Nikon published their financial results for the third quarter of the year ending in March 2016. Here are the highlights for the Imaging Business:
Financial results for the 3rd quarter of the year ending March 31, 2016 (Imaging Business)
- Both sales and operating income decreased, year on year, for the 3rd quarter and three quarters total.
- Digital SLR cameras and interchangeable lenses fell short of the planned sales volume. However, because of price hikes and SG&A expenses reduction, the operating income ratio in the 3rd quarter posted 11.5%, which exceeded the previous quarter result.
- Sales forecast is downwardly revised by 10 billion yen as a result of the revised market forecast and because of the postponement of new D500 launch. However, operating income forecast is pushed up by 3 billion yen due to the 3rd quarter result as well as the expenses reduction effort in the 4th quarter.
Few months ago Nikon was ranked as the most most shorted stock in Asia.