Nikon end of year financial reports are out (fiscal 2022)

Today Nikon released their end of year financial reports (for the 2022 fiscal year ending on March 31, 2022):

Fiscal 2022 (April 1, 2021 – March 31, 2022):

  • Imaging finished the year at ¥178.2 billion revenue and ¥19 billion earnings (10.7% margin), missing revenue by 1% and earnings by 5% against the last projection from Feb 4th.
  • They shipped 700,000 bodies (down 16.67% from previous year), 1.27 million lenses (down 5.93%) and 190,000 compacts (down 26.92%).
  • That gave them an industry unit share of about 13.7% on bodies, 13.5% on lenses and 7% on compacts. (They had projected 13.9%/14.1%/7%).
  • They met their last unit projection on bodies, missed by 2.31% on lenses and missed by 5% on compacts.

Fiscal 2023 forecast (April 1, 2022 – March 31, 2023):

  • Imaging is projecting ¥210 billion revenue (+17.85% compared to fiscal 2022) and ¥22 billion earnings (+15.79%) resulting in a 10.5% gross margin (down 0.2%).
  • They’re projecting the same 700,000 bodies, 1.25 million lenses (down 20,000) and 100,000 compacts (down 90,000).
  • Nikon is claiming fiscal 2023 industry scale of 5.1 million bodies, 9.4 million lenses and 2.2 million compacts, giving them a projected market unit share of 13.7% on bodies, 13.3% on lenses and 4.5% on compacts.

Here are the details:

  • Revenue: ¥539.6B (YoY: up ¥88.4B, down ¥10.4B vs. previous forecast)
  • Operating profit: ¥49.9B (YoY: up ¥106.1B, up ¥2.9 vs. previous forecast)

Results for the Imaging Products Business:

  • Revenue up ¥28.0B YoY, down ¥1.8B vs. previous forecast
  • Operating profit: up ¥55.3B YoY, down ¥1.0B vs. previous forecast

Forecast for next year for Imaging Products Business:

Recap for Nikon Imaging Products Business:

“The Group sought to expand sales of mid- to high-end products to professionals and hobbyists by enhancing the lineup of
interchangeable lenses for mirrorless cameras, alongside strong sales of the Z 9 full-frame mirrorless camera, a flagship
model released in December 2021.

As a result, in the Imaging Products Business segment, the Group recorded revenue of 178,234 million yen (up 18.7% year
on year), and operating profit of 19,069 million yen (compared to operating loss of 36,391 million yen for the previous
fiscal year), due to higher average unit selling prices from an improved product mix as well as favorable foreign exchange

Source: Nikon (thanks ZoetMB)

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