ＨＯＹＡ（7741） – Quarterly Report for the three months ended Mar.31,2022

May 6, 2022Quarterly Report4th Quarter : 3 months ended March 31, 2022Annual : Fiscal year ended March 31, 2022Consolidated (HOYA CORPORATION and Consolidated Subsidiaries)4th Quarter : from January 1 to March 31, 2022 1. Quarterly Consolidated Financial Highlights : p.12. Results of Operations : p.23. Quarterly Consolidated Financial Statements (1) Quarterly Consolidated Statement of Financial Position : p.4 (2) Quarterly Consolidated Statement of Cash Flows : p.6 (3) Quarterly Consolidated Statement of Comprehensive Income : p.7 (4) Segment Information : p.8　　＜Reference＞Supplementary data for 4th Quarter : p.11Part .1Part .2Annual : from April 1, 2021 to March 31, 2022 1. Consolidated Financial Highlights : p.122. Consolidated Financial Statements (1) Consolidated Statement of Financial Position : p.13 (2) Consolidated Statement of Cash Flows : p.15 (3) Consolidated Statement of Comprehensive Income : p.16 (4) Segment Information : p.17 ＜Reference＞Supplementary data for the Full Year : p.20Notes: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 preparedfor the references only of foreign investors.HOYA CORPORATIONThis report is provided solely for the information of professional analysts who are expected to make their ownevaluation of the company. This report contains forward-looking statements that are based on management’sassumptions and beliefs in light of the information currently available to it and therefore you should not place unduereliance on them.These forward-looking statements involve known and unknown risks, uncertainties and other factors that maycause our actual results, performance or achievements to differ materially from that anticipated in thesestatements. These factors include changes in economic conditions, trends in our major markets, currencyexchange rates, etc.We accept no liability whatsoever for any direct or consequential loss arising from any use of this report.Part.1May 6, 20221. Quarterly Consolidated Financial Highlights HOYA CORPORATION and Consolidated Subsidiaries1. Performance for the three months ended March 31, 2021 and 2022 (All operations *Notes) ( The yen amounts shown therein are rounded off to the nearest million.) (1)Revenue and Profit before tax Revenue Profit before tax Ratio of profit before tax(%)Profit for the quarter Ratio of profit for the quarter(%) Profit attributable to owners of the CompanyRatio of profit attributable to owners of the Company(%)Basic earnings per share (yen)Diluted earnings per share (yen) (2)Financial Position Total assets Total equityEquity attributable to owners of the CompanyRatio of assets attributable to owners of the CompanyAssets attributable to owners of the Company per share (yen) (3) Conditions of Cash Flows Net cash generated from operating activities Net cash used in investing activitiesFree cash flowNet cash provided by (used in ) financing activities Cash and cash equivalents at end of period 2.Dividends per ShareInterim (Yen)Year-end (Yen)Annual (Yen)3.OtherCapital expenditureR&D expensesNotes:Variance(%)12.030.230.227.1 Three months ended Mar. 31, 2021 Mar. 31, 2022169,59453,77731.7%40,14723.7%39,42223.2%107.39107.29151,39441,29627.3%30,82520.4%31,01720.5%83.6183.50As ofDec.31,2021 Mar. 31, 2022992,839 789,056 803,85181.0%2,201.68 962,139771,997787,26181.8%2,133.66Three months endedMar. 31, 2021 Mar. 31, 202254,044-8,93645,108-62,027419,40452,483-7,77644,707-43,519334,897Year ended/endingMar. 31, 2021 Mar. 31, 202245.0065.00110.0045.0045.0090.00Three months endedMar. 31, 2021 Mar. 31, 202210,0526,6119,9846,389″All operations” means here that the figures are including not only “Continuing operations” but also “Discontinued operations”.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.-1-2. Results of Operations1) General OverviewHOYA Group sales for the fourth quarter of the consolidated fiscal year under review (three months from January 1to March 31, 2022) amounted to 169,594 million yen, an increase of 12.0% from the same period of the previousfiscal year (three months from January 1 to March 31, 2021).Quarterly profit before tax amounted to 53,777 million yen, and quarterly profit amounted to 40,147 million yen, up30.2% and 30.2% respectively.The quarterly profit margin before tax was 31.7%, representing a year-on-year increase of 4.4 points.Disclosed figures and change ratios are for businesses with continuing operations. There were no discontinuedbusinesses in the fourth quarter or the same quarter of the previous year.In the Life Care segment, in healthcare-related products, sales of eyeglass lenses increased significantly, and salesof contact lenses increased. In Medical-Related Products, sales of medical endoscopes increased, and sales ofintraocular lenses for cataracts increased significantly. Overall, sales in the Life Care Business also increasedsignificantly.In the Information Technology segment, in electronics-related products, sales of mask blanks for semiconductorsand glass substrates for hard disks increased significantly, and sales of photomasks for FPDs increased. Imaging-related products saw an increase in sales, and the Information Technology segment as a whole saw a significantincrease in sales.The following discusses results by reportable segment. (Segment sales represent sales to external customers.)2) Segment OverviewLife CareSales of eyeglass lenses and contact lenses increased by a recovery following the resumption of economic activitiescompared to the same period of the previous fiscal year.Sales of eyeglass lenses were strong, particularly overseas, and higher sales of high-value-added products alsocontributed to higher sales.Contact lenses were affected by shortened operating hours at Eye City specialty stores and a temporary decline indemand due to fewer opportunities to go out, as the quasi-state of emergency was issued in many parts of Japan.However, sales increased by steady growth in home delivery