Since its establishment in 1941 as Japans first specialty manufacturer of optical glass, Hoya has diversified into business areas that exploit the potential of advanced optics technologies. The company has continued to grow as a global enterprise through the expansion of its business activities, which encompass electro-optics, photonics, vision care, health care and crystal products. Hoya announced the next Medium Term Strategic Plan taking the first step in April 1997. With this plan, Hoya adopted an internal company system, in anticipation of legal approval of holding companies in Japan, in view of achieving 50 percent of annual net sales from overseas activities by fiscal 2002. Hoya considers maintenance of growth by management designed to survive and prosper in the era of mega-competition, clarification of corporate governance and respect for shareholders rights, to be the fundamental concepts behind all business decisions.