Nikon has released its 1Q financial results for the fiscal year ending March 2020.
Nikon 1Q of the Year Ending March 2020 Financial Results
From the presentation notes:
FY2020/3 Q1 Actual
Q1 YoY Change:
- Revenue and Operating profit dropped ¥24.0B and ¥9.7B, respectively, YoY due to sales volume reduction in entry/mid DSLR cameras and FPD lithography systems, etc.
- Q1 OP resulted in ¥9.3B, 51% down YoY, yet proceeding accordingly to the full-year forecast.
- Buy-back of 6,667,200 shares was conducted at approx. ¥10.0B from May 10 to June 20, 2019, which accounts for approx. 1.7% of the outstanding shares.
- The unit sales of the high-end full-frame camera increased mainly in Europe and US thanks to a growth in sales of ML camera. However, revenue dropped, impacted largely by the reduced sales of entry/mid DSLR cameras in Asia including China.
- In addition to the sales impact above, the initial development cost for new ML camera lenses suppressed the profit.
The operating profit for Nikon's Imaging Business fell 15% year-over-year.