Nikon 2008 Annual Report Download - page 5

Download and view the complete annual report

Please find page 5 of the 2008 Nikon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 58

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58

Business Initiatives and Results for the
Year Ended March 2008
We would like to begin with an overview of devel-
opments in our three main internal companies. In
IC steppers and scanners, the Precision Equipment
Company began full-scale shipments of the lat-
est cutting-edge model of ArF immersion scanner
in Japan and overseas, and introduced the i-line
stepper with signifi cantly improved precision and
throughput. Unit sales of LCD steppers and scanners
were down considerably from the year ended March
2007 as panel display manufacturers scaled back
investment in reaction to the year ended March 2007.
However, with the positive response to the leading-
edge models of IC scanners the Precision Equipment
Company posted sales on par with the year ended
March 2007, and managed to hold profi t decline to
a minimum.
The Imaging Company strengthened its product
lineup with the introduction of the D3 and D300
fl agship models, and the entry-level D60 model of
digital SLR (single-lens refl ex) cameras, successfully
opening new markets. Sales of existing models were
also positive, particularly the entry-level D40 model,
allowing Nikon to capture the top market share for
unit sales of digital SLR cameras in Japan for 2007.
We also made a strong market introduction for
new models of compact digital cameras, recording
increases in sales. Camera sales exceeded market
expansion as a result, and the Imaging Company
posted record levels of sales and operating income.
The Instruments Company achieved growth
in biological microscopes and measuring instru-
ments, but sales of industrial instruments such as
semiconductor inspection equipment and industrial
microscopes were sluggish as companies restrained
capital investments. Segment sales were on par with
the year ended March 2007, but earnings declined.
The year ended March 2008 marked the 90th anni-
versary of Nikon, and was a year in which we worked
toward realizing our newly formulated management
vision, “Our Aspiration: Meeting needs. Exceed-
ing expectations.” Specifi c initiatives were the core
measures of the medium term management plan:
Thousands of
Millions of Yen U.S. Dollars
2008 2007 2006 2005 2004 2008
For the year
Net sales ¥ 955,792 ¥ 822,813 ¥ 730,944 ¥ 638,468 ¥ 506,378 $ 9,539,790
Operating income 135,169 102,007 66,587 30,545 3,675 1,349,130
Net income 75,484 54,825 28,945 24,141 2,410 753,407
Per share of common stock (Yen and U.S. dollars) :
Net income ¥ 189.00 ¥ 146.36 ¥ 78.16 ¥ 65.19 ¥ 6.52 $ 1.89
Diluted net income 181.23 131.42 69.33 57.84 6.02 1.81
Cash dividends applicable to the year 25.00 18.00 10.00 8.00 4.00 0.25
At year-end
Total assets ¥ 820,622 ¥ 748,939 ¥ 690,920 ¥ 633,426 ¥ 606,513 $ 8,190,650
Total equity 393,126 348,445 243,122 196,030 171,194 3,923,797
Notes: 1. Per share of common stock is computed based on the weighted average number of shares outstanding during the year.
2. U.S. dollar fi gures are translated for reference only at ¥100.19 to U.S. $1.00, the exchange rate at March 31, 2008.
Financial Highlights
Nikon Corporation and Consolidated Subsidiaries
Years ended March 31
Nikon Annual Report 2008 3