The latest financial results from Nikon, Ricoh, Fujifilm, Canon, and Tamron

Nikon second quarter financial results released - "Growth trends in the market for digital camera-interchangeable lens type are greater than expected in the previous forecast":

  • Revenue : ¥331.2B (Up ¥42.9B YoY)
  • Operating profit : ¥ 13.6B (Down ¥10.8B YoY)
  • Revenues grew on strong sales in the Imaging Products Business, increased sales volumes of ArF lithography systems, and consolidation of SLM in the Digital Manufacturing Business.
  • Operating profit down on lower sales volumes of FPD lithography systems, the effects of reduced revenue in the Components Business, and increased expenses resulting from the SLM acquisition, etc.

Ricoh released its second-quarter financial results. Here is a recap on the camera business (reported under the “Other” category):

  • “Other” sales increased by 20.5% compared to the previous Q2 to 12.3 billion yen
  • Steady performance in the camera business reported
  • Ricoh’s camera business has continued to be profitable in FY2022: “continued to perform well” in Q1 of FY2023 and in Q2 of FY2023.

Fujifilm announced its financial results for the first half of the year ending September 30, 2023 - here are the imaging highlights:

  • Strong sales of instant photo systems and digital cameras boosted revenue by 19.5% year-over-year to JPY219.2 billion and operating income by 85.5% year-over-year to JPY49.4 billion.
  • In the consumer imaging field, steady sales of the INSTAX instant photo systems drove revenue higher. The expansion of INSTAX film production was announced in September 2023, in response to increasing global demand for the INSTAX series. INSTAX Pal™, a palm-top size camera that allows users to take photos anytime and anywhere, was launched in October 2023. The camera is highly regarded in the marketplace for its features that make shooting experiences easier, and can be connected to the INSTAX Link™ smartphone printer series via Bluetooth to produce INSTAX prints out of images taken with it.
  • In the Professional Imaging business, revenue increased significantly with the launch of the X-S20 in June 2023 in addition to the X-H2, X-H2S and X-T5, which were launched in the previous fiscal year. The latest addition to the GFX Series, the flagship GFX100 II, was launched in September and offers the highest levels of continuous shooting, AF and video performance.

Canon released its Q3/2023 financial results - here are the Imaging/Cameras details:

  • The interchangeable lens camera market remains solid, with new products from each company stimulating demand. As a result, we expect the market to be 5.85 million units this year, which is slightly larger than last year.
  • In the third quarter, our sales of new products such as the EOS R6 Mark II, which was launched late last year, and the EOS R50 and EOS R100, the first entry-level models of our EOS R series, which were released in the first half of the fiscal year, increased steadily, and overall unit sales were almost at the same level as last year.
  • To meet the diverse needs of camera users and to attract new users, we have expanded our mirrorless camera lineup from full-frame to entry-level models. As for interchangeable lenses, we have already added 5 lenses this year and have increased the number of lenses to 38 so far. As a result, we are steadily increasing our share of the mirrorless market through synergy between the camera bodies and lenses.
  • As the market has recovered to a state where there is enough supply to meet demand, all competitors are gradually increasing sales investments. As a result, in the fourth quarter, which is the year-end selling season, we will increase sales volume with appropriate promotions and aim for 2.9 million units this year.

Tamron released its Q3/2023 financial results:

  • Sales: 37,633 million yen (+15.9% compared to the same period last year)
  • Operating income: 10,454 million yen (12.6% compared to the same period last year)
  • Our own brand products include the large-diameter telephoto zoom lens 35-150mm F/2-2.8 VXD (A058), which will be released in 2021 for Sony E-mount, and the large-diameter standard zoom lens 28-75mm F/2.8 VXD G2 (A063). In addition to maintaining strong sales in the center, new products such as the super telephoto zoom lens 50-400mm F/4.5-6.3 VC VXD (A067) and the large-diameter standard zoom lens 20-40mm F/2.8 VXD (A062) to be released in the second half of 2022 Product launches drove performance.
  • Furthermore, in May 2023, we will release a large-diameter ultra-wide-angle zoom lens 11-22mm F/2.8 RXD (B060) for Fujifilm X mount, and in September, we will release a large-diameter telephoto zoom lens 35-150mm F/2-2.8 VXD (B060) for Nikon Z mount. A058) and accelerated mount development led to a significant increase in sales of interchangeable lenses for mirrorless cameras, resulting in a double-digit increase in sales.
  • Additionally, the A062 and A067 simultaneously received the EISA Award 2023, an prestigious award for photo and video-related products in Europe, marking the 18th consecutive year that the A062 and A067 have received this award. OEM sales also increased as the supply of interchangeable lenses to camera manufacturers remained strong due to strong market trends.
  • As a result, sales in the photography-related business were 37,633 million yen (up 10.8% from the same period last year) and operating income was 10,454 million yen (up 18.7% from the same period last year). *From the 3rd quarter financial results for the fiscal year ending December 2023.

Panasonic also released its latest financial results, but they do not provide details on the camera business.

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