• Top
• Review of Operations
• Life Care Business

Review of Operations
 – Life Care Business

The product-specific revenue growth rates for the Life Care Business in FY25 were as follows:

Revenue Growth Rates by Product (YoY %)*

FY25 revenue growth across the Life Care Business varied by product category. Within the Eye Health domain, eyeglass lenses and contact lenses delivered solid revenue growth, while intraocular lens sales remained broadly in line with the previous fiscal year, largely reflecting structural changes in the Chinese market. Within the Med-Tech domain, sales of medical endoscopes also remained broadly in line with the previous year, impacted by developments in the Chinese market. Meanwhile, Artificial Bones and Other Products achieved mid-single-digit growth, supported by solid sales of endoscope reprocessors.
*Growth rates are presented on a constant currency basis.

Eyeglass Lenses

FY25 Performance

Driven by continued growth in high-value-added products such as MiYOSMART and increased sales through retail chains, the eyeglass lens business achieved high-single-digit revenue growth and was the primary driver of growth in the Life Care Business. Although the Chinese market remained weak and certain channels in Europe and North America were soft, these factors were offset by growth in Japan, Asia and South America, enabling stable growth through geographic diversification. The impact of U.S. tariff policies was largely absorbed through measures including price pass-throughs.

Market Position

HOYA holds the second-largest market share globally. We aim to continue expanding our share through acquisitions and by winning share from the many small and medium-sized lens manufacturers that collectively account for just over 30% of the global market.

Estimated Market Share (FY25)

Medium-Term Outlook

HOYA will continue to focus on high-value-added products, particularly progressive lenses, as well as freeform lens technologies that enable individually optimized optical designs. It will also expand sales of next-generation MiYOSMART products while broadening its geographic presence. In addition, by further digitizing optical design, measurement and sales processes, HOYA aims to strengthen its value chain and achieve sustainable medium-term growth.

Contact Lenses

FY25 Performance

In Japan's contact lens retail market, demand became increasingly polarized between budget-conscious products—driven by factors such as inflation—and high-value-added products focused on eye health. At Eyecity, HOYA's specialist contact lens retail chain, customer numbers increased through new store openings. In addition, continued improvements in customer retention resulting from the growing adoption of private-label products and subscription services enabled the business to maintain a steady revenue growth trend.

Market Position

HOYA holds more than half of the specialist contact lens retail market in Japan. Leveraging its extensive product lineup and competitive pricing, it continues to gain market share from other sales channels, including ophthalmology clinics.

Estimated Market Share (FY25)

Medium-Term Outlook

HOYA aims to maximize customer lifetime value (LTV) by expanding sales of high-value-added contact lenses and further enhancing of its subscription-based business model. The Company will also leverage one of the largest customer bases and customer data assets in Japan to support stable growth. Over the longer term, HOYA will continue to develop its strategy for overseas expansion as a contact lens manufacturer.

Intraocular Lenses

FY25 Performance

Although sales in the Japanese market remained stable, the Chinese market continued to be affected by structural changes following the introduction of the volume-based procurement (VBP) program. In addition, temporary supply constraints associated with the replacement of a core enterprise system in Europe resulted in full-year sales remaining broadly in line with the previous fiscal year.

Market Position

Leveraging the competitiveness of Vivinex, which combines advanced lens materials offering exceptional optical clarity with the proprietary multiSert™ injector, HOYA has steadily expanded its share and now holds the third-largest market share globally.

Estimated Market Share (FY25)

Medium-Term Outlook

HOYA will seek to capture structural demand driven by population aging while strengthening relationships with surgeons and medical institutions to further enhance the value proposition of its products. In addition to conventional monofocal lenses, the Company will promote a portfolio shift toward ATIOLs (Advanced Technology IOLs), including multifocal and toric lenses, and accelerate sales expansion in these categories. In China, HOYA will review its product portfolio and sales structure with the aim of improving business performance and returning the business to a medium-term growth trajectory.

Medical Endoscopes

FY25 Performance

Demand remained subdued amid price competition and increased bundled sales in Europe and North America, as well as an uncertain business environment in the Chinese market. At the same time, HOYA continued to implement structural reforms, including optimizing its product and geographic portfolio and its cost structure, to improve its earnings base.

Market Position

Leveraging its strengths in advanced gastrointestinal endoscopes and products designed to facilitate cleaning and disinfection, HOYA holds the third-largest market share globally.

Estimated Market Share (FY25)

Medium-Term Outlook

HOYA will continue to sharpen the focus of its endoscope product portfolio by concentrating management resources on its core gastrointestinal endoscopy business while reviewing adjacent product categories such as surgical instruments and infection-prevention products. At the same time, the Company will optimize its cost structure through measures including the consolidation of manufacturing sites, with the aim of improving profitability. In addition, with respect to the Endoscope Business, the Board of Directors resolved on July 31, 2026, to initiate a strategic review of all alternatives, including a potential transfer of the business to a third party.

Artificial Bones and Other Products

FY25 Performance

Chromatography media remained weak due to customer inventory adjustments, while sales of artificial bones and metallic implant products developed stably. In addition, strong sales of endoscope reprocessors helped offset weakness in certain other product lines, enabling the business as a whole to remain resilient.

Market Position

HOYA is a key player in each of the regions and product segments in which it operates across artificial bones, endoscope reprocessors, laparoscopic surgical instruments, and chromatography media. Going forward, HOYA aims to further enhance its market presence through geographic expansion and other strategic initiatives.

Medium-Term Outlook

Building on its established positions in specific fields, HOYA aims to broaden its addressable markets through geographic expansion and the cross-application of its products and technologies. By expanding applications for existing products and broadening its product lineup, HOYA will seek to capture growth opportunities and further scale the business.