Board Change • Jun 30
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Outside Independent Director Tak Nakata was the last independent director to join the board, commencing their role in 2025. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Jun 17
Nikon Corporation to Report Q1, 2027 Results on Aug 06, 2026 Nikon Corporation announced that they will report Q1, 2027 results on Aug 06, 2026 New Risk • Jun 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Aankondiging • May 08
Nikon Corporation, Annual General Meeting, Jun 26, 2026 Nikon Corporation, Annual General Meeting, Jun 26, 2026. Aankondiging • Apr 08
Nikon Corporation to Report Fiscal Year 2026 Results on May 08, 2026 Nikon Corporation announced that they will report fiscal year 2026 results on May 08, 2026 Aankondiging • Jan 07
Nikon Reveals NIKKOR Z 24-105Mm F4-7.1 Zoom Lens - Pre Order and More Info At B&H Photo Nikon has unveiled their latest zoom for the Z system. The Z 24-105mm f/4-7.1 is a flexible, carry-everywhere zoom designed with convenience in mind. At just 12.4oz, this is one of the lightest zooms of its caliber in Nikon's current line-up. The new Nikon Z 24-105mm f-105mm f/4.7.1 is a lightweight, everyday zoom lens for Nikon Z-mount mirrorless cameras that covers a broad, 24-105mm focal range. Designed for photographers and hybrid shooters who value portability without sacrificing versatility, this lens is ideal for travel, street, landscapes, portraits, and general walk-around use. At the wide end (24mm), it captures expansive scenes and environmental shots, while the 105mm telephoto reach brings subjects closer with minimal lens changes -- making it a true all-purpose option. As a variable-aperture zoom, its compact design helps keep overall size and weight down, providing convenient handling for daily shooting. With a stepping motor (STM) type drive that offers smooth focus transitions. Nikon has introduced a new addition to its Z-mount lineup: the Nikkor Z 24-105mm f /4-7.1, a versatile, everyday zoom built for convenience and portability, lens can be preordered at B&H Explora. Aankondiging • Dec 16
Nikon Corporation to Report Q3, 2026 Results on Feb 05, 2026 Nikon Corporation announced that they will report Q3, 2026 results on Feb 05, 2026 Aankondiging • Oct 01
Nikon Corporation Reaffirms the Availability of Its Digital Lithography System, Dsp-100 Nikon Corporation is reaffirming the availability of its Digital Lithography System, DSP-100, with orders having commenced in July 2025. This system is specifically developed for advanced packaging applications, supporting large substrates up to 600mm square and delivering high resolution of 1.0mm (L/S2) and will be prominently featured during SEMICON West 2025. 1 micrometer (mm) is one-millionth of a meter (one-thousandth of a millimeter). 2 Abbreviation for Line and Space. Refers to the width of circuit lines and the spacing between adjacent patterns. With the widespread adoption of high-speed communication technologies such as the internet of things (IoT) andative artificial intelligence (AI), the volume of information processing is rapidly increasing, driving demand for high-performance semiconductor devices, especially in data centers. In addition, as advanced packaging technologies such as chiplets--that connect multiple chips side by side--continue to progress, circuit patterns are becoming increasingly fine, and package sizes are growing. In response to these challenges, demand for panel-level packaging (PLP) using resin or glass substrates is expected to see continued growth. Performance Overview: Resolution 1.0mm L/S; Light Source Equivalent to i-line; Overlay Accuracy +-0.3mm; Supported Substrate Size; Square substrate: up to 600x600mm; Throughput 50 panels/hour (with 510x515mm substrate); Compatible with wafers and even larger substrates. Key Benefits: Combining High Resolution and Productivity: The DSP-100 integrates Nikon's high-resolution semiconductor lithography technology with the multi-lens technology; from its flat panel display (FPD) lithography systems. It delivers high resolution (1.0mm L/S), excellent overlay accuracy (+-0.3mm), and high productivity--up to 50 panels per hour using 510x515mm substrates.4 Nikon's proprietary technology exposes multiple projection lenses in an array and precisely controls them to produce the same effect as if a single giant lens were used. This enables patterning over a wider area with a single exposure. Unlike conventional lithography systems that require photomasks with circuit patterns, the DSP-100 uses aatial light modulator (SLM) to directly project circuit patterns onto substrates without the need for a photomask. This approach eliminates the size constraints of photomasks, provides greater flexibility for large, advanced packaging applications, and streamlines the development process--reducing both cost and lead time for customers. The DSP-100 supports exposure on large square substrates up to 600x600mm. For 100mm-square large packages, productivity per substrate is nine times higher than when utilizing 300mm wafers. Additionally, the system offers high-precision correction for substrate warpage and deformation, reducing production costs with maskless technology and minimizing maintenance costs with solid state light sources, supporting greener manufacturing. Aankondiging • Sep 11
