Nikon’s Upcoming Plans for Camera Business

Nikon has announced latest medium term management plan for their imaging product business. Here are some highlights since last year’s plans for imaging products, you can take a look at below:

Medium-Term Management Plan (FY2019 to FY2021) (Announced on May 9, 2019)
  • Interchangeable lens camera market is expected to shrink and halve in the medium- to long-term especially for D-SLR entry models, while shift to ML accelerates.
  • The Z-series’ true appeal and full potential will require time to be fully realized
    – The Z-series is already highly praised in the market, winning various major awards
    – Nikon has only just started establishing a lens lineup that will maximize the appeal of the Z-series
  • Focus on products of full-frame systems to take hold of the mid and high-end model users
  • Acquire new photo/video hobbyists such as smartphone users
  • In light of expanding market shrinkage, take further steps to continue cost structure reform
  • Complete the lineup of Z-mount system
  • Launch strategic mid and high-end D-SLR products
  • Enhance coordination with social media/imaging apps to offer a unique imaging experience that stretches beyond shooting
  • Reconsider production and marketing structure, and improve sales expenses and developing costs efficiency
Medium-Term Management Plan (FY2019 to FY2021) (Announced on May 28, 2020)
  • Rebuild business under harsh market environment by further cost reduction and restructuring
  • Further selection of product development. Aggressively shift resources to growth areas.
    → Continue focusing on mid and high-end models, conducting communal designing and shifting resource etc.
  • Drastically revise sales strategy, optimize sales companies. Thoroughly improve efficiencies.
    → Thoroughly reduce sales and marketing expenses leveraging digital marketing.
    → Drastically rebuild global sales network in this fiscal year.
  • Optimize site function and size
    → Utilize sites for other businesses, such as Precision Equipment, where demand is expected.
    → Optimize the number of staff at overseas sites by about 700 people. Continue to reduce fixed costs according to the decrease of production volume.