Nikon to revise US Dollar and Euro foreign exchange estimates

Bloomberg reports that Nikon will revise its US Dollar and Euro foreign exchange estimates:

"The yen has gained about 19 percent against the euro and 5 percent against the dollar this year. Nikon, which earned more than 80 percent of its revenue outside Japan in the 12 months ended March 31, is using currency hedging and increasing overseas procurement of parts to become less vulnerable to fluctuations in exchange rates, Kimura said. The Tokyo-based camera maker assumes a yen exchange rate of 90 yen to the dollar and 120 yen to the euro for the fiscal year to March 2011, it said May 11. The yen traded at 88.36 to the dollar and 111.82 to the euro at 12:45 p.m. Tokyo time. A stronger yen erodes the value of overseas earnings at a Japanese company when repatriated."

It remains to be seen if this will lead to any price adjustments for the US and European markets.

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