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.