services and less impact on economic activities fromthe spread of infections than in the same period of the previous fiscal year.Sales of medical endoscopes and intraocular lenses for cataracts increased by a recovery following the resumptionof economic activities compared to the same period of the previous fiscal year.In the medical endoscopes business, there was a recovery in capitalincreased continuously.In intraocular lenses for cataracts, there was a gradual recovery in the number of cataract operations, particularlyoverseas, and our sales increased continuously.As a result, sales in the Life Care segment amounted to 106,130 million yen, an increase of 11.4%. Segment profitincreased by 32.4% to 19,534 million yen.investment in hospitals, and our salesInformation Technology Sales of mask blanks for semiconductors increased significantly due to brisk research and development in cutting-edge products, including products for EUV (Extreme Ultraviolet), and our capturing demand for the launch of mass-production.As for photomasks for FPDs, there was a recovery in demand for photomasks for R&D, resulting in an increase insales.In hard disk glass substrates, sales of 3.5-inch products, expecting to grow significantly in the future, increasedthanks to continued demand for near-line applications at end customers, which are data centers.In terms of 2.5-inch products, sales grew as demand for external HDDs continued to be seen while the replacementof HDDs (Hard Disk Drive) with SSDs (Solid State Drive) continues.For the overall segment, sales increased significantly.In lenses for cameras, the erosion by smartphones have continued for both digital compact cameras andinterchangeable lenses. But sales increased by a recovery following the resumption of economic activities comparedto the same period of the previous fiscal year.As a result, sales in the Information Technology segment grew by 13.9% to 62,338 million yen. Segment profitincreased by 13.2% to 30,547 million yen.-2-OtherThe Other businesses consist mainly of speech synthesis software business and information system servicesbusiness. Sales in the Other business decreased by 18.8% to 1,127 million yen. Segment profit increased to2,325 million yen.3) Subsequent eventsResolution on cancellation of Treasury StockOn March 24, 2022, a resolution was made by the Company’s board of directors for cancellation of certain sharesheld as treasury stock pursuant to Article 178 of the Companies Act of Japan. The shares repurchased under itsrepurchase plan approved by resolution of the Board of Directors on February 1, 2022 were cancelled on April 7,2022 as outlined below.The Company decided cancellation of treasury stock with the aim of increasing capital efficiency as well asenhancing shareholder benefit by decreasing the total number of outstanding shares.(1) Class of shares to be cancelled(2) Number of shares to be cancelled(3) Date of cancellation(Reference)(1.07% of total shares outstanding, excluding treasury stock)Common stock3,922,600 sharesApril 7, 2022Total number of issued and outstanding shares after the cancellation: 365,779,420 sharesResolution on Share RepurchaseOn May 6, 2022, a resolution was made by the Company’s board of directors for share repurchase based onArticle 39 of Articles of Incorporation pursuant to Article 459.1 of the Companies Act of Japan as outlined below.The Company decided to acquire its own shares with the aim of shareholders’ benefit, improving capital efficiencyand ensuring a flexible capital policy.(1) Class of share to be repurchasedCommon stock issued by the Company(2) Total number of shares to be repurchased5 million shares (maximum)（1.37% of total shares outstanding, excluding treasury stock）(3) Total amount to be paid for repurchase60 billion yen (maximum)May 9, 2022 through July 20, 2022Purchase on the Tokyo Stock Exchange based on discretionary investment contractPurchased stocks are planned to be cancelled with the aim of shareholders’ benefit.(4) Period of share repurchase(5) Method of repurchase(6) OthersChanges of DirectorsNominated DirectorEiichiro Ikeda (Director, Representative Executive Officer & CEO)(Current position: Representative Executive Officer & CEO)Ryo Hirooka (Director, Representative Executive Officer & CFO)(Current position: Representative Executive Officer & CFO)Takayo Hasegawa (Independent Director)President and Representative Director of SWCC SHOWA HOLDINGS CO., LTD.Mika Nishimura (Independent Director)Operational Partner of GILDE HEALTHCARE PARTNERSRetiring DirectorHiroshi Suzuki (Director)Yukako Uchinaga (Independent Director)Date to changeJune 28, 2022-3-3.Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Statement of Financial Position (HOYA Corporation and its subsidiaries) As ofDec. 31, 2021As ofMar. 31, 2022VarianceAmount(%)Amount(%)Amount(%)Amount(%)(Millions of Yen)As ofMar. 31, 2021ASSETSNON-CURRENT ASSETSProperty, plant and equipment-netGoodwillIntangible assetsInvestments in associatesLong-term financial assetsOther non-current assetsDeferred tax assetsCURRENT ASSETSInventoriesTrade and other receivablesOther short-term financial assetsIncome tax receivablesOther current assetsCash and cash equivalentsTotal current assetsTotal assets164,25337,21135,84384549,3318418,350296,67383,285128,5146,4782,53628,605416,047665,466962,139169,66539,64835,76893054,0786889,098309,87491,441134,1747,2232,52628,197419,404682,965992,8395,4112,437-75854,746-152 74813,2018,1565,660745-10-4093,35817,49930,700164,95735,68837,11066152,0057977,488298,70577,367117,2513,8971,21819,956334,897554,584853,29069.2100.068.8100.02.63.265.0100.0Total non-current assets30.831.24.435.0-4-As ofDec. 31, 2021As ofMar. 31, 2022VarianceAmount(%)Amount(%)Amount(%)Amount(%)(Millions of Yen)As ofMar. 