Nikon released fiscal results for the first half of the year (which started in April 2020 and will end in March 2021). The half-yearly period concerned is the one that goes from April to September of this year and therefore allows you to have a precise idea of ​​how much the pandemic has affected the Japanese producer up to this moment. .

Nikon and fiscal results half-yearly

As explained in the public documents presented by the company to shareholders, the global pandemic has had a decisive impact on results. This is well understood thanks to the comparison with the same period of 2019. For example 240 thousand cameras with interchangeable lenses , 390 thousand objectives and 70 compact thousand in the second quarter. Compared to the same period last year there was a decrease of – 31 %, -29% is -73% respectively. Even looking at the entire semester there was still a contraction of – 52, 5 %, -53% is -76%.

Nikon writes as “looking at the conditions per segment, in the Imaging Products Business, the market remained slow due to the spread of COVID – , in addition to the downward trend in the digital camera market “.

The company underlines how it has made an effort to expand its offering of mid-range products thanks to the launch of Nikon Z 5 and definitely focusing on professional users and hobbyists . These two segments in particular are very attractive to companies due to the high average spending by users (even with fewer pieces delivered in absolute terms). And Nikon can boast an excellent base from this point of view, even if eroded by competitors like Sony.

Market conditions have however contracted the business of this division of 45, 9% on an annual basis. In the future, a further contraction of the market is expected, which has changed strategies and forecasts at Nikon . In general, for Q2 FY 2021, the turnover was equal to 39, 3 billion yen (320 million euros) and an operating loss of 19, 3 billion yen (157, 2 million euro).

Nikon’s strategy for the future

The company has been implementing a plan to try to raise their finances. The idea is to focus on shareholders, technologies and the strength of the brand . For the second point in particular, an update of the production lines for the mirrorless cameras of Nikon would be in progress which would also lead to the disposal of those related to the DSLR world and in particular to the plants in Thailand.

Furthermore, the aim is to maintain strong liquidity so as to be able “to rebuild the business” as well as improving digitalization so as to be able to withstand conditions such as that of the pandemic which has reduced the possibilities of doing business in person. As written above, Nikon will focus even more on professionals and hobbyists and precisely these two categories would have pushed the sales of mirrorless cameras which are improved from year to year, even during the pandemic period.