Nikon Q1 financial results are out and they look very good
Today Nikon released their financial results for the first quarter of the year ending March 2022 and the numbers are better than expected (click for larger view):
- Increase in revenue in all segments
- Imaging Products Business: increase ¥24.9B in revenue and ¥17.5B in profit
- Significant recovery in sales unit of digital cameras
- Strong mirrorless camera sales, revenues nearly doubled
- Nikon also revised the revenue and profit upward
Here is the relevant data for the Imaging Products Business:
- Q1 YoY: Increased revenue and operating profit
- Mirrorless and high-priced interchangeable lenses have enjoyed strong sales on recovery in demand for cameras.
- Higher ASP on further progress in shift to models for pro/hobbyists. Revenues nearly doubled, due in part to the weaker yen.
- Q1 operating profit improved significantly YoY due to subdued sales expenses and deferred partial expenses to Q2 and beyond.
Forecast for the year ending March 31, 2022 for the Imaging Products Business:
- Revenue: Surpassed by ¥19.8B YoY (Surpassed by ¥5.0B vs. previous forecast)
- Operating Profit: Surpassed by ¥48.3B YoY (Surpassed by ¥7.0B vs. previous forecast)
Other related news:
Source: Nikon
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