31, 2021EQUITY AND LIABILITIESEQUITYShare capitalCapital reservesTreasury sharesOther capital reservesRetained earningsAccumulated other comprehensiveincome/(loss)Equity attributable to owners of theCompanyNon-controlling interestsTotal equityLIABILITIESNON-CURRENT LIABILITIESInterest-bearing long-term debtOther long-term financial liabilitiesRetirement benefits liabilitiesProvisionsOther non-current liabilitiesDeferred tax liabilitiesTotal non-current liabilitiesCURRENT LIABILITIESInterest-bearing short-term debtTrade and other payablesOther short-term financial liabilitiesIncome tax payablesProvisionsOther current liabilitiesTotal current liabilitiesTotal liabilitiesTotal equity and liabilitiesTotal number of issued shares in thousandEquity attributable to owner of theCompany per share6,26415,899-9,114-10,983763,09022,10413,81822,5433,4342,6601,8829,80354,1407,33858,5271,12713,4551,39954,155136,002190,142962,139787,26181.8803,85181.016,5902.1688,00080.6-15,264771,997-14,795789,05680.279.546817,058-15,589672,4122.278.86,26415,899-68,310-11,570802,81558,75313,76323,8633,7662,6712,26210,07956,4047,83761,98464723,1261,47452,312147,380203,783992,839－－-59,197-58739,72536,649-561,321332113802762,2644993,457-4819,67075-1,84311,37813,64130,7006,26415,899-43,560-10,354710,2749,47713,23421,8743,2482,5871,4556,87049,2687,51557,3542,59817,0411,16145,942131,610180,878853,2905.65.74.25.814.119.8100.014.820.5100.08.47.23.215.421.2100.0368,972365,108-3,864369,3062,133.66 Yen2,201.68 Yen68.02 Yen1,862.96 Yen-5-(2)Quarterly Consolidated Statement of Cash Flows (HOYA Corporation and its subsidiaries) For the three monthsendedVarianceMar. 31, 2021 Mar. 31, 2022(Millions of Yen)For the threemonths endedDec. 31,2021Cash flows from operating activitiesProfit before taxDepreciation and amortizationImpairment lossesFinance incomeFinance costsShare of (profits)/loss of associates(Gain)/loss on sales of property, plant and equipmentLoss on disposal of property, plant and equipmentGain on business transferForeign exchange (gain)/lossOthersNet cash generated from operating activities （Before adjustment of movements in working capital)Movements in working capitalDecrease/(increase) in inventoriesDecrease/(increase) in trade and other receivablesIncrease/(decrease) in trade and other payablesIncrease/(decrease) in retirement benefits liabilities and provisionsSub totalInterests receivedDividends receivedInterests paidIncome taxes paidIncome taxes refundedNet cash generated from operating activitiesCash flows from investing activitiesPayments for time depositProceeds from sales of property, plant and equipmentPayments for acquisition of property, plant and equipmentProceeds from sales of investmentPayments for acquisition of investmentProceeds from sales of subsidiaryPayments for purchase of subsidiaryProceeds from business transferPayments for business transferOther proceedsOther paymentsNet cash used in investing activitiesCash flows from financing activitiesDividends paid to owners of the CompanyDividends paid to non-controlling interestsIncrease (decrease) in short-term debtRepayments of long-term borrowingsPayments for lease liabilitiesPayments for purchase of treasury sharesProceeds from exercise of stock optionsNet cash used in financing activitiesNet increase/(decrease) in cash and cash equivalentsCash and cash equivalents at the beginning of the termEffects of exchange rate changes on the balance of cash and cashequivalents in foreign currenciesCash and cash equivalents at the end of the term41,2969,7805,077-32056170-1,06555－-1,910-11153,4333,942-4,4423,224-11856,039193－-95-3,78112752,483－828-6,968－-50－-26－-80055-815-7,77653,77711,428904-472442-14-4657634-1,854-4,78259,074-3,1341,18666330258,09223831-40-4,46919254,044-682-6,879150－-138－43-55994-1,724-8,936 12,4811,648-4,172-152-119-85600223455-4,6705,641-7,0755,629-2,5614202,05345-3155-688651,561-6-7468915050-138264324139-908-1,160-23－-327-5-1,928-41,690455-43,5191,188318,055-16－-100 -5-2,090-59,999185-62,027-16,919416,0478－2270-162-18,310-271-18,508-18,10797,99115,65320,2774,6237,212334,897419,40484,508416,04751,92210,694174-46435714-10926231,5993,42467,660-2,878-6,9253,3108861,2552660-104-15,1161646,318－39-5,479－－2,178－－-1,54367-749-5,487-16,578-89－-7-2,113-2265-18,52322,308386,527-6-(3) Quarterly Consolidated Statement of Comprehensive Income (HOYA Corporation and its subsidiaries) All operationsRevenue:SalesFinance incomeOther incomeTotal RevenueExpenses:Changes in inventories of goods, products and work in progressRaw materials and consumables usedEmployee benefits expenseDepreciation and amortizationSubcontracting costAdvertising and promotion expenseCommission expenseImpairment lossesFinance costsShare of loss of associatesForeign exchange (gain)/lossOther expensesTotal expenseProfit before taxIncome tax expenseProfit for the term from all operationsOther comprehensive income:Items that will not be reclassified subsequently to profit or lossAssets measured at fair value through other comprehensive incomeRemeasurements of the net defined benefit liability(asset)Income tax relating to components of other comprehensive incomeTotal Items that will not be reclassified subsequently to profit or lossItems that may be reclassified subsequently to profit or loss Exchange differences on translation of foreign operationsShare of other comprehensive income of associatesIncome tax relating to components of other comprehensive incomeTotal Items that may be reclassified subsequently to profit or loss Total other comprehensive income/(loss)Total comprehensive income for the quarterTotal comprehensive income/(loss) attributable to :Profit attributable to : Owners of the CompanyNon-controlling interestsTotalTotalOwners of the CompanyNon-controlling interestsBasic earnings/(loss) per share (yen)Continuing operationsDiscontinued operationsBasic earnings per share (yen)Diluted earnings/(loss) per share (yen)Continuing operationsDiscontinued operationsDiluted earnings per share (yen)Notes:1.151,3943201,405153,1182,58521,15232,7699,7808453,0118,3535,07756170-2,76930,387111,82341,29610,47130,8257,713279-2,3575,63425,59422-925,60831,24262,06762,059862,06783.61－83.6183.50－83.502021B162,37951,79738,520For the three months endedMar. 