New Nikon 2023 financial report: “revenue grew on increased sales volumes of mirrorless cameras and interchangeable lenses”
Nikon published the financial report for the full fiscal year 2023. The company as a whole had a great year and that’s what they write about the Imaging Division:
In the Imaging Products Business, revenue grew on increased sales volumes of mirrorless cameras and interchangeable lenses.
Revenue: Up ¥52.6B YoY (Up ¥4.7B vs. previous forecast)
- DCIL market expanding mainly in China.
- Nikon’s new products (Z 8 and Z f) are selling well.
- Nikon advanced its shift to mirrorless cameras and interchangeable
lenses. - Revenue substantially grew YoY as sales volumes of mirrorless cameras and interchangeable lenses grew and ASP rose. The weaker yen also helped.
- Revenue beat the previous forecast due to changes in product mix and the weaker yen.
Operating Profit: Up ¥4.3B YoY
(Up ¥2.5B vs. previous forecast)
- Operating profit grew YoY as the effects of revenue growth outweighed increased parts procurement prices and sales promotion costs.
- Operating profit beat the previous forecast because of increased revenue.
And this is their forecast:
Revenue: Up ¥20.3B YoY
- The overall DCIL market remains stable. The mid/high-end model market is expected to expand.
- We continue to focus on mid/high-end models and expect sales volume and revenue to grow.
- We acquired US cinema camera manufacturer RED in April 2024.
- We aim to expand the fast-growing professional digital cinema market.
Operating Profit: Down ¥2.5B YoY
- Operating profit to decline on cost increases including RED acquisition-related expenses and R&D
