Nikon: suffering from the photographic industry, fortunately there are from lithography equipment

If Nikon was just a manufacturer of cameras and lenses there would be little to be happy in the offices of the Japanese brand: financial results, in fact, they speak of sales falling again, with worse than expected results in the imaging industry. A counterbalance the fall of photographic products there are the company branches dedicated to lithographic systems for semiconductor production (in particular for panels of large dimensions) and that of precision instruments, such as microscopes and measuring instruments. The medical sector is however the worst of all, posting huge losses.

The photographic industry, partly because of unfavorable exchange rates, reported results below expectations, which had already expected a minus sign in front of sales and operating profit. The former have seen a reduction of 11% over the previous year, while profit has had an even greater contraction of 19%. The lithography for semiconductor products rose 7% in terms of sales volumes, marking a + 75% to the operating profit item: it is a result below expectations with regard to sales, but higher than them of 20% for profits. They rose by 7% even as sales of precision instruments, with operating profit doubled from the previous year: in this case sales below expectations and well above revenues instead. The medical branch has seen significant, although lower than expected.

The total situation then what is? Counting the photographic industry accounts for almost 64% of turnover, the situation is certainly not rosy, even though the very positive trend of lithography and precision systems, especially in terms of profits, give a bit 'of oxygen to the company, helping to contain the impact of the contraction in turnover in the photographic market. If Nikon will continue in its differentiation and will continue on the path laid out in growth sectors, you could find a balance. A particular, cameras with interchangeable lenses have sold less than expected, while optics and compact Nikon have led to more useful than reckoned in the latest estimates.

For next year we expect sales up sharply for FPD lithography equipment (+ 43%), with net profit growth of 2.7 times the current. Solid growth forecasts for the measuring instruments and microscopes. The medical will continue to make losses, while three negative factors are going to affect sales of the photographic industry: contraction of the photographic market, unfavorable exchange rates and delay in the launch of several key products also for the effects of terromoto in Kumamoto.