31, 2021Amount(%)Mar. 31, 2022Amount(%)VarianceAmount(%)Amount(%)(Millions of Yen)For the threemonths endedDec. 31,2021100.0 169,5944723,778101.1 173,8440.20.9100.00.32.2102.512.0 171,27046447.5749168.913.5 172,483100.00.30.4100.7-2,7471.728,60314.036,64621.611,4286.51,0780.63,1372.010,2915.59043.44420.4-140.0-3,118-1.820.133,41873.9 120,06753,77727.313,6296.940,14720.4-1.616.921.66.70.61.86.10.50.30.0-1.819.770.831.78.023.7-35.211.816.827.54.223.2-82.2-21.2-12.610.0-1,48927,37536,28810,6941,1243,6339,598174357141,85730,9357.4 120,56151,92211,02140,90130.230.230.2-0.916.021.26.20.72.15.60.00.20.01.118.170.430.36.423.931,017-19330,825 20.5-0.120.423.20.423.723.90.023.918,2001522,37320,725-5,3327,4503,8761,6482331261,938-4,172-119-85-3493,0318,24412,4813,1589,323-4,022111,332-2,6797,99474378,1055,42614,7488,4049199,32314,31543314,74823.78－23.7823.79－23.797,2151,9801,627-9.9%-2.4%-1.3%———23.827.1-30.223.1-23.8-213- 065-14815,40326-3815,39015,24256,14340,8614040,90155,96617756,143110.75－110.75110.62－110.62Effect of Exchange Rate Change on Net Sales and Incomes (“2021A” is the actual value of this period. “2021B” is the nominal value of this periodwhich temporarily exchanged by the currency rate of the same period last year. unit : millions of Yen)SalesProfit before taxProfit for the quarterUS$EuroThai Baht2. Average rates of major foreign currenciesFor the three months ended Mar. 31, 2021Mar. 31, 2022Variance(%)YenYenYen107.15128.483.51InfluencesRealchange10,98510,5017,696(%)7.3%25.4%25.0%3,691290-1,0262,95533,588962833,71336,66876,81539,42272640,14776,37444176,815107.39－107.39107.29－107.292021A169,59453,77740,147117.79131.573.55-7-(4) Segment InformationThe reportable segments are constituent units of the Group for which separate financial information is obtainedand examined on a regular basis by the Board of Directors, the chief operation decision maker, to determinethe allocation of management resources and evaluate the business performance.In accordance with its management philosophy, the Group has categorized “life and culture” and “informationtechnology” as its business domains. To achieve sustainable growth in corporate value in these businessdomains, the Group has been making decisions on the allocation of management resources and monitoringthe operating results.As a result, the Group consists of three reportable business segments: the Life Care business, the InformationTechnology business and Other business, which are consistent with the above business domains.In the Life Care business, the Group produces and sells health care related products that are used in thehealthcare and medical sectors and medical related products, including medical equipment and medicalmaterials that are used in medical treatments. In operating this business, it is typically required to obtainthe relevant authorities in Japan and other countries, and sophisticatedapprovals and permissions oftechnologies and highly reliable quality control systems represent the critical elements for operating thisbusiness.In the Information Technology business, the Group produces and sells parts and components indispensable fordigital devices in the information and communication sector, including electronics related products that areessential for the modern digital information and communication technologies, and imaging related products thatare necessary to import pictures and video images as digital information based on optical technologies.Other business mainly includes the business that provides speech synthesis software and information systemservice.The main products and services for each “reportable segment” described above are as follows:Reportable SegmentMajor Products and ServicesHealth care related productsEyeglass lenses, Contact lenses, etc.Endoscopes, Medical accessories, Life CareMedical related productsAutomated endoscope reprocessors, Intraocular lenses,Ophthalmic medical devices, Artificial bone, Metallic implants for orthopedics, etc. Photomasks and Maskblanks for semiconductors, InformationTechnologyElectronics related productsPhotomasks for flat-panel displays (FPDs)Imaging related productsGlass disks for hard disk drives (HDDs), etc.Optical lenses, Optical glasses, Laser equipment,Light source, etc.OtherSpeech synthesis software, Design of information systems, etc.-8-For the three monthsended Mar. 31, 2022Life CareInformationTechnologyOtherTotalAdjustmentsAlloperationsFor the three monthsended Mar. 31, 2021Life CareInformationTechnologyOtherTotalAdjustments(Millions of Yen)AlloperationsRef : Difference between the results of the quarter under review and the same period the previous year is as follows:Life CareInformationTechnologyOtherTotalAdjustmentsAlloperations1. Segment revenues and resultsRevenueRevenue from external customersInter-segmentTotalSegment profit before taxSegment profit before tax ratioRef: Profit from ordinary operating activities% of revenueRevenueRevenue from external customersInter-segmentTotalSegment profit before taxSegment profit before tax ratioRef: Profit from ordinary operating activities% of revenueVarianceRevenue from external customers VarianceInter-segmentSegment profit before taxTotalVarianceVarianceProfit from ordinary operating activities95,2907595,36514,74815.5%19,02419.9%106,1301106,13019,53418.4%19,79218.6%10,84011.4%-7510,7654,78632.4%7684.0%54,7165654,77226,97749.3%25,41746.4%62,338762,34530,54749.0%29,60847.5%7,62113.9%-497,5733,57013.2%4,19016.5%Life CareRevenue from external customersProfit from ordinary operating activitiesSegment profit before taxInformation TechnologyRevenue from external customersProfit from ordinary operating activitiesSegment profit before tax101,99119,47918,88859,29028,31729,238106,13019,79219,53462,33829,60830,547RevenueRevenue from external customersInter-segmentTotalSegment profit before taxSegment profit before tax ratioRef: Profit from ordinary operating activities% of