Nikon announced financial results for the first quarter of 2016 fiscal year

Nikon Corporation announced their financial results for the first quarter of the 2016 fiscal year: sales increased by 2.4 billion yen (year on year), operating income grew by ¥1.6 billion. Here is Nikon's financial estimation for the Imaging business for the 2016 fiscal year:


For the first half year, sales and operating income forecasts are favorably corrected by ¥10 billion and ¥4 billion, respectively, but the second half forecast is not changed due to uncertainty in the economic outlook. Yearly sales and operating income are expected to reduce by 9% and 26%, respectively, from the last year.

It seems that the market took all this as a positive news, since Nikon's stock went up:

More detailed coverage from

( - Nikon Corp. (NINOF.PK, NINOY.PK), a Japanese manufacturer of image and video equipment, Thursday reported that its first-quarter net income attributable to owners of the parent declined 10.6 percent to 3.30 billion yen from last year's 3.70 billion yen. Earnings per share were 8.31 yen, lower than 9.31 yen a year ago.

Operating income, however, climbed 12.1 percent to 3.93 billion yen from last year's 3.51 billion yen. Ordinary income also climbed 49 percent from last year.

Net sales for the quarter grew 2.7 percent to 182.24 billion yen from 177.44 billion yen last year.

For the first half, attributable net income is expected to be 5 billion yen or 12.60 yen per share, sharply lower than last year, while sales are projected to grow 2.4 percent to 384 billion yen.

Looking ahead, for the year ending March 31, 2016, attributable net income is expected to be 20 billion yen or 50.42 yen per share, a growth of 8.9 percent from last year, on net sales of 870 billion yen, 1.4 percent higher than last year. Previously, the company projected net sales of 860 billion yen.

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  • Eric Calabros

    Less messy than I expected. But they really need a game changing D3300 replacement for the sake of financial numbers in 2016. too big goal for a lazy company? Ok, no game changing but at least it better be the most compact DSLR of the market, with USB3.1 type-c port. Oh.. make a E kit lens too, those innocent folks who buy that camera, will shoot video in their kids birthday parties

    • TheBronx

      I think that a D3300 replacement is the least of their requirements. The market is saturated; most of the casual shooters that wanted a DSLR have them already. It would take something revolutionary to get them to buy a new camera (or the death of their current camera).

      • Lex Cross

        Then why do I still sell so many 32/3300s

    • Lex Cross

      Joe can only shoot 30fps though

    • Maciej Szlachta

      I would like to see mirrorless camera with F mount and APS-C sensor size ;). That might change the game.

      • Eric Calabros

        If its AF is as capable of reliable 3D tracking as current consumer/prosumer DX DSLR is but without mirror, yea that might change the game. The issue for Nikon is that A6000 good AF is not good enough, it should be D7100 good

  • Proto

    It shows… price hike in lens helped increase % profitability, despite declining sales.

    One 2.8 zoom costs more than a used motor cycle : )

  • Joe probably doesn’t know what aperture is :-). What they probably want is video modes to match scene modes.

    You’re right about needing to be smallest. What’s the one advantage of having a smaller mount?

  • Peter Rothengatter Photoart

    Time for the SPD full frame digital rangefinder á la SP with own set of primes 🙂

  • ZoetMB

    If you look at previous and new estimates, revenue is 10 billion Yen higher and earnings are 4 billion Yen higher, but the units are exactly the same. That means that they expect about 2% more per unit sold, which is either due to positive currency translations, price increases or higher prices on new models that sell more in the mix.

    • Espen4u

      Or lower production cost and maybe lower overhead?

      • ZoetMB

        That would explain earnings, not revenue. Revenue can only be expanded by selling more (which they’re not because the projected units are the same) or selling at higher prices (or benefitting from higher translations).

    • Captain Megaton

      A. By selling more D750 and fewer Coolpix.

  • Espen4u

    N has upgraded their sales forecast, it seems. And the new D5 will not help much, so hopefully there are some other interesting products ahead (D400 with real DX glass, 135/1.8 FX, 400/4.5 PF)

  • nwcs

    How about a Nikon black and white camera ala Leica Monochrom? Niche product but could be really cool.

    • Neopulse

      Don’t think they ever would. They would have to create a whole new system of mirrorless lenses for it. Doubt they’ll take such a risk.

  • A. I.

    I wonder if the recent spike in grey market FX body and lens deals on eBay and elsewhere was deliberate channel stuffing to push the Q1/Q2 results higher. Weaker yen notwithstanding, the margins on D750 must be pretty healthy at $1300-$1500 retail.

    Just an observation.

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