Nikon Releases 1Q of the Year Ending March 2020 Financial Results

Nikon has released its 1Q financial results for the fiscal year ending March 2020.

Nikon 1Q of the Year Ending March 2020 Financial Results

• Financial Results (PDF:209KB)
• Financial and Business Data (PDF:125KB)
• Presentation Material (PDF:1.85MB)
• Financial Results for the First Quarter of the Year Ending March 31, 2020 (PDF:904KB)
• Reference Data (PDF:1.37MB)

From the presentation notes:

FY2020/3 Q1 Actual

• 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.

Q1 YoY Change:

• 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.