revenue105,4891105,48921,46620.3%23,21722.0%64,2811664,29731,26048.6%31,13248.4%1,3883481,73624514.1%25114.5%1,12751,1322,325205.4%20518.1%-261-18.8%-343-6042,080－-46－4,1393126463,0481,2911,3091,5012711,772895.0%24713.9%151,394479151,87341,97127.6%44,69329.4%169,59413169,60752,40630.9%49,60429.2%18,20012.0%-46617,73410,43624.9%4,91211.0%Realchange6,7014554,1404,5732,8992,261171,270288171,55852,81430.8%54,59731.8%－-479-479-675－-1,371－－-13-131,370－-1,459－－－4664662,045－-886.4%7.0%2.4%28.1%8.4%11.4%8.4%－-288-288-892－-1,059－151,394－151,39441,29627.3%43,32128.6%169,594－169,59453,77731.7%48,14528.4%18,20012.0%－18,20012,48130.2%4,82411.1%171,270－171,27051,92230.3%53,53731.3%Note:Effect of Exchange Rate Change on Net Sales and Incomes (“2021 A” is the actual value of this period. “2021 B” is the nominal value ofthis period which temporarily exchanged by the currency rate of the same period the previous year. unit : millions of Yen)2021B2021AInfluences(%)Ref : Results of the previous quarter are as follows:For the three monthsended Dec. 31, 2021Life CareInformationTechnologyOtherTotalAdjustmentsAlloperationsNote:Profit from ordinary operating activities is operating profit before finance income/costs, share of profits(loss) of associates, foreign exchange gain/loss and other temporary gain/loss.-9-2. Revenue from major products and servicesRevenue from external customers For the three months endedMar. 31, 2021Mar. 31, 2022Variance(Millions of Yen)For the threemonths endedDec. 31,2021Amount(%)Amount(%)Amount(%) Amount(%)Revenue from all operationsLife Care 95,29062.9106,13062.610,84011.4 105,48961.6Health care related products70,472 [74.0 ]78,185 [73.7 ]Medical related products24,818 [26.0 ]27,945 [26.3 ]Information Technology 54,71636.162,33836.8Electronics related products46,623 [85.2 ]53,919 [86.5 ]7,7133,1277,6217,29610.912.613.915.676,405 [72.4 ]29,084 [27.6 ]64,28137.553,466 [83.2 ]Imaging related products8,093 [14.8 ]8,419 [13.5 ]3254.010,814 [16.8 ]Other1,3880.91,1270.7-261 -18.81,5010.9Corporate (including R&D)Total revenue from all operations-151,394-100.0-169,594-100.0-18,200–12.0 171,270-100.0Notes 1. Figures in [ ] are percentages of each segment. Notes 2.Effect of Exchange Rate Change on Net Sales and Incomes (“2021A” is the actual value of this period. “2021B” is thenominal value of this period which temporarily exchanged by the currency rate of the same period last year. unit : millions of Yen)Life Care Health care related productsMedical related productsInformation Technology Electronics related productsImaging related products2021B2021AInfluences101,99175,27826,71359,29051,3707,920106,13078,18527,94562,33853,9198,4194,1392,9071,2323,0482,549499Realchange6,7014,8051,8964,5734,747-174(%)7.0%6.8%7.6%8.4%10.2%-2.1%3. Information about geographical areasRevenue from external customersFor the three months endedVarianceMar. 31, 2021Amount(%)Mar. 31, 2022(%)AmountAmount(%) Amount(%)(Millions of Yen)For the threemonths endedDec. 31,2021Revenue from all operationsTotal revenue from all operations151,394100.0169,594100.018,20012.0 171,270100.0JapanAmericasEuropeAsia/OceaniaOthers38,13823,88529,24758,3311,79225.215.819.338.51.241,51126,95833,21866,0091,89824.515.919.638.91.13,3733,0733,9707,6781068.844,19512.913.613.25.924,32633,88966,6322,22825.814.219.838.91.3Note: Geographical areas are based on the location of customers. -10-Supplementary data for 4th Quarter: from January 1 to March 31, 2022＜Reference＞The breakdown of changes in revenue and profit before taxFY20-4QFY21-4QVarianceRevenueLife CareHealth care related productsMedical related productsInformation TechnologyElectronics related productsImaging related productsProfit from ordinary operating activities Life CareInformation TechnologyOther, adjustment (Corporate)Profit before taxLife CareInformation TechnologyOther, adjustment (Corporate)151,39495,29070,47224,81854,71646,6238,09319,02425,417-1,12041,29614,74826,977-430169,594106,13078,18527,94562,33853,9198,41919,79229,608-1,25453,77719,53430,5473,69543,32148,1454,824(Millions of Yen）OthersForeignexchange7,2154,1392,9071,2323,0482,5494991,5753121,291-281,9806461,3092518,20010,8407,7133,1277,6217,2963257684,190-13412,4814,7863,5704,12510,9856,7014,8051,8964,5734,747-1743,2494552,899-10610,5014,1402,2614,100Profit before taxAdjustmentsFinance income Finance costsShare of loss of associatesForeign exchange (gain)/lossImpairment lossesOthersProfit from ordinary operatingactivitiesFY20-4Q41,296-2,026320-561-702,769-5,077594All operationsFY21-4Q53,7775,631472-442143,118-9043,373Variance12,4817,657152119853494,1722,78043,32148,1454,824Profit before taxAdjustmentsFinance income Finance costsShare of loss of associatesForeign exchange (gain)/lossImpairment lossesOthersProfit from ordinary operatingactivitiesLife CareInformation TechnologyOther, adjustment (Corporate)FY20-4Q14,748-4,27664-27112998- 4,756-322FY21-4Q19,534-25875-31840115-904735Variance4,7864,01812-4628-8843,8521,057FY20-4Q26,9771,560136-7421,078-321739FY21-4Q30,547940132-763371- 510Variance3,570-620-4-11-707321-229FY20-4Q-430690121-215- 84692- 176FY21-4Q3,6954,949265-49-282,633 -2,129Variance4,1254,259144167561,941 -1,95219,02419,79276825,41729,6084,190-1,120-1,254-134-11-Part.2May 6, 20221. Consolidated Financial Highlights HOYA CORPORATION and Consolidated Subsidiaries1. Performance for the year ended March 31, 2020 and 2021 (All operations *Notes) ( The yen amounts shown therein are rounded off to the nearest million.) (1)Revenue and Profit before tax Revenue Profit before tax Ratio of profit before tax(%)Profit for the termRatio of profit for the term(%) Profit attributable to owners of the CompanyRatio of profit attributable to owners of the Company(%)Basic earnings per share (yen)Diluted earnings per share (yen) (2)Financial Position Total assets Total equityEquity attributable to owners of the CompanyRatio of assets attributable to owners of the CompanyAssets attributable to owners of the Company per share (yen) (3) Conditions of Cash Flows Net cash generated from operating activities Net cash used in investing activitiesFree cash flowNet cash provided by (used in) financing activities Cash and cash equivalents at end of period 3.OtherCapital expenditureR&D expensesNotes:Variance(%)20.732.332.031.1 Year ended Mar. 31, 2021 Mar. 31, 2022661,466210,70631.9%165,32225.0%164,50724.9%446.45445.93547,921159,21829.1%125,22122.9%125,44622.9%335.77335.25As ofMar. 