Nikon forecasts £173m loss (update)

Nikon expects to make a net loss of 28 billion yen (around £173m) for the year ended 31 March 2010 as it continues to face tough trading conditions.

However, the firm posted an operating profit of 730 million yen for the three months ended 30 June 2009.

In a statement Nikon said that its Imaging Products Business has been ‘heavily affected by the strong yen and weak market conditions’.

Sales for the three months ended 30 June fell 26.4% on the same period the year before.

Though it says its Imaging Products Business ‘bottomed out’ in the previous financial year, Nikon predicts lower sales revenue this year owing to ‘sluggish personal consumption’ and its ‘transition to models at more affordable price levels’.