Nikon 2012 Annual Report Download - page 27

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NIKON CORPORATION ANNUAL REPORT 2012
and cutting costs across the business segment. As a result,
net sales in the Precision Equipment Business segment
amounted to ¥248,145 million (up 18.9% year on year), with
operating income at ¥42,724 million.
For the Imaging Products Business segment, in
interchangeable lens-type digital cameras, during the first
half of the subject fiscal year, the effects of the earthquake
led to a contraction in the Japanese market, while in the
second half production volume fell due to the flooding in
Thailand. However, growth in overseas markets and healthy
sales of the Nikon 1 model launched in October 2011 allowed
us to secure an increase in sales of more than 450,000
units. In March 2012 we launched the D4 next-generation
flagship model, and the D800 model with high definition and
image quality. In compact digital cameras, while markets
contracted in all regions except Asia, Nikon achieved record
high unit sales on the strong performance of such models as
the advanced COOLPIX P7100, and the slim body COOLPIX
S6200 and COOLPIX S3100. We expanded our market
share in all regions, achieving the top position in Europe.
In interchangeable lenses, production of NIKKOR lenses
reached a cumulative 65 million units. We also strengthened
our sales and service structure in emerging countries,
establishing the sales subsidiary Nikon Middle East FZE in
the United Arab Emirates, following the setting up of similar
subsidiaries in Thailand and Brazil. As a result, net sales
in the Imaging Products Business segment amounted to
¥587,127 million (down just 1.6% year on year), with operating
income of ¥53,972 million.
For the Instruments Business segment, with Western
countries postponing implementation of public budgets
for bioscience, Nikon launched new products including
system products for advanced research, and the ECLIPSE
Ni/Ci series of biological microscopes for the research and
clinical fields, and worked to expand sales. In the industrial
instruments market, amid curbs on capital expenditures
we took steps to increase sales of existing products such
as optical measuring systems, and concentrated on the
development and sale of non-contact 3D measuring
instruments, including x-ray systems. As a result, net sales
in the Instruments Business segment amounted to ¥56,000
million (down 2.5% year on year), with the operating loss
narrowing to ¥3,166 million. Nikon Metrology NV recorded
an impairment loss of ¥6,497 million, as the growth
rate in Western markets was below expectations, and is
implementing a program of selection and concentration
for its product line.
In terms of the component ratio of sales by business
segment during the subject fiscal year, the ratio rose for
the Precision Equipment Business segment. This sector
accounted for 27.0% of sales (compared to 23.5% the
previous fiscal year); the Imaging Products Business for
63.9% (67.3%); the Instruments Business for 6.1% (6.5%);
and Other Business for 3.0% (2.7%).
Net Sales by Industry Segment
Years ended March 31, 2011 and 2012 Thousands of
U.S. DollarsMillions of Yen, %
2011 2012 2012
Precision Equipment ¥208,614 ¥248,145 $3,019,168
Share of net sales 23.5% 27.0%
Imaging Products 596,929 587,127 7,143,537
Share of net sales 67.3 63.9
Instruments 57,451 56,000 681,349
Share of net sales 6.5 6.1
Other 24,519 27,380 333,120
Share of net sales 2.7 3.0
Total ¥887,513 ¥918,652 $11,177,174
Capital Expenditures and R&D Spending
Capital expenditures for the fiscal year ended March 31,
2012 amounted to ¥55,915 million, 1.9 times greater than
for the previous fiscal year. The increase was due mainly to
aggressive investments in response to the market recovery,
and renovation of production facilities following the
flooding in Thailand. By segment, spending in the Precision
Equipment Business totaled ¥7,342 million, in the Imaging
Products Business ¥33,299 million, in the Instruments
Business ¥1,233 million, and in the Other Business ¥9,059
million. Corporate assets not allocated to any segment
2008 2010
200
150
100
50
0
2009 2011 2012
(Yen)
2008 2010
60,000
50,000
40,000
30,000
20,000
10,000
0
2009 2011 2012
(Millions of yen)
2008 2010
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
2009 2011 2012
(Millions of yen)
2008 2010
500,000 100
80
60
40
20
0
400,000
300,000
200,000
100,000
0
2009 2011 2012
(Millions of yen) (%)
Diluted Net Income
per Share
Years ended March 31
Capital Expenditures
Years ended March 31
R&D Costs
Years ended March 31
Total Equity and
Equity Ratio
March 31
■ Total Equity (Left scale)
Equity Ratio (Right scale)