31, 2021 Mar. 31, 2022992,839 789,056 803,85181.0%2,201.68 853,290672,412688,00080.6%1,862.96Year ended Mar. 31, 2021 Mar. 31, 2022190,055-29,298160,756-106,722419,404151,812-29,790122,022-115,673334,897Year ended Mar. 31, 2021 Mar. 31, 202234,43525,37640,09323,256″All operations” means here that the figures are including not only “Continuing operations” but also “Discontinued operations”.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.-12-2.Consolidated Financial Statements(1) Consolidated Statement of Financial Position (HOYA Corporation and its subsidiaries) As ofMar. 31, 2021As ofMar. 31, 2022Amount(%)Amount(%)Amount(%)(Millions of Yen)VarianceASSETSNON-CURRENT ASSETSProperty, plant and equipment-netGoodwillIntangible assetsInvestments in associatesLong-term financial assetsOther non-current assetsDeferred tax assetsCURRENT ASSETSInventoriesTrade and other receivablesOther short-term financial assetsIncome tax receivablesOther current assetsCash and cash equivalentsTotal current assetsTotal assets164,95735,68837,11066152,0057977,488298,70577,367117,2513,8971,21819,956334,897554,584853,290169,66539,64835,76893054,0786889,098309,87491,441134,1747,2232,52628,197419,404682,965992,8394,7083,959-1,3422692,072-108 1,61011,16814,07416,9233,3261,3098,24184,508128,381139,54965.0100.068.8100.023.116.4Total non-current assets35.031.23.7-13-As ofMar. 31, 2021As ofMar. 31, 2022Amount(%)Amount(%)Amount(%)(Millions of Yen)Variance688,00080.6803,85181.0115,85116.8-15,589672,412-14,795789,056793116,64479.578.817.3EQUITY AND LIABILITIESEQUITYShare capitalCapital reservesTreasury sharesOther capital reservesRetained earningsAccumulated other comprehensiveincome/(loss)Equity attributable to owners of theCompanyNon-controlling interestsTotal equityLIABILITIESNON-CURRENT LIABILITIESInterest-bearing long-term debtOther long-term financial liabilitiesRetirement benefits liabilitiesProvisionsOther non-current liabilitiesDeferred tax liabilitiesTotal non-current liabilitiesCURRENT LIABILITIESInterest-bearing short-term debtTrade and other payablesOther short-term financial liabilitiesIncome tax payablesProvisionsOther current liabilitiesTotal current liabilitiesTotal liabilitiesTotal equity and liabilitiesTotal number of issued shares in thousandEquity attributable to owner of theCompany per share6,26415,899-43,560-10,354710,2749,47713,23421,8743,2482,5871,4556,87049,2687,51557,3542,59817,0411,16145,942131,610180,878853,290369,3066,26415,899-68,310-11,570802,81558,75313,76323,8633,7662,6712,26210,07956,4047,83761,98464723,1261,47452,312147,380203,783992,839365,108－－-24,750-1,21792,54149,2765291,989517838073,2107,1363214,630-1,9516,0853146,37015,76922,905139,549-4,1985.85.714.515.421.2100.014.820.5100.012.012.716.41,862.96 Yen2,201.68 Yen338.72 Yen-14-(2) Consolidated Statement of Cash Flows (HOYA Corporation and its subsidiaries) (Millions of Yen)For the year endedVarianceMar. 31, 2021 Mar. 31, 2022Cash flows from operating activitiesProfit before taxDepreciation and amortizationImpairment lossesFinance incomeFinance costsShare of (profits)/loss of associates(Gain)/loss on sales of property, plant and equipmentLoss on disposal of property, plant and equipmentGain on business transferForeign exchange (gain)/lossOthersNet cash generated from operating activities （Before adjustment of movements in working capital)197,463245,671Movements in working capitalDecrease/(increase) in inventoriesDecrease/(increase) in trade and other receivablesIncrease/(decrease) in trade and other payablesIncrease/(decrease) in retirement benefits liabilities and provisionsSub total210,70643,0191,078-1,7181,66445-704120-1,656-4,882-2,001-7,092-8,6965,700702236,28495542-366-47,291431190,055212-2171,469-28,872219-1952,040-1201,588-2,102277-3,597-29,29851,4886,683-7,088486-347-324562-27-1,656-4,5242,95548,208-11,1091,09212,05277151,014-33134214-12,416-27238,242-348-205-6082,373-446-322,0402151,588-1,302-2,023-760492159,21836,3368,166-2,2042,010369-1,266147－-357-4,9574,017-9,788-6,352-69185,2701,2868-580-34,875703151,812560-122,077-31,246665-163－-335－-8002,300-2,837-29,790-33,720－-27738-20-7,273－-76,675 1,304－-115,6736,349317,982-33,201-89-200 －-23-8,2170-65,764607164-106,72254,034334,897520-89-173-738-3-944 010,911-6971648,95147,68516,91510,56630,473334,897419,40419,90784,508Interests receivedDividends receivedInterests paidIncome taxes paidIncome taxes refundedNet cash generated from operating activitiesCash flows from investing activitiesWithdrawals of time depositPayments for time depositProceeds from sales of property, plant and equipmentPayments for acquisition of property, plant and equipmentProceeds from sales of investmentPayments for acquisition of investmentProceeds from sales of subsidiaryPayments for acquisition of subsidiariesProceeds from business transferPayments for business transferOther proceedsOther paymentsNet cash used in investing activitiesCash flows from financing activitiesDividends paid to owners of the CompanyDividends paid to non-controlling interestsIncrease (decrease) in short-term debtProceeds from long-term borrowingsRepayments of long-term borrowingsPayments for lease liabilitiesProceeds from disposal of treasury sharesPayments for purchase of treasury sharesProceeds from exercise of stock optionsProceeds from share issuance to non-controlling shareholdersNet cash used in financing activitiesNet increase/(decrease) in cash and cash equivalentsCash and cash equivalents at the beginning of the termEffects of exchange rate changes on the balance of cash and cashequivalents in foreign currenciesCash and cash equivalents at the end of the term-15-(3) Consolidated Statement of Comprehensive Income (HOYA Corporation and its subsidiaries) For the year endedMar. 