Nikon Posts Notice of Extraordinary Loss Due to Thailand Flooding

In addition to posting financial results, Nikon has posted another Thailand flood notice:
Extraordinary Losses Due to the Flooding in Thailand
In the Consolidated Financial Results for the Third Quarter ended December 31, 2011, Nikon Corporation ("Nikon") has recognized extraordinary losses as described in the following.
1. Extraordinary loss
The flooding happened in October, 2011 in Thailand caused water damage to Nikon (Thailand) Co., Ltd., a consolidated manufacturing subsidiary of Nikon in the Rojana Industrial Park in Ayutthaya Province located in Central Thailand. Nikon has recognized losses of ¥10,904 million on fixed assets and inventories suffered damages from the flooding as extraordinary loss.
Nikon also has recognized insurance payment of ¥500 million received under the property damage insurance policies for a part of losses relating to the inventories suffered from the flooding as extraordinary gain. Nikon will recognize insurance payments pending to be received as extraordinary gain as soon as the amounts are fixed.
2. Outlook
Nikon currently expects that the amounts of the additional losses due to the flooding such as salary paid during suspension of the operation etc. will not have a significant impact on Nikon’s consolidated financial performance for the fiscal year ending March, 2012.
Nikon also expects that the losses relating to the fixed assets and inventories will be compensated by additional insurance payment which is currently pending.
Based on the assumptions above, Nikon announces the consolidated results forecast of fiscal year ending March 31, 2012 in Consolidated Financial Results of the Third Quarter ended December 31, 2011 that has been announced today.
(Reference)Forecasts for Year ending March 31, 2012 (announced on February 3, 2012) and Results of Year ended March 31, 2011
Net SalesOperating incomeOrdinary incomeNet income
Forecasts for Year ending
March 31, 2012
925,000 Million yen72,000 Million yen80,000 Million yen55,000 Million yen
Results of Year ended
March 31, 2011
887,512 Million yen54,052 Million yen55,811 Million yen27,312 Million yen
Posted: 2/3/2012 9:55:16 AM CT   Posted By: Bryan
Posted to: Nikon News
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