The Wall Street Journal-20080129-Hoya Corp-- Strong LCD Panel Unit Helps Boost Profit 13-

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Hoya Corp.: Strong LCD Panel Unit Helps Boost Profit 13%

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Hoya Corp. said third-quarter group net profit rose 13%, partly because of improved profit at its LCD panel glassmaking affiliate. The Tokyo-based electronics and optical product firm said group net profit was 22.60 billion yen ($211.5 million) in the quarter. Hoya, closely watched because foreign investors hold a large percentage of its shares, posted a 49% surge in group sales to 147.06 billion yen. The gain was a result of including Pentax Corp. in its earnings from the just-ended quarter. Hoya's operating profit gained 1.1% to 27.53 billion yen, partly because of weak prices for photo masks for making semiconductors and stiff competition in getting bigger orders for LCD masks.