Nikon suffered its first operating loss in five years due to reduced sales of semiconductor lithography machines and the impact of US tariffs. The company lowered its sales forecast for lithography machines this year, and its stock price plummeted today.

Yahoo Finance Report

According to Yahoo Finance, as of 11:45 AM Taipei time on July 7th, Nikon shares fell 3.72% to 1,733 yen.

Nikon released its financial results for the first half of this fiscal year (April-September 2025) after market close on July 6th: Due to reduced sales of semiconductor lithography machines and the impact of US tariff policies, consolidated revenue declined 6.0% year-on-year to 312.915 billion yen, with a consolidated operating loss of 4.829 billion yen (compared to an operating profit of 5.8 billion yen in the same period last year). This marks the first time in five years that Nikon has experienced an operating loss. Consolidated net profit surged 80.7% to 5.356 billion yen, benefiting from a one-time gain recognized by a dissolved subsidiary.

Nikon reported that during the period from April to September, revenue from its precision machinery business (including semiconductors and FPD lithography machines) decreased by 14.3% year-on-year to 69.886 billion yen, while operating profit surged by 222.6% to 3.044 billion yen due to the benefits of structural reforms. Revenue from its imaging business (camera business, including digital cameras and interchangeable lenses) decreased by 4.4% to 145.037 billion yen, while operating profit plummeted by 47.5% to 15.143 billion yen.

Product sales volume of Nikon

In terms of product sales volume, Nikon's global sales of SLR cameras increased by 17% year-on-year to 480,000 units during the April-September period, while sales of interchangeable lens cameras increased by 3% to 670,000 units.

During the April-September period, Nikon's sales of semiconductor lithography machines were 9 units, lower than the 10 units sold in the same period last year, and sales of FPD lithography machines were 15 units, lower than the 16 units sold in the same period last year.

Nikon has maintained its global sales target for SLR cameras for this fiscal year (April 2025 - March 2026) at 950,000 units, representing a 12% year-on-year increase, and its target for interchangeable lens cameras remains unchanged at 1.4 million units, representing a 7% year-on-year increase.

Nikon has lowered its sales target for semiconductor lithography machines for this fiscal year from 34 units to 29 units (compared to 28 units in the previous year), and its target for FPD lithography machines from 35 units to 33 units (compared to 38 units in the previous year).

On October 31, Nikon announced that due to weaker-than-expected sales in its precision machinery business, it has revised its consolidated revenue target for this fiscal year down from ¥700 billion (as previously estimated in August) to ¥680 billion (a 4.9% year-on-year decrease), its consolidated operating profit target down from ¥21 billion to ¥14 billion (a 478.1% surge), and its consolidated net profit target down from ¥27 billion to ¥20 billion (a 226.6% surge).

Canon, another Japanese lithography machine manufacturer, lowered its profit forecast for this fiscal year (January-December 2025) on October 27. Canon also lowered its semiconductor lithography machine sales target for this fiscal year from 255 units to 241 units, a 3% increase from the previous year (233 units).

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