B&H Announces the Release of the Zr Cinema Camera B&H announced the release of the ZR Cinema Camera, a lightweight 6K full-frame camera that marks the first brand new hardware collaboration between Nikon and RED DIGITAL CINEMA. The ZR camera combines Nikon's precision AI-assisted autofocus and versatile Z-mount with RED's much lauded color science and cinema-ready functionality. Capable of recording up to 6K 60p in a new flavor of REDCODE RAW, as well as ProRes RAW, H.265, and a host of other formats, the Nikon ZR camera promises to bring high-level professional video functionality to a wider audience. With deeply integrated LUT support (including custom user LUTs), 7.5-stops of In-Body Image Stabilization (IBIS), and Dual Base ISOs of 640 and 5000 in REDCODE RAW, the ZR manages to pack in much more functionality than its compact 1.38 lb body may suggest. Other exciting video-focused features include shutter angle, vertical recording, Frame.io C2C integration, and the 4" touchscreen DCI-P3 flip-out monitor with 3.07mm dots and 1.07mm dots and 1000 nits of brightness. Also of note is the camera's ability to record audio in 32-bit float, a fan-less heat-dissipation system, three custom buttons on the top of the camera, and a lever control for power zoom lenses. The primary card slot is a CFExpress Type B, but there's also a microSD slot for smaller sized files, as the camera has many of the photo-centric features of the Nikon Z6 III. Aankondiging • Jun 07
Nikon Corporation to Report Q1, 2026 Results on Aug 07, 2025 Nikon Corporation announced that they will report Q1, 2026 results on Aug 07, 2025 Aankondiging • May 08
Nikon Corporation, Annual General Meeting, Jun 27, 2025 Nikon Corporation, Annual General Meeting, Jun 27, 2025. Aankondiging • Mar 11
Nikon Corporation to Report Fiscal Year 2025 Results on May 08, 2025 Nikon Corporation announced that they will report fiscal year 2025 results on May 08, 2025 Declared Dividend • Dec 30
First half dividend of JP¥30.00 announced Shareholders will receive a dividend of JP¥30.00. Ex-date: 28th March 2025 Payment date: 25th June 2025 Dividend yield will be 303%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (67% earnings payout ratio) but not covered by cash flows (245% cash payout ratio). The dividend has increased by an average of 6.5% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 99% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Dec 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Senior EVP, CTO, Deputy CFO, GM of Corporate Strategy & Director Yasuhiro Ohmura was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Dec 10
Nikon Corporation to Report Q3, 2025 Results on Feb 06, 2025 Nikon Corporation announced that they will report Q3, 2025 results on Feb 06, 2025 New Risk • Nov 09
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.6% Last year net profit margin: 5.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (245% cash payout ratio). Profit margins are more than 30% lower than last year (3.6% net profit margin). Aankondiging • Nov 01
Nikon Corporation (TSE:7731) announces an Equity Buyback for 30,000,000 shares, representing 8.65% for ¥30,000 million. Nikon Corporation (TSE:7731) announces a share repurchase program. Under the program, the company will repurchase up to 30,000,000 shares, representing 8.65% of its outstanding shares for ¥30,000 million. The purpose of the program is to strengthen shareholder returns and improve capital efficiency. The repurchased shares will be cancelled. The repurchase program will expire on March 24, 2025. As of September 30, 2024, the company had 346,649,924 shares outstanding (excluding treasury shares). Valuation Update With 7 Day Price Move • Oct 10
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €10.79, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 13x in the Consumer Durables industry in Europe. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €6.94 per share. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 53% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (3.6%). Aankondiging • Sep 10
