Originally posted by rburgoss I'll be suspicious of any "report" not signed or not written on official letterhead paper from the given company it talks about.
I have no doubts that HOYA probably lost money during the past fiscal year, but to blame it on Pentax is way over reasonable interpretations. It is my understanding that Pentax represents less than 10% of Hoya's business, and if that is true, it means that even if not one single Pentax product got sold this year, total company sales should not be lower than 10% of what expected.
People can't read........
Operating income is also expected to decrease year-on-year basis,
mainly because of the decline in sales AND amortization of the goodwill in PENTAX.
http://en.wikipedia.org/wiki/Amortize
AND
Extraordinary losses
(1) Reason and the details of extraordinary losses
To respond to the changes in the business environment and improve the Company’s
operating and profit structure, the Company has been restructuring the human recourses. As
a result, the Company expects to record additional retirement benefits as extraordinary losses
for the third quarter of the fiscal year ending March 31, 2009 (October 1, 2008 through
December 31, 2008), and also expects approximately 10 billion yen (consolidated base) to
be recorded for the fourth quarter of the subjective fiscal year (January 1, 2009 throug
AND Hoya only MADE (as in profit) 1/2 as much as the year before... I realize that to some not making as much is the same as losing money, but it really isn't.....depending on the circumstances and reserves.......
This is nothing unexpected.... it will take Hoya at least 3 years to decide on a new direction, if needed..
Heck, they don't even have to go into their cash reserves......... and their cash cow division got hit too........
SEE p5:
http://www.hoya.co.jp/english/investor/2009_3Q_graph.pdf
Last edited by jeffkrol; 02-16-2009 at 03:32 PM.