HOYA Q1 Operating Profit Jumps 30% as EUV Mask Blanks and Data-Centre Glass Lift Information & Communications 23%

A quarter in which every line accelerated

HOYA Corporation (TSE: 7741) published consolidated results for the three months to June 30, 2026 on July 31, 2026 under IFRS. Revenue rose 16.0% to ¥255,742 million and operating profit 30.0% to ¥82,626 million, taking the operating margin to 32.3% from 28.8%. Profit before tax rose 27.7% to ¥85,994 million and profit attributable to owners of the parent rose 26.9% to ¥65,791 million, for earnings per share of ¥196.61 against ¥151.24.

HOYA also reports profit from normal operating activities — operating profit adjusted for foreign-exchange gains and losses in the operating section, impairments and other non-recurring items — which rose 24.4% to ¥82,367 million. Read alongside the 30.0% rise in reported operating profit, the two together say the improvement is largely operational rather than a one-off. Comprehensive income rose 93.9% to ¥80,575 million.

One accounting note matters for comparison: HOYA early-adopted IFRS 18 "Presentation and Disclosure in Financial Statements" from this quarter, and the year-earlier operating profit is restated on the new basis. The company does not publish a year-on-year change rate for the restated prior-period operating profit.

Information & Communications: mask blanks, photomasks and disk substrates

Information & Communications grew revenue 22.7% to ¥100,954 million and segment profit 27.8% to ¥55,615 million — a 55.1% segment margin. Semiconductor mask blanks rose sharply as development activity for advanced EUV products lifted demand and the mix shifted toward high-end product. FPD photomasks grew as the Chinese plant ramped up. Glass substrates for hard disks rose sharply on demand for nearline storage in data centres, the same AI-adjacent build-out driving several other Japanese suppliers this season.

Life Care: eyeglass lenses lead, endoscopes lag in local currency

Life Care grew revenue 12.8% to ¥154,788 million and segment profit 23.6% to ¥29,984 million, with the company noting continued improvement in the segment's profitability. Eyeglass lenses rose sharply on strong chain-store sales and growth in high-value products such as MiYOSMART across Europe, China and South America. Contact lenses grew on new store openings, a higher mix of high-value lenses and strong sales of the hoyaONE private brand.

Within medical products the picture is more mixed. Medical endoscopes grew in yen terms on the weaker currency but declined in local-currency terms while restructuring proceeds. Intraocular lenses for cataract surgery rose sharply on premium products, and other medical lines including endoscope reprocessors grew.

Half-year guidance only, and no dividend forecast

Total assets were roughly flat at ¥1,301,827 million against ¥1,300,897 million at the March 31, 2026 year-end; equity attributable to owners of the parent eased 0.5% to ¥1,015,586 million and the ratio to 78.0% from 78.4% — still an unusually unlevered balance sheet.

HOYA guides only to the first half of FY3/2027 and leaves the full year blank: revenue of ¥521,000 million (+14.5%), operating profit of ¥165,000 million (+25.2%), profit before tax of ¥170,000 million (+22.0%) and profit attributable to owners of ¥131,000 million (+22.1%), for half-year earnings per share of ¥391.54. The dividend forecast is likewise undetermined: HOYA sets its dividend after profits are confirmed, weighing capital expenditure, R&D and acquisition needs against the share price and economic conditions, announcing the interim with second-quarter results and the year-end with the full-year results. For FY3/2026 it paid ¥125.00 interim and ¥170.00 at year-end, ¥295.00 in all.

JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.