Nikon Corporation to Report Q2, 2025 Results on Nov 07, 2024 Nikon Corporation announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥7.95 (vs JP¥7.44 in 1Q 2024) First quarter 2025 results: EPS: JP¥7.95 (up from JP¥7.44 in 1Q 2024). Revenue: JP¥163.9b (up 3.6% from 1Q 2024). Net income: JP¥2.76b (up 6.9% from 1Q 2024). Profit margin: 1.7% (up from 1.6% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 11
Final dividend of JP¥25.00 announced Shareholders will receive a dividend of JP¥25.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 261%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.6% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 53% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Senior VP, GM of Office of the President & Director Yasuhiro Ohmura was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 28
Full year 2024 earnings released: EPS: JP¥94.03 (vs JP¥125 in FY 2023) Full year 2024 results: EPS: JP¥94.03 (down from JP¥125 in FY 2023). Revenue: JP¥717.2b (up 14% from FY 2023). Net income: JP¥32.6b (down 28% from FY 2023). Profit margin: 4.5% (down from 7.2% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Europe. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 13
Nikon Corporation to Report Q1, 2025 Results on Aug 08, 2024 Nikon Corporation announced that they will report Q1, 2025 results on Aug 08, 2024 Aankondiging • May 11
Nikon Corporation, Annual General Meeting, Jun 24, 2024 Nikon Corporation, Annual General Meeting, Jun 24, 2024. Reported Earnings • May 11
Full year 2024 earnings released: EPS: JP¥94.03 (vs JP¥125 in FY 2023) Full year 2024 results: EPS: JP¥94.03 (down from JP¥125 in FY 2023). Revenue: JP¥717.2b (up 14% from FY 2023). Net income: JP¥32.6b (down 28% from FY 2023). Profit margin: 4.5% (down from 7.2% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €10.58, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 10x in the Consumer Durables industry in Germany. Total returns to shareholders of 53% over the past three years. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥25.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 57% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (4.4%). Aankondiging • Mar 07
Nikon Corporation to Report Fiscal Year 2024 Results on May 09, 2024 Nikon Corporation announced that they will report fiscal year 2024 results on May 09, 2024 New Risk • Feb 08
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 4.3% Last year net profit margin: 7.3% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (4.3% net profit margin). Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: JP¥43.79 (vs JP¥57.85 in 3Q 2023) Third quarter 2024 results: EPS: JP¥43.79 (down from JP¥57.85 in 3Q 2023). Revenue: JP¥197.6b (up 18% from 3Q 2023). Net income: JP¥15.2b (down 26% from 3Q 2023). Profit margin: 7.7% (down from 12% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 08
Nikon Corporation Revises Consolidated Earnings Guidance for the Full Year Ending March 31, 2024 Nikon Corporation revised consolidated earnings guidance for the full year ending March 31, 2024. For the year, the company revised revenue to JPY 705.0 billion from JPY 690.0 billion previous guidance, operating profit to be JPY 36.0 billion compared to previous guidance of JPY 34.0 billion and profit attributable to owners of parent to be JPY 27.0 billion compared to previous guidance of JPY 27.0 billion. Aankondiging • Dec 08
Nikon Corporation to Report Q3, 2024 Results on Feb 08, 2024 Nikon Corporation announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥20.86 (vs JP¥19.39 in 2Q 2023) Second quarter 2024 results: EPS: JP¥20.86 (up from JP¥19.39 in 2Q 2023). Revenue: JP¥173.2b (up 21% from 2Q 2023). Net income: JP¥7.23b (up 3.0% from 2Q 2023). Profit margin: 4.2% (down from 4.9% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Aankondiging • Sep 27
Nikon Announces NIKKOR Z 135mm F1.8 S Plena Lens B&H announced the Nikon NIKKOR Z 135mm f/1.8 S Plena lens, a short-telephoto prime for its mirrorless Z system. This lens is designed as the quintessential portrait lens; it emphasizes accurate rendering, smooth bokeh, and high sharpness, along with a focal length that flatters subjects and allows for an ideal amount of subject- background separation. Introduced as "a new visual experience," Nikon has just announced the NIKKOR Z 135mm F1.8 S Plena lenses for its Z system. The Nikkor Z 135mm f/1.8 lens is called "Plenaty," which translates to " full." This concept relates to the advanced optics that help to achieve high resolution, consistent and even peripheral illumination, and especially round, well-controlled