31, 2021(%)AmountMar. 31, 2022(%)Amount(Millions of Yen)VarianceAmount(%)All operationsRevenue:SalesFinance income Other incomeTotal RevenueExpenses:Changes in inventories of goods, products and work in progressRaw materials and consumables usedEmployee benefits expenseDepreciation and amortizationSubcontracting costAdvertising and promotion expenseCommission expenseImpairment lossesFinance costsShare of loss of associatesForeign exchange (gain)/lossOther expensesTotal ExpensesProfit before taxIncome tax expenseProfit for the term from all operationsOther comprehensive income:Items that will not be reclassified subsequently to profit or lossRemeasurements of the net defined benefit liability(asset)Income tax relating to components of other comprehensive incomeTotal Items that will not be reclassified subsequently to profit or lossItems that may be reclassified subsequently to profit or loss Exchange differences on translation of foreign operationsShare of other comprehensive income of associatesIncome tax relating to components of other comprehensive incomeTotal Items that may be reclassified subsequently to profit or loss Total other comprehensive income/(loss)Total comprehensive income for the half yearTotal comprehensive income/(loss) attributable to :Profit attributable to : Owners of the CompanyNon-controlling interestsTotalTotalOwners of the CompanyNon-controlling interestsBasic earnings/(loss) per share (yen)Continuing operationsDiscontinued operationsBasic earnings per share (yen)Diluted earnings/(loss) per share (yen)Continuing operationsDiscontinued operationsDiluted earnings per share (yen)Notes:1.20.7-22.0-12.320.1－34.119.418.46.731.923.3-86.8-17.2-87.9－13.015.232.333.532.0－－－－－－－－－41.231.1－32.040.9－41.2100.00.31.1101.3113,545-486-999112,061-0.516.121.76.50.72.05.70.20.30.0-0.917.969.531.96.925.0-7,31927,07323,2466,6832753,1867,114-7,088-347-324-5,50813,58160,57351,48811,38740,102-5,303101,730-3,56425,7572866626,11022,54662,64839,0611,04040,10262,14650262,648110.68－110.68110.68－110.6822.90.022.9164,507815165,32224.90.125.0100.00.41.5101.90.714.521.96.60.71.85.61.50.40.1-0.119.172.829.16.222.9661,4661,7187,141670,325-3,422106,464143,25043,0194,35613,18637,5891,0781,66445-5,838118,228459,619210,70645,384165,3223,060290-8322,51746,850142-1146,98149,498214,821214,130691214,821446.45－446.45445.93－445.932021A661,466210,706165,322113.04131.113.45547,9212,2048,139558,2643,89879,390120,00436,3364,0829,99930,4758,1662,010369-330104,646399,046159,21833,997125,2218,363280-2,5626,08121,093-144-7820,87126,952152,173125,446-225125,221151,984188152,173335.77－335.77335.25－335.252021B633,838204,312159,961-16-Effect of exchange rate change on net sales and incomes (“2021A” is the actual value of this period. “2021B” is the nominal value of this period which temporarilyexchanged by the currency rate of the same period last year. unit : millions of Yen)SalesProfit before taxProfit for the termUS$EuroThai Baht2. Average rates of major foreign currenciesFor the year ended Mar. 31, 2021Mar. 31, 2022YenYenYen105.94124.073.42Variance(%)-6.7%-5.7%-0.9%Influences27,6286,394 5,361Realchange85,91745,09434,741(%)15.7%28.3%27.7%(4) Segment InformationThe reportable segments are constituent units of the Group for which separate financial information is obtainedand examined on a regular basis by the Board of Directors, the chief operation decision maker, to determinethe allocation of management resources and evaluate the business performance.In accordance with its management philosophy, the Group has categorized “life and culture” and “informationtechnology” as its business domains. To achieve sustainable growth in corporate value in these businessdomains, the Group has been making decisions on the allocation of management resources and monitoringthe operating results.As a result, the Group consists of three reportable business segments: the Life Care business, the InformationTechnology business and Other business, which are consistent with the above business domains.In the Life Care business, the Group produces and sells health care related products that are used in thehealthcare and medical sectors and medical related products, including medical equipment and medicalmaterials that are used in medical treatments. In operating this business, it is typically required to obtainthe relevant authorities in Japan and other countries, and sophisticatedapprovals and permissions oftechnologies and highly reliable quality control systems represent the critical elements for operating thisbusiness.In the Information Technology business, the Group produces and sells parts and components indispensable fordigital devices in the information and communication sector, including electronics related products that areessential for the modern digital information and communication technologies, and imaging related products thatare necessary to import pictures and video images as digital information based on optical technologies.Other business mainly includes the business that provides speech synthesis software and information systemservices.The main products and services for each “reportable segment” described above are as follows:Reportable SegmentMajor Products and ServicesHealth care related productsEyeglass lenses, Contact lenses, etc.Endoscopes, Medical accessories, Life CareMedical related productsAutomated endoscope reprocessors, Intraocular lenses,Ophthalmic medical devices, Artificial bone, Metallic implants for orthopedics, etc. Photomasks and Maskblanks for semiconductors, InformationTechnologyElectronics related productsPhotomasks for flat-panel displays (FPDs)Imaging related productsGlass disks for hard disk drives (HDDs), etc.Optical lenses, Optical glasses, Laser equipment,Light source, etc.OtherSpeech synthesis software, Design of information systems, etc.