• Kyodo

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Nikon said Thursday it recorded a group net loss of ¥7.11 billion ($62 million) in the fiscal year that ended in March, citing restructuring costs for pulling the company into the red for the first time in seven years.

The loss represents a reversal from a net profit of ¥18.25 billion the previous year.

The optics and imaging products maker has been engaged in restructuring efforts, including personnel cuts and streamlining production bases since November, due to sluggish sales of semiconductor production equipment and digital cameras.

Nikon’s consolidated operating profit soared 60.8 percent to ¥50.98 billion, backed by strong sales of smartphone panel production devices.

But its group sales fell 8.6 percent to ¥748.89 billion, weighed down by such factors as supply shortages of parts due to earthquakes hitting Kumamoto and Oita prefectures last year, and a strong yen.

Based on international accounting standards, Nikon forecasts a group net profit of ¥34 billion for the current business year through March 2018, a consolidated operating profit of ¥45 billion and sales of ¥700 billion.

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