bokeh void of rings or fringing--all traits that makeup an ideal lens for portraiture. And, as an S-Line lens with Meso Amorphous and ARNEO Coats, the Plena offers Nikon's most controlled point-light reproduction, color rendering, and high anti-reflective qualities. Product Highlights: Full-Frame | f/1.8; Fast, Lightweight Telephoto Prime; Multi-Focus System; Round Bokeh from Edge to Edge; ED, SR, and Aspherical Elements; ARNEO and Meso Amorphous Coatings; Dust and Water-Resistant Design. This is a lens that will feel at home in a photographer's bag, but it's also a lens that has been optimized for video creators with internal focusing that inherently suppresses focus breathing and offers smooth, silent AF performance. Also, the 11-blade diaphragm uses an electro-magnetic mechanism for stable aperture changes. Physically, the lens is an evolution of S-Line lenses: it is dust and drip resistant and features a relatively lightweight, portable form factor, considering the focal length and large maximum aperture--it weighs just about 2.2 lb, has an 82mm filter diameter, and is evenly tapered for balanced handling. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥25.00 per share at 3.1% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 01 December 2023. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.1%). Aankondiging • Sep 08
Nikon Corporation to Report Q2, 2024 Results on Nov 09, 2023 Nikon Corporation announced that they will report Q2, 2024 results on Nov 09, 2023 Buying Opportunity • Aug 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 9.4%. The fair value is estimated to be €11.65, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.6% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 10% in 2 years. Earnings is forecast to grow by 33% in the next 2 years. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to €9.46, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 11x in the Consumer Durables industry in Europe. Total returns to shareholders of 63% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €11.73 per share. Reported Earnings • Aug 09
First quarter 2024 earnings released: EPS: JP¥7.44 (vs JP¥32.39 in 1Q 2023) First quarter 2024 results: EPS: JP¥7.44 (down from JP¥32.39 in 1Q 2023). Revenue: JP¥158.1b (up 8.6% from 1Q 2023). Net income: JP¥2.58b (down 78% from 1Q 2023). Profit margin: 1.6% (down from 8.1% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 23
Nikon Announces NIKKOR Z 70-180mm f/1.8 and 180-600mm f/5.6-6.3 VR Lenses B&H share Nikon's announcement of two expansive zoom lenses for Z series cameras: the NIKKOR Z 70-180mm f/2.8 and NIKKOR 180-600mm f/5.6-6.3 VR. The 70-180mm f/2.8 lens brings the benefits of a fast, constant aperture to a compact and relatively lightweight form. The Nikon Nikkor 180-600mm f/5.6-6.3 VR lens becomes the farthest-reaching zoom for Z series cameras to date. Together they form a telephoto kit with massive coverage, from portraits to events, wildlife, sports, and more. In addition to a versatile zoom range, the Nikon NIKKOR Z 70-180mm f/2.8 lens offers better low-light performance and subject-background separation than slower zooms. A minimum focusing distance ranging from 0.68 inches (wide) to 2.79 (tele) allow you to get up close and personal to subjects. When even more reach is needed, it can be paired with a 1.4x or 2x teleconverter to provide the equivalent of 252mm and 360mm maximum focal length, respectively. Videographers will appreciate suppressed focus breathing for smooth transitions when recording. Finally, measuring less than 6 inches in length and weighing 1.75 lb, it maintains a manageable form for handheld use and everyday carry. Nikon NIKKOR Z TM 180-600mm f/5.6-6.3 VR Lens: Key Features: Full-Frame | f/5.6 to 6.3; Super-Telephoto Zoom Lens; 5.5-Stop VR Image Stabilization; Programmable Control Ring; Customizable Function Buttons; Compatible with Z Teleconverters. Whether capturing a bear from a safe distance or tracking aircraft through the clouds, the 180-600mm f/5.6-6.3 VR is a powerful telephoto zoom. With only a 70-degree twist of the lens you can transition from location to maximum zoom for quick framing of moving subjects. Built-in vibration reduction offers 5.5 stops of stabilization for capturing fast-moving subject's handheld. Nikon NIKKOR Z 70-180mm f/2.8 Lens: Key Features: Full-Frame | f/2.8; Fast Telephoto Zoom; Compatible with Z Teleconverters; Lightweight and Compact Design. A quick-release tripod foot, strap eyelet, customizable control ring, and function buttons further streamline this lens for working in the field. Like the 70-180mm, it is compatible with 1.4x and 2x teleconverters to achieve the mammoth effect of 840mm and 1200mm focal lengths. Aankondiging • Jun 09
