Nikon Q&A on financial results for FY2026

Nikon published a Q&A on the latest financial results for FY2026. Here is a recap:

Rising memory prices impact:

Quantities for this fiscal year are secured.
DRAM prices have risen severalfold compared to Q1 of the previous year.
Prices are expected to plateau in Q2 and beyond.
Overall operating profit (OP) impact for the fiscal year: high single-digit billions of yen.
Suppliers update pricing quarterly – risk of further increases.
Mitigation: continue cost reductions; may pass costs to selling prices if needed.
Main impact in Imaging Products business, with some effect in Healthcare.

US tariff assumptions:

Forecasts assume current rates remain: 10% general tariff (35% for imports from China).
Tariff impact on company-wide profit expected to be about the same as last year.
Last year benefited from pre-tariff inventory buildup for the US market.

Imaging Products Business Profit expansion amid current market weakness:

External environment uncertain.
Not pessimistic overall: smartphone-driven demand for image capture/edit/view is expanding in the US and Japan.
Company has a proven track record of stably generating ≈¥40B in profits.
Plan: strengthen video functionality to develop and create new markets.
Goal: achieve Medium-Term Management Plan profit targets and make Imaging Products a stable revenue source.

Nikon FY2026 financial results: profits down, targets recovery in FY2027