Nikon’s third quarter financial results: “Revenue grew on strong sales in the Imaging Business”

[NR] admin · Feb 18, 2024

Nikon released their latest financial results for the third quarter of the year ending on March 31, 2024:

Revenue : ¥197.7B (Up ￥30.0B YoY)
Operating profit : ¥ 20.8B (Down ￥ 5.4B YoY)
Profit attributable to owners of parent: ¥ 15.1B (Down ￥ 5.5B YoY)
Revenue grew on strong sales in the Imaging Products Business, increased sales volumes of semiconductor and FPD lithography systems, and consolidation of SLM in the Digital Manufacturing Business.
Operating profit is down due to one-time costs in the Healthcare Business and increased expenses resulting from the SLM acquisition, etc.

Here are the Q3 details for the Nikon Imaging Business (click for larger view):

Both revenue and operating profit grew. Sales volumes of mirrorless cameras, mainly the Z 8 and the Z f, and interchangeable lens of mirrorless cameras increased.

Forecast for the year ending March 31, 2024, for the Imaging Business:

DCIL market expansion driven mainly by China.
Nikon’s new products (the Z 8 and the Z f) are selling well.
Nikon has advanced its shift to mirrorless cameras and interchangeable lenses for mirrorless cameras.
Revenue to rise Yoy on the weaker yen and higher ASP driven by the shift towards mid/high-end cameras.

Nikon Imaging Products Business sales units:

Source: Nikon