Today, Nikon reported its third-quarter financial results for the year ending in March 2026 – here is the recap by ZoetMB:
Imaging:
- Year to date: (3 quarters)
- Revenue: ¥229.00
- Earnings: ¥20.90
- Margin: 9.1%.
Units to date:
- DCIL: 740,000
- Lenses: 1,030,000
Nikon share compared to CIPA for the same period:
- DCIL: 13.1% (Nikon claims share is 13.4%)
- Lenses: 12.2% (Nikon claims share is 13.0%).
Full year projection:
- Revenue: ¥290.00 (same as previous projection)
- Earnings: ¥21.00 (down from 11/8/25 projection of ¥32 and 5/8/25 projection of ¥40)
- Margin: 7.2%
DCIL: 900,000 (down from previous projection of 950,000)
Lenses: 1.3 million (down from previous projection of 1.4 million).
Comment: That’s the lowest level of Imaging earnings since fiscal 2022 and the lowest margin since Nikon lost money in fiscal 2021. It’s also a bit strange that body unit projections have dropped by 50,000, lens unit projections have dropped by 100,000, but total revenue projection is the same and that profits drop almost in half from their original projection.
Here are a few screenshots from the financial reports:
The details on the Nikon Imaging Business:
Forecast for the year ending March 31, 2026 (summary):
Forecast for the Nikon Imaging Business:
Nikon Imaging Products Business sales units graph:
Recap:
In the Imaging Products Business, sales were led by NIKON’s first digital cinema camera the ZR. However, the business segment recorded year-on-year decreases in both revenue and profit, reflecting a decline in average selling prices due to changes in the product mix and higher promotion expenses amid intensifying competitive environment, as well as the effects of foreign exchange movements, tariffs, and other factors.
Regarding the business environment for the fiscal year ending March 31, 2026, in the Imaging Products Business, while the digital camera market is expected to remain solid over the medium to long term, the near-term environment reflects a downward shift in the product mix. In addition, price increases resulting from tariff effects are having an impact, and certain growing markets are showing signs of losing momentum.
Also:
- Notice Regarding Recognition of Impairment Losses
- Notice Regarding the Revision of the Consolidated Financial Forecast
Source: Nikon
