Nikon Stock Hits Three Year Low, Prompts Company to Restructure
Last week, Nikon released its financial results for the last fiscal year (ending in March) and things aren’t looking good. The company missed financial forecasts yet again, closing at a three-year low that, it seems, has prompted Nikon to do some serious restructuring within the company.
Nikon sank 4 percent to 1,567 yen, its lowest close since March 2011. The company announced net income of 46.8 billion yen for last fiscal year, missing its own forecast of 50 billion yen. Nikon projected profit of 45 billion yen for the current year, while analysts estimated 48.5 billion yen.
These numbers have led to some corporate changes at Nikon, all of which were announced via press release on Friday. New Directors, Officers and Auditors have been appointed while some current Directors and Officers have had their appointments changed.
Plus, the entire company will be experiencing, “a reorganization of its corporate structure to build a foundation designed to support sustainable growth and establish a more robust corporate culture.” It will do this, “by further solidifying its core businesses of imaging and precision equipment while enhancing its instruments and medical businesses.”
On the bright side, it doesn’t look like Nikon is standing still while sales continue to suffer. On the other hand, what has the company been doing the last three years? And why hasn’t it worked? Let us know what you think in the comments down below.
Image credits: Photo illustration based on Nikon Headquarters by Peter Dutton
