No good news @ Nikon...

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No good news @ Nikon...

Postby DiederikVP » Mon 13 Feb 2017 10:30

Third Quarter of the Year ending March 2017 [February 13, 2017]

From the Nikon website:
Notice of Recognition of Extraordinary Loss
This is to announce the recognition of extraordinary loss for the nine months ended December 31, 2016 (from April 1 to December 31, 2016), as below.
1. Recognition of Restructuring Expenses As announced in “Notice of Restructuring” released on November 8, 2016, Nikon Group is currently under a fundamental company-wide restructuring to improve its corporate value as shifting from a strategy pursuing revenue growth to one pursuing profit enhancement. In accordance with this restructuring, the Group recorded extraordinary loss of 29,790 million yen, mainly incurred from inventory write-downs/write-off in Semiconductor Lithography Business, as restructuring expenses for the nine months ended December 31, 2016. Also, restructuring expenses in Imaging Products Business and the expenses related to “Results of Solicitation for Voluntary Retirement,” which is released today, are expected to incur in the fourth quarter of this fiscal year. As a result, the total amount of restructuring expenses for the fiscal year ending March 31, 2017 will be approximately 53,000 million yen, which is 5,000 million yen increase from the previous estimate of approximately 48,000 million yen in “Notice of Restructuring” released on November 8, 2016.

2. Impact on Consolidated Financial Forecast The impact of the recognition of restructuring expenses has been reflected in the consolidated financial forecast for the fiscal year ending March 31, 2017, as announced today in “Revision of the Financial Forecast for the Fiscal Year Ending March 31, 2017”.


Cancellation of release of the DL series of premium compact cameras
From the Nikon website:
February 13, 2017
TOKYO - Nikon Corporation announced today that sales of the long-awaited DL series of premium compact camera, the DL18-50 f/1.8-2.8, DL24-85 f/1.8-2.8, and DL24-500 f/2.8-5.6, will be canceled.
A June, 2016 release was originally planned for the DL series. However, with the identification of issues with the integrated circuit for image processing, release of the three cameras was delayed indeterminately.
Since then, everyone involved has worked very hard to develop products with which our customers will be satisfied. However, it has been decided that sales of the DL series will be canceled due to concerns regarding their profitability considering the increase in development costs, and the drop in the number of expected sales due to the slow-down of the market.
We sincerely apologize to all those affected by this decision, especially those customers who waited so long for the cameras to be released, retailers and others whose business will be affected, for the inconvenience this decision may cause.
DiederikVP
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