-17-For the yearended Mar. 31, 2021Life CareInformationTechnologyOtherTotalAdjustments(Millions of Yen)AlloperationsFor the yearended Mar. 31, 2022Life CareInformationTechnologyOtherTotalAdjustmentsAlloperations1. Segment revenues and resultsRevenueRevenue from external customersInter-segmentTotalSegment profit before taxSegment profit before tax ratioRef: Profit from ordinary operating activities% of revenueRevenueRevenue from external customersInter-segmentTotalSegment profit before taxSegment profit before tax ratioProfit from ordinary operating activities% of revenueVarianceRevenue from external customers VarianceInter-segmentSegment profit before taxTotalVarianceVarianceProfit from ordinary operating activities341,801165341,96563,54418.6%71,20220.8%407,5493407,55286,26921.2%83,39220.5%65,74819.2%- 16265,58622,72535.8%12,19017.1%200,96579201,04594,90547.2%95,85847.7%248,40382248,485122,88649.5%120,53748.5%5,1541,1626,31780612.8%84613.4%5,5148226,3362,98647.1%94114.9%47,43823.6%247,44027,98129.5%24,67925.7%3597.0%-341192,179270.3%9511.2%Ref : Difference between the results of the year under review and the same period the previous year is as follows:Life CareInformationTechnologyOtherTotalAdjustmentsAlloperations547,921－547,921159,21829.1%164,03529.9%661,466－661,466210,70631.9%200,33430.3%113,54520.7%－113,54551,48832.3%36,29922.1%547,9211,406549,327159,25629.0%167,90630.6%661,466906662,372212,14132.0%204,87030.9%113,54520.7%-500113,04552,88533.2%36,96422.0%Realchange47,83810,56020,44837,87320,64423,855－-1,406-1,406-38－-3,871－－-906-906-1,435－-4,535－－－500500-1,396－-66417.2%14.0%14.8%32.2%18.8%21.5%25.1%Note:Effect of Exchange Rate Change on Net Sales and Incomes (“2021A” is the actual value of this period. “2021 B” is the nominal value ofthis period which temporarily exchanged by the currency rate of the same period the previous year. unit : millions of Yen)2021B2021AInfluences(%)Life CareRevenue from external customersProfit from ordinary operating activitiesSegment profit before tax ratioInformation TechnologyRevenue from external customersProfit from ordinary operating activitiesSegment profit before tax ratio389,63981,76283,992238,838116,502118,760407,54983,39286,269248,403120,537122,88617,9101,6302,2779,5654,0354,126-18-2. Revenue from major products and servicesRevenue from external customers For the year endedMar. 31, 2021Mar. 31, 2022Amount(%)Amount(%)Amount(%)(Millions of Yen)VarianceRevenue from all operationsLife Care341,80162.4407,54961.6Health care related products251,626 [73.6 ]299,823 [73.6 ]Medical related products90,175 [26.4 ]107,726 [26.4 ]Information Technology200,96536.7248,40337.6Electronics related products171,887 [85.5 ]209,726 [84.4 ]Imaging related products29,078 [14.5 ]38,677 [15.6 ]Other5,1540.95,5140.865,74848,19717,55147,43837,8399,599359Corporate (including R&D)Total revenue from all operations-547,921-100.0-661,466-100.0-113,54519.219.219.523.622.033.07.0-20.7Notes 1. Figures in [ ] are percentages of each segment. Notes 2. Effect of Exchange Rate Change on Net Sales and Incomes (“2021A” is the actual value of this period.”2021B” is the nominal value of this period which temporarily exchanged by the currency rate of the same periodlast year. unit : millions of Yen)2021B2021AInfluences(%)Life CareHealth care related productsMedical related productsInformation TechnologyElectronics related productsImaging related products389,639287,422102,218238,838202,37736,462407,549299,823107,726248,403209,72638,67717,91012,4015,5099,5657,3492,2163. Information about geographical areasRevenue from external customersRealchange47,83835,79612,04237,87330,4907,38314.0%14.2%13.4%18.8%17.7%25.4%Revenue from all operationsTotal revenue from all operations547,921100.0661,466100.0113,545For the year endedMar. 31, 2021Amount(%)Mar. 31, 2022(%)AmountVarianceAmount(%)144,68080,150107,909209,5605,62326.414.619.738.21.0164,66399,907130,794258,6797,42424.915.119.839.11.119,98319,75722,88549,1191,80120.713.824.621.223.432.0JapanAmericasEuropeAsia/OceaniaOthersNote: Geographical areas are based on the location of customers. -19-Supplementary data for the Full Year : from April 1, 2021 to March 31, 2022＜Reference＞The breakdown of changes in revenue and profit before taxFY2020FY2021Variance(Millions of Yen）OthersRevenueLife CareHealth care related productsMedical related productsInformation TechnologyElectronics related productsImaging related productsProfit from ordinary operating activities Life CareInformation TechnologyOther, adjustment (Corporate)Profit before taxLife CareInformation TechnologyOther, adjustment (Corporate)547,921341,801251,62690,175200,965171,88729,07871,20295,858-3,025159,21863,54494,905768661,466407,549299,823107,726248,403209,72638,67783,392120,537-3,594210,70686,269122,8861,551164,035200,33436,299Foreignexchange27,62817,91012,4015,5099,5657,3492,2165,5971,6304,035-686,3942,2774,126-9113,54565,74848,19717,55147,43837,8399,59912,19024,679-57051,48822,72527,98178385,91747,83835,79612,04237,87330,4907,38330,70310,56020,644-50245,09420,44823,855792Profit before taxAdjustmentsFinance income Finance costsShare of loss of associatesForeign exchange (gain)/lossImpairment lossesOthersProfit from ordinary operatingactivitiesFY2020159,218-4,8182,204-2,010-369330-8,1663,193All operationsFY2021210,70610,3721,718-1,664-455,838-1,0785,602Variance51,48815,189-4863473245,5087,0882,409164,035200,33436,299Profit before taxAdjustmentsFinance income Finance costsShare of loss of associatesForeign exchange (gain)/lossImpairment lossesOthersProfit from ordinary operatingactivitiesLife CareInformation TechnologyOther, adjustment (Corporate)FY2020FY2021FY2020FY2021FY2020FY202163,544-7,658295-1,12072-379- 7,8031,27786,2692,877309-1,0651261,996-1,0782,588Variance22,72510,5351555542,3756,7251,31194,905-953633-3605-385-363-483122,8862,349539-25951,547- 518Variance27,9813,302-94101-11,9313631,0017683,7931,276-530- 4461,094- 2,4001,5515,145869-340-1762,295 -2,496Variance7831,353-4071902711,202-9771,20283,39212,19095,858120,53724,679-3,025-3,594-570-20-