the same time, we are seeking a new business opportunity to be added to our portfolio for future growth.”