Nikon financials outlook for 2009 not bad at all

In the post Nikon products in 2009 many readers expressed concerns that Nikon may slow down their imaging development and new product releases in 2009 because of the current economical crisis.

Nikon's net sales and income estimates for Q1 and Q2 of 2009 does not look so bad (source). In fact, if you see this chart, you would not know that we are in a nasty recession (maybe they have not updated it lately?):

Has anyone seen any official statement from Nikon regarding the current economy and their financial estimates for 2009? Since Nikon stock is not traded in the US, I could not find any relevant/reliable info.

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  • Ernie

    Wow.. Nikon is doing good.. I read somewhere that D3 is dominating the professional sport market.. I guess it must be true! Anyone can confirm that?

  • Play4Life
    • Yes, I went trough those but could not find any earnings estimates for next year.

  • Zoetmb

    Nikon’s fiscal year is April to March. In early November, they announced their 1st half results, which for the Imaging division only, was
    Revenue: 337,205 billion Yen
    Earnings: 41.986 billion Yen

    Original projection:
    Revenue: 290 billion Yen
    Earnings: 33 billion Yen.

    For the full 09 fiscal (ending March 09), the revised projection was:
    Revenue: 625 billion Yen
    Earnings: 62 billion Yen.
    This is an increase of 6.6% in revenue, but a decrease of 26.2% in earnings, probably attributable to currency fluctuations and decreasing margins at the low end.

    Unit sales1st half (ending September 08):
    DSLRs: 1.87 million
    Coolpix: 59.7 million
    Lenses 8.27 million

    Fiscal 09 1st half (April 08-Sept 08) Marketshare (compared to CIPA Shipments):
    DSLRs: 36.7% Fiscal 08: 40.1%
    Coolpix: 9.9% Fiscal 08: 8.7%
    Lenses: 31.8% Fiscal 08: 34.1%

    So for all of our complaints about their Coolpix line, it’s the only place they’re actually increasing market share. The decreasing market share is probably largely attributable to Sony. In Fiscal 08, Canon and Nikon had 40% each.

    Fiscal 09 (ending March 09) full year projections as of Nov 6th 2008:
    DSLRs: 3.5 million (+13.3% over fiscal 08)
    Coolpixes: 10 million (17% over fiscal 08)
    Lenses: 4.9 million (10.1% over fiscal 08)
    Assuming they make it (Nikon is very conservative projecting and always makes their numbers), the bigger question is what happens for the rest of calendar 09.

    • rhlpetrus

      You likley made a typing error on Unit sales 1st half: Coolpixes should be 5.97 million, very good number anyway.

      Nikon is doing pretty well compared to the rest of electronic consumer companies.

      • Zoetmb

        Thanks for catching this. Actually, I made more than one mistake (I was looking in the wrong column of my spreadsheet).
        Nikon’s 1st half unit sales should have read:
        Unit sales1st half (ending September 08):
        DSLRs: 1.87 million
        Coolpix: 5.91 million
        Lenses 2.63 million

        I think all other numbers/percentages are correct.

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