Nikon releases financial results for the first quarter of the year ending in March 2024

Nikon released the latest financial results for the first quarter of the year ending in March 2024:

Revenue : ¥158.1B (Up ￥12.5B YoY)
Operating profit : ¥ 3.2B (Down ￥12.1B YoY)
Profit attributable to owners of parent : ¥ 2.5B (Down ￥ 9.3B YoY)
Revenue up on strong sales in the Imaging Products and the Healthcare Businesses, and consolidation of SLM in the Digital Manufacturing Business.
Operating profit down on lower sales volumes of FPD lithography systems, the effect of reduced revenue in the Components Business, and increased expenses resulting from the SLM acquisition.

Q1 results for Nikon Imaging Products Business:

Q1 YoY : Increased revenue and operating profit
In addition to an increase in sales volumes of mirrorless cameras centered on the Z 8 and Z 30, ASP rose due to the shift toward mid/high-end cameras. Revenue and profit also increased with help from a weaker yen.
During the three months ended June 30, 2023 (from April 1, 2023 to June 30, 2023), in the Imaging Products Business, shipped quantities of products in the digital camera market increased due to strong sales of mid- to high-end products.
In the Imaging Products Business, the Group focused on expanding sales of mid- to high-end products and interchangeable lenses targeted at professionals and hobbyists, especially those of Z 8 full-frame mirrorless camera released in May 2023. As a result, the business segment recorded year-on-year increases in both revenue and profit because of higher average unit selling prices and the positive effects of the yen depreciation.

In the Imaging Products Business, the digital camera market for mid- to high-end products is expected to remain solid.

Source: Nikon