Nikon Corporation to Report Q1, 2024 Results on Aug 08, 2023 Nikon Corporation announced that they will report Q1, 2024 results on Aug 08, 2023 Buying Opportunity • May 29
Now 20% undervalued Over the last 90 days, the stock is up 9.2%. The fair value is estimated to be €12.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has grown by 89%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings is also forecast to grow by 6.0% per annum over the same time period. Reported Earnings • May 14
Full year 2023 earnings released: EPS: JP¥125 (vs JP¥116 in FY 2022) Full year 2023 results: EPS: JP¥125 (up from JP¥116 in FY 2022). Revenue: JP¥628.1b (up 16% from FY 2022). Net income: JP¥44.9b (up 5.3% from FY 2022). Profit margin: 7.2% (down from 7.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share at 3.0% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 30 June 2023. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (4.1%). Reported Earnings • Feb 11
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: JP¥167.8b (up 26% from 3Q 2022). Net income: JP¥20.6b (up 63% from 3Q 2022). Profit margin: 12% (up from 9.5% in 3Q 2022). Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Consumer Durables industry in Germany. Aankondiging • Dec 10
Nikon Corporation to Report Q3, 2023 Results on Feb 09, 2023 Nikon Corporation announced that they will report Q3, 2023 results on Feb 09, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥19.39 (vs JP¥28.88 in 2Q 2022) Second quarter 2023 results: EPS: JP¥19.39 (down from JP¥28.88 in 2Q 2022). Revenue: JP¥142.7b (up 1.4% from 2Q 2022). Net income: JP¥7.02b (down 34% from 2Q 2022). Profit margin: 4.9% (down from 7.5% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Makoto Sumita was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 12
Second quarter 2023 earnings released: EPS: JP¥19.39 (vs JP¥28.88 in 2Q 2022) Second quarter 2023 results: EPS: JP¥19.39 (down from JP¥28.88 in 2Q 2022). Revenue: JP¥142.7b (up 1.4% from 2Q 2022). Net income: JP¥7.01b (down 34% from 2Q 2022). Profit margin: 4.9% (down from 7.5% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Consumer Durables industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 01 December 2022. Payout ratio is a comfortable 38% but the company is paying out more than the cash it is generating. Trailing yield: 2.7%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (3.9%). Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: JP¥32.39 (vs JP¥43.19 in 1Q 2022) First quarter 2023 results: EPS: JP¥32.39 (down from JP¥43.19 in 1Q 2022). Revenue: JP¥145.6b (up 10% from 1Q 2022). Net income: JP¥11.9b (down 25% from 1Q 2022). Profit margin: 8.1% (down from 12% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 11%, compared to a 3.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Reported Earnings • May 14
Full year 2022 earnings released: EPS: JP¥116 (vs JP¥93.96 loss in FY 2021) Full year 2022 results: EPS: JP¥116 (up from JP¥93.96 loss in FY 2021). Revenue: JP¥539.6b (up 20% from FY 2021). Net income: JP¥42.7b (up JP¥77.2b from FY 2021). Profit margin: 7.9% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 8.1%, compared to a 7.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Aankondiging • May 12
Nikon Corporation, Annual General Meeting, Jun 29, 2022 Nikon Corporation, Annual General Meeting, Jun 29, 2022. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent External Director Asako Yamagami was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 07
Nikon Corporation (TSE:7731) announces an Equity Buyback for 36,000,000 shares, representing 9.79% for ¥30,000 million. Nikon Corporation (TSE:7731) announces a share repurchase program. Under the program, the company will repurchase up to 36,000,000 shares, representing 9.79% of its outstanding shares for ¥30,000 million. The purpose of the program is to enhance shareholder returns, while improving capital efficiency and ensuring a flexible capital policy. The repurchased shares will be cancelled. The repurchase program will expire on March 24, 2023. As of March 31, 2022, the company had 367,850,775 shares outstanding (excluding treasury shares) and 10,485,746 shares in treasury. Aankondiging • Apr 06
