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Nikon (7731) investor relations material
Nikon Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary7 Aug, 2025
Executive summary
Q1 revenue declined 3.5% year-over-year to ¥158.1B, mainly due to FX effects, weaker demand, and lower Healthcare sales from US grant suspensions and tariffs.
Operating profit fell to -¥1.1B, down ¥4.0B year-over-year, impacted by FX, tariffs, and product mix changes.
Profit attributable to owners of parent rose to ¥9.4B, up 243.6% year-over-year, due to a ¥9.3B deferred tax asset from dissolving a subsidiary.
Full-year forecasts were revised downward for revenue and operating profit, reflecting weaker demand, U.S. tariffs, and sales timing shifts.
Financial highlights
Q1 operating margin dropped to -0.8% from 1.8% year-over-year; gross profit margin declined to 42.5% from 45.7%.
Profit before tax decreased 82.9% year-over-year to ¥0.7B.
Free cash flow was negative at -¥9.3B; net cash from operating activities was ¥4.4B, down from ¥17.6B year-over-year.
Cash and cash equivalents increased to ¥164.7B as of June 30, 2025.
Exchange rate impacts: US$ at ¥145, EURO at ¥164; tariffs reduced Q1 operating profit by ¥1.3B.
Outlook and guidance
Full-year revenue forecast revised down to ¥700.0B (¥10.0B lower), with operating profit at ¥21.0B (¥15.0B lower), mainly due to tariffs and FX.
Full-year profit attributable to owners of parent forecast at ¥27.0B, down ¥3.0B from previous guidance.
Six-month forecast lowered for revenue and profit, but profit attributable to owners raised due to deferred tax asset recognition.
Imaging Products expected to remain solid; Precision Equipment and Components to recover in H2; Healthcare and Digital Manufacturing face ongoing challenges.
Tariff impacts expected to reduce full-year operating profit by ¥7.5B.
Explain the lower ASP in Imaging Products.
Assess customer trends in lithography.
Detail one-time costs in Healthcare Business.
What is the underlying Q1 profit without tax asset?
Update on Optos Plc compliance investigation
Detail the drivers for full-year profit forecast cut
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Next Nikon earnings date
Q2 20266 Nov, 2025
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Frequently asked questions
Nikon Corporation is a Japanese multinational corporation that specializes in optics and photographic equipment. Nikon has made significant contributions to various sectors, including consumer electronics, imaging products, and precision equipment. The company is famous for its comprehensive range of products, which encompasses still and digital SLR cameras, mirrorless cameras, binoculars, microscopes, ophthalmic lenses, measurement instruments, rifle scopes, spotting scopes, and equipment for semiconductor fabrication, such as steppers used in photolithography steps of manufacturing. Nikon holds the position of the world's second-largest manufacturer of such equipment and is the eighth-largest chip equipment maker as of 2017. To adapt to the shrinking digital camera market, Nikon has diversified into new fields like 3D printing and regenerative medicine. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.
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