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Nikon Reports Double-Digit Drop In Income

Tokyo – Nikon has a double-digit drop in net income on
higher net sales in its fiscal first quarter, ended June 30.

Net sales increased 5.6 percent year on year to 259,431
million yen, while net income went down 48.6 percent year on year to 15,770
million yen and operating income decreased 36.7 percent year on year.

Nikon reported that in the imaging products business,
although the compact digital camera market shrank, the interchangeable-lens
digital camera market continued to expand.

In the imaging products business, record high unit sales
were recorded for quarterly sales of interchangeable-lens digital cameras and
interchangeable lenses, and for first-quarter sales of compact digital cameras.
Although there was a decline in operating income due mainly to the effects of the
strong yen against the euro, net sales for the quarter reached record high
levels, the company said.

Both revenue and profit in this business of interchangeable-lens
type digital cameras and compact digital cameras are expected to grow during
the fiscal year due to an increase in sales volume, although more intensifying
competition is expected.

In its forecast for the fiscal year ending March 31, 2013,
Nikon said that its original projection of 1,030,000 million yen has been
reduced to 1,020,000 million yen and its net income forecast has been reduced
to 5,000 million yen to 60,000 million yen.