Nikon Releases NIKKOR Z 800mm f6.3 VR S Lens Nikon released NIKKOR Z 800mm f/6.3 VR S lens. This super-telephoto prime is Nikon’s longest lens for its Z-mount mirrorless system and features a unique design that includes a Phase Fresnel element to dramatically cut the overall weight and size. NIKKOR Z 800mm f/6.3 VR S is a super-telephoto prime for Nikon’s Z mirrorless cameras. The distinct design is made possible by the inclusion of a Phase Fresnel element, which cuts the overall weight by 50% and the length by 16% compared to the former F-mount 800mm f/5.6 lens. With such a long focal length, this lens is ideal for birding, wildlife, and sports subjects—instances where need to get close to the action or isolate subjects from a distance. Compared to the previous Nikon 800mm f/5.6 lens, for F-mount SLR cameras, this updated Z-mount version has a revised optical design that includes a PF element to reduce the overall weight by 50% and the length by 16%, making for a super-tele prime that can feasibly be used handheld. Nikon NIKKOR Z 800mm f/6.3 VR S Lens features include: Z-Mount Lens/FX Format; Aperture Range: f/6.3 to f/32; PF Element, 50% Weight Reduction; SR and ED Elements; Nano Crystal Coat; Multi-Focus Stepping Motor AF System; Vibration Reduction Image Stabilization; Customizable Fn and Memory Set Buttons; Weather-Sealed Design, Fluorine Coating; Rotating Tripod Collar. The PF element also contributes to a marked reduction of various abnormalities and is combined with extra-low dispersion (ED) and short-wave refractive (SR) elements to virtually eliminate chromatic aberrations and color fringing for high clarity and color accuracy. A Nano Crystal Coat further improves on contrast by helping to suppress flare and ghosting for improved color accuracy in bright and backlit conditions. As a lens intended to be used on fast-shooting flagship cameras, like the Nikon Z9, this 800mm incorporates an advanced multi-focus system that uses stepping motors for quick, quiet, and responsive autofocus performance. Also, contributing to the idea of handheld use of the lens, a robust 5 stop-effective Vibration Reduction system helps curb the effects of camera shake and is compatible with Synchro VR, for 5.5 stops of image stabilization, when used on select Z cameras. In terms of build quality, the lens has a weather-sealed design with rubber gaskets to prevent the ingress of dust and moisture. Fluorine coatings are also featured on the exposed elements to repel dust and markings and make the elements easier to clean. The handling is intuitive, akin to the Z 400mm f/2.8, with a variety of dials, Fn buttons, a focus limiter switch, and a memory set button for easily adjusting settings without needing to take eye away from the viewfinder. The lens has a well-balanced design for stable panning when shooting atop a tripod or monopod using the rotating tripod mount and it is also compatible with the optional Z Teleconverters TC-1.4x and 2x to further extend the lens’s reach. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥20.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 30 June 2022. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 3.2%. Lower than top quartile of German dividend payers (3.6%). Higher than average of industry peers (2.3%). Reported Earnings • Feb 04
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: EPS: JP¥34.34 (up from JP¥22.07 in 3Q 2021). Revenue: JP¥133.3b (down 12% from 3Q 2021). Net income: JP¥12.6b (up 56% from 3Q 2021). Profit margin: 9.5% (up from 5.4% in 3Q 2021). Revenue missed analyst estimates by 3.3%. Over the next year, revenue is forecast to grow 2.7%, compared to a 7.1% growth forecast for the industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 56 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 05
Second quarter 2022 earnings released: EPS JP¥28.88 (vs JP¥48.87 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥140.8b (up 27% from 2Q 2021). Net income: JP¥10.6b (up JP¥28.5b from 2Q 2021). Profit margin: 7.5% (up from net loss in 2Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 01 December 2021. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (3.2%). In line with average of industry peers (2.2%). Aankondiging • Sep 14
Nikon Launches Sleek, Versatile NIKKOR Z 40mm f/2 Lens Nikon Corporation announced the NIKKOR Z 40mm f/2, a versatile and compact prime lens for the mirrorless Z system. This lens straddles the wide-angle and normal-length fields of view and is characterized by its adaptability for use in a variety of shooting scenarios. Nikon NIKKOR Z 40mm f/2 Lens, Z-Mount Lens/FX Format Aperture Range: f/2 to f/16, Compact, Pancake Design. Equally at home on FX- or DX-format bodies, this sleek lens is wide enough for street shooting and landscapes but selective enough for portraiture and detail shooting, too. The bright f/2 maximum aperture also means it's capable in low-light conditions and can control depth of field for isolating subjects with selective focus. Additionally, a rounded 9-blade diaphragm contributes to a desirable smooth bokeh quality.
