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Thread started 13 Feb 2017 (Monday) 09:11
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Nikon is in Deep Doggie Stuff

 
umphotography
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Feb 13, 2017 09:11 |  #1

Nikon is reporting massive losses and restructuring will be needed...link at bottom of the page


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.

Result of Solicitation for Voluntary Retirement

For approximately 1,000 workers a special retirement benefit will be paid in addition to the normal retirement benefit. Re-employment support services will also be provided on request.

Revision of the Financial Forecast for the Fiscal Year Ending March 31, 2017

Regarding the consolidated financial forecast for the year ending March 31, 2017, despite the continuous boom in sales of FPD Lithography Systems in the Precision Equipment Business, consolidated operating income as a whole is expected to fall below the previous forecast, impacted by the sluggish and shrinking markets of digital cameras in the Imaging Products Business and industrial metrology equipments in the Instruments Business.

As announced in “Notice of Restructuring” released on November 8, 2016, Nikon Group is currently under a fundamental company-wide restructuring in order to enhance our ability to generate profits and create value. And an extraordinary loss of approximately 53 billion yen in total, including the expenses related to “Result of Solicitation for Voluntary Retirement” and “Notice of Recognition of Extraordinary Loss” released today, is expected to incur as restructuring expenses, which is 5 billion yen increase from the previous estimate of 48 billion yen in “Notice of Restructuring” released on November 8, 2016.

http://nikonrumors.com …-wide-restructuring.aspx/ (external link)


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FarmerTed1971
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Feb 13, 2017 09:30 |  #2

Wow!


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Post edited over 1 year ago by gjl711. (3 edits in all)
     
Feb 13, 2017 10:27 |  #3

Not surprising given the collapse of the P/S and SLR markets. These guys need to rethink their position in the market. They will not be able to support themselves based on the sales between 2008 and 2013. P/S sales fell from a high of 110,070,168 in 2008 to 12,582,092 in 2016 and SLR sales fell from a high of 16,200,451 in 2012 to 8,449,043 in 2016, and those are market wide numbers, not Nikon's alone. Couple that with additional players in the market since 2008 and you have fewer dollars going to more players. Never a good recipe for profitability. I would not be surprised to hear bad news from other manufacturers as well.


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ProwlingTiger
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Feb 13, 2017 12:49 |  #4

This is very startling and while not surprising, the enormity of the numbers certainly is. Less money for the industry is going to find us paying more for gear possibly.


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Feb 13, 2017 13:40 |  #5

The photographic industry is being pressed on all sides. The compact camera is besieged by smart phones. High end cameras are hurting because they've reached a technology plateau. It used to be that a 5-year old camera was indeed surpassed by technological improvements. Discounting gear heads, pixel-peepers, and 135 format "upgraders", today's new models don't offer as tantalizing a bang for the buck. Manufacturers should get used to the fact that the churn rate will never return to its high point. Years ago in the film world, the Canon or Nikon high-end SLRs lasted forever. And they were supported. Canon stopped servicing my 20D before its useful life was over. I'm waiting to hear them make the same announcement about my 40D.


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Tom ­ Reichner
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Feb 13, 2017 14:11 |  #6

.

ProwlingTiger wrote in post #18272331 (external link)
This is very startling and while not surprising, the enormity of the numbers certainly is. Less money for the industry is going to find us paying more for gear possibly.

Hmmm......so this is very startling, yet it is not surprising. I am trying to wrap my head around that.

.


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mystik610
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Post edited over 1 year ago by mystik610.
     
Feb 13, 2017 16:20 |  #7

The losses being report in that article have nothing to do with camera sales, but yes that's a huge loss that will impact the organization across the board.

They'll start squeezing their margins everywhere else to pick offset this.


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bobbyz
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Feb 15, 2017 15:42 |  #8

Not sure why Canon or Nikon not release a nice Mirrorless.


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gjl711
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Feb 15, 2017 15:52 |  #9

bobbyz wrote in post #18274739 (external link)
Not sure why Canon or Nikon not release a nice Mirrorless.

Especially since SLR sales have fallen so much and mirrorless seems to be holding rather steady at about 3.1m units yearly


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Tom ­ Reichner
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Post edited over 1 year ago by Tom Reichner.
     
Feb 15, 2017 16:05 |  #10

.

gjl711 wrote in post #18274747 (external link)
Especially since SLR sales have fallen so much and mirrorless seems to be holding rather steady at about 3.1m units yearly

Perhaps Canon and Nikon look at that 3.1m units, calculate what portion of that they would be selling if they had top-shelf Mirrorless offerings, and realize that the profits from those sales would not be enough to offset the R&D costs.

It is better to be out of the game altogether than to be in the game and lose money whilst there. Maintaining 'a presence' in a given market is no longer very important. In today's marketplace, if a company releases a product superior to that of its competitors, it can go from no presence at all to Global Sales Leader in a heartbeat.

Sony is leaving the door wide open for a competitor to do just this. Why? Because such a high percentage of Sony mirrorless customers are using Canon and Nikon lenses with their Sony cameras. As soon as Canon or Nikon releases a superior full frame mirrorless camera that is compatible with their existing DSLR lens lineup, a lot of "Canon lens/Sony body" users are going to buy the Canon body and never return to Sony again.

The way to foster long-term brand loyalty amongst the most serious photographers is to get them to buy lots and lots of your high-end lenses. Sony has failed to do this because of their reluctance to make a very deep and diverse lineup of world-class native lenses for their full frame mirrorless system. The way they have positioned their product lineup in the marketplace, it will make it very easy for their mirrorless customers to jump ship once something better comes along.
.
.


"Your" and "you're" are different words with completely different meanings - please use the correct one.
"They're", "their", and "there" are different words with completely different meanings - please use the correct one.
"Fare" and "fair" are different words with completely different meanings - please use the correct one. The proper expression is "moot point", NOT "mute point".

  
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welshwizard1971
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Feb 15, 2017 16:10 |  #11

bobbyz wrote in post #18274739 (external link)
Not sure why Canon or Nikon not release a nice Mirrorless.

It would cost them money to develop a new system in a declining market place, and rob their own sales from established high end products that have already been developed. Yes it's costing them money to not be in the mirror less game, the argument is that it may cost them even more to be in the mirrorless game. Long term they won't have a choice I don't think, but in the short term, a tough call.


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Feb 15, 2017 16:17 |  #12

Canon already has a mirror-less offering. All it needs is someone to make the decision not to cripple the camera and support it a bit better with a few more lenses.


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welshwizard1971
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Feb 15, 2017 16:22 |  #13

Yup their second mirrorless camera, and still crippled, for good reasons...


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Feb 15, 2017 16:27 |  #14

welshwizard1971 wrote in post #18274786 (external link)
Yup their second mirrorless camera, and still crippled, for good reasons...

The EOS-M or now they have something better now.


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Feb 15, 2017 17:24 |  #15

.

bobbyz wrote in post #18274793 (external link)
The EOS-M or now they have something better now.

Now, they have the M-6 which they just released yesterday:


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"Your" and "you're" are different words with completely different meanings - please use the correct one.
"They're", "their", and "there" are different words with completely different meanings - please use the correct one.
"Fare" and "fair" are different words with completely different meanings - please use the correct one. The proper expression is "moot point", NOT "mute point".

  
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