* Revises up 2010/11 forecast by 27 pct to OP profit Y86 bln
* Q1 profit more than triples to Y36.9 bln despite strong
* Camera sales a record for Apr-Jun quarter
(Recasts with earnings revision, adds details)
By Mayumi Negishi
TOKYO, Aug 10 Japan's Nikon Corp raised
its forecast above market expectations on record sales of
cameras and solid demand for LCD steppers used to make
smartphone and tablet PC screens.
Nikon, which competes with market leader Canon Inc
and Sony Corp in digital cameras, said on Monday it now
expects to earn an operating profit of 86 billion yen ($1.1
billion) in the year to March 2012, up 27 percent from its
previous forecast and beating the consensus estimate of 74
billion yen from 19 analysts polled by ThomsonReuters Starmine.
Sales and profit on digital SLRs, interchangeable lenses and
compact cameras were the highest for an April-June quarter,
despite a historically strong yen biting into profits.
Like Canon, which also lifted its forecast, Nikon said it
was helped by a quicker-than-expected recovery from supply chain
halts after Japan's March 11 earthquake.
Nikon, which also makes lithography machines, said its
April-June operating profit more than tripled to 36.9 billion
yen, up from 11.3 billion yen in the same quarter last year, and
said that the strong pace of camera sales would continue.
Nikon now expects sales of its digital SLRs to jump 26
percent in the year to March 2012 to 5.4 million units. It said
that its compact camera sales would also grow by 9 percent to
15.5 million units and sales of interchangeable lenses would
gain 20 percent to 7.6 million units.
Nikon, which also competes with chip equipment maker ASML
of the Netherlands, stuck to its annual sales target
of 60 new chip steppers and nudged up its LCD stepper target to
17 units from the 16 forecast in May.
Steppers and scanners are multi-million dollar tools used to
map out electronic circuits on silicon wafers and liquid-crystal
ASML last month said that the industry is heading for a
slowdown, but that there was no sign of uncertainty lasting
beyond six months.
($1 = 77.290 Japanese Yen)
(Reporting by Mayumi Negishi; Editing by Nathan Layne)