As such a small and simple lens, there isn't too much to its physical design beyond a single programmable control ring, which can be set to adjust manual focus, aperture, or a variety of other camera settings. And, inside, there's a stepping AF motor that offers fast, smooth, and quiet autofocus performance with minimal focus breathing to suit both photo and video applications. Reported Earnings • Aug 06
First quarter 2022 earnings released: EPS JP¥43.19 (vs JP¥37.03 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥132.3b (up 104% from 1Q 2021). Net income: JP¥15.9b (up JP¥29.5b from 1Q 2021). Profit margin: 12% (up from net loss in 1Q 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 68 percentage points per year, which is a significant difference in performance. Reported Earnings • May 14
Full year 2021 earnings released: JP¥93.96 loss per share (vs JP¥19.93 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: JP¥451.2b (down 24% from FY 2020). Net loss: JP¥34.5b (down JP¥42.2b from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 58 percentage points per year, which is a significant difference in performance. Aankondiging • Apr 27
Nikon Corporation Revises Consolidated Earnings Guidance for the Fiscal Year Ended March 31, 2021 Nikon Corporation revised consolidated earnings guidance for the fiscal year ended March 31, 2021. For the year, the company expects revised revenue of JPY 451,000 million, operating loss of JPY 57,000 million, loss attributable to owners of the parent of JPY 35,000 million and basic earnings per share attributable to owners of the parent of JPY 95.33 compared to previously expected revenue of JPY 450,000 million, operating loss of JPY 65,000 million, loss attributable to owners of the parent of JPY 42,000 million and basic earnings per share attributable to owners of the parent of JPY 114.40. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥10.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 29 June 2021. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (3.3%). In line with average of industry peers (2.2%). Aankondiging • Mar 17
Nikon Corporation to Report Fiscal Year 2021 Results on May 13, 2021 Nikon Corporation announced that they will report fiscal year 2021 results on May 13, 2021 Is New 90 Day High Low • Feb 19
New 90-day high: €7.40 The company is up 35% from its price of €5.50 on 20 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.06 per share. Analyst Estimate Surprise Post Earnings • Feb 06
Revenue beats expectations Revenue exceeded analyst estimates by 9.1%. Over the next year, revenue is forecast to grow 1.9%, compared to a 7.2% growth forecast for the Consumer Durables industry in Germany. Reported Earnings • Feb 06
Third quarter 2021 earnings released: EPS JP¥22.07 (vs JP¥10.05 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥150.6b (down 1.8% from 3Q 2020). Net income: JP¥8.10b (up 109% from 3Q 2020). Profit margin: 5.4% (up from 2.5% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. Aankondiging • Jan 29
Nikon Corporation Revises Earnings Guidance for the Year Ending March 31, 2021 Nikon Corporation revised earnings guidance for the year ending March 31, 2021. For the year, the company expects revenue of JPY 450,000 million, Operating loss of JPY 65,000 million, loss attributable to owners of the Parent of JPY 42,000 million, Basic loss per Share Attributable to Owners of the Parent of JPY 114.40 compared to the previous guidance revenue of JPY 430,000 million, Operating loss of JPY 75,000 million, loss attributable to owners of the Parent of JPY 50,000 million, Basic loss per share attributable to owners of the parent of JPY 136.19. Is New 90 Day High Low • Jan 26
New 90-day high: €6.90 The company is up 34% from its price of €5.15 on 28 October 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.14 per share. 
