Nikon released financial results for the third quarter of 2023: significant increase in revenue and operating profit YoY

Nikon released financial results for the third quarter of the year ending March 2023 and reported a significant increase in revenue and operating profit YoY:

“Nikon Corporation NINOY reported a net profit of ¥20.6 billion for the third quarter (ended Dec 31, 2022) compared with the year-ago profit of ¥12.6 billion. For the third quarter, revenues rose 25.8% year over year to ¥167.7 billion.

The Imaging Products (41.7% of revenues) segment’s revenues rose 49.4% year over year to ¥69.9 billion in the reported quarter, owing to higher sales of Z 9 full-frame mirrorless camera and yen depreciation.

The Imaging Products segment’s operating profit was ¥19 billion compared with the operating profit of ¥6.3 billion in the year-ago quarter.

Imaging Products’ revenues are expected to rise 29.1% year over year to ¥230 billion.”

Here are the numbers for the Imaging Business:

Next is the Nikon Imaging Business forecast for the year ending March 31, 2023:

Nikon Imaging Business sales units:

“During the nine months ended December 31, 2022 (from April 1, 2022 to December 31, 2022), in the Imaging Products
Business, shipped quantities of products showed a recovery trend as the digital camera market saw an improvement in
problems with procurement of components due in part to the shortage of semiconductors.

In the Imaging Products Business, the Group focused on expanding sales of mid- to high-end products and interchangeable
lenses to professionals and hobbyists. Sales of the flagship model, Z 9 full-frame mirrorless camera remained strong. As a
result, the business segment recorded year-on-year increases in both revenue and profit partly because of higher average
unit selling prices and the positive effects of the yen depreciation.”

Nikon business segments and major products:


Source: Nikon, Zacks

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