Tamron released 2024 annual financial results
Tamron released its 2024 annual financial results. The company also announced a stock split and an upward revision of the Medium-Term Management Plan. Here are the details for the Tamron Photographic Business:
- Sales increased by approximately 10% due to the impact of new models launched through 2023 and 2024, as well as strong performance in the domestic, Chinese, and other Asian markets.
- Sales of OEM products increased more than 1.4 times due to strong performance from the 2nd half of the previous fiscal year.
- Operating Income on net sales improved 1.5 points YoY, and Operating Income increased significantly by approximately 1.3 times YoY.
Tamron is also planning to accelerate the development of its own-brand product to 10 new lenses per year starting in 2026:
- Before 2023: approximately 5 new lenses per year
- Initial medium-term (2024-2026) management plan: 6 to 7 new lenses per year
- New medium-term (2024-2026) management plan: 10 new lenses a year from 2026
