Hi folks,
Just thought I would pass along the following for information pursposes, but
also to invite a little speculation. Anyone game?
Regards,
Greg Logiodice
Nyack, NY
http://www.gplphotography.com
Japan Camera Makers Post Strong Operating Profits Last FY
07/06/1999
Dow Jones International News
TOKYO (Nikkei)--Japanese camera makers posted higher group operating profits
in their camera divisions last fiscal year due to strong sales and the weaker
yen, the Nihon Keizai Shimbun reported in its Wednesday morning edition.
The popularity of digital cameras has grown along with improvements in image
resolution, while a recent camera boom has extended to models using standard
photographic film.
Meanwhile, the weaker yen improved export profitability, as Japan's five
major camera makers - Canon Inc. (CANNY or 7751), Asahi Optical Co. (J.AHO or
7750), Minolta Co. (J.MNO or 7753), Nikon Corp. (J.NIK or 7731) and Olympus
Optical Co. (J.OLO or 7733) - have high export ratios.
Minolta posted the largest increase in operating profit in its camera
division. Though sales were flat, retailers sold a lot of inventory and the
company's high-end single-lens reflex "alpha-9" model strengthened its
product lineup.
The weak yen helped sharply improve the cost-to-sales ratio at Canon and
Asahi Optical.
Olympus enjoyed strong sales growth thanks to robust sales of its Camedia
series of digital cameras, but saw its operating profit halved because of its
heavy investment burden in digital camera development.
In the current fiscal year, Nikon expects to turn an operating profit on
digital cameras, while Olympus projects an increased profit thanks to a
lighter investment burden. The other three companies, however, predict lower
profits as the stronger yen takes a bite out of export profitability.
The camera divisions at all five companies include eyeglasses and binoculars,
but depend mainly on camera sales.
(END) Dow Jones Newswires 07-07-99
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