Nikon and Olympus today reported hefty quarterly profits for the October-December quarter due to robust sales of digital cameras and other imaging devices, and a weaker yen.
Nikon Corp. said Monday its group net profit jumped nearly 60 percent for the third quarter of the Japanese fiscal year ending March on brisk sales of digital cameras and imaging devices. It posted a net profit of 23.0 billion yen (US$190 million) in the October-December period, up from 14.5 billion yen the same quarter a year earlier.
Olympus meanwhile posted a better-than-expected operating profit of 35.7 billion yen for the October-December period, up 66 percent from a year earlier thanks to strong sales of endoscopes, digital cameras, and the weaker yen.
With this development, both companies accordingly raised their profit forecasts for the full year ending March 31 in the Japanese financial calendar. Nikon raised its profit forecast to 95 billion yen from an earlier target of 87 billion yen, while Olympus upped its operating profit forecast to 94 billion yen from 92.4 billion yen.