Nikon fiscal year operation profit seen rising 39 percent: Nikkei
(Reuters) - Nikon Corp (7731.T) will likely post a 39 percent rise in group operating profit to around 75 billion yen ($904.81 million) for the year ending this month, beating the standing projection of 72 billion yen, the Nikkei reported.
The company's sales are seen rising 4 percent to come in line with the firm's forecast of about 925 billion yen, the Japanese business daily said.
Improved efficiency in Nikon's precision equipment division has been driving the company's profit growth, the Nikkei said.
The division's operating profit has been forecast to rise nearly 14-fold from last year to 37 billion yen, the daily reported.
The company's camera division's fiscal 2011 operating profit will probably touch around 52 billion yen, mostly unchanged from a year earlier, with compact cameras likely to deliver stronger results, the daily said.
The weaker yen in the January-March quarter is also likely to lift the company's profit by several hundred million yen, the Nikkei said.
Nikon's profit is set to grow in fiscal 2012 as well, with sales of SLR and mirrorless interchangeable cameras seen climbing in China and other emerging countries, the daily said.
However, the company's growth rate is expected to slow, as orders for chip and LCD making equipment could drop by more than 10 percent if electrical machinery makers keep capital spending down in response to economic uncertainty, the paper said. ($1 = 82.8900 Japanese yen)
(Reporting by Arnav Das Sharma in Bangalore; Editing by Viraj Nair)