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Nikon suffers 'extraordinary losses' in Q3 FY2011, writes off $143.1m due to Thai flooding

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Nikon posted its Q3 results for the 2011 financial year, making a net loss of ¥3.7 billion yen. The company wrote off a ¥10.9 billion yen loss to account for the flooding in Thailand.

Nikon Logo CES Stock 1020
Nikon Logo CES Stock 1020

Nikon just reported its third quarter figures for the 2011 fiscal year, and in common with recent results from virtually all Japanese tech companies they make for some pretty somber reading. The company booked a one-time loss of ¥10.9 billion (about $143.1 million) to offset the impact of the flooding in Thailand, which will have hit Nikon particularly hard. It has major factories in the country, and also sources sensors from Sony, which suffered similar damage in the disaster. The Thai floods are also likely to have been behind a delay in the announcement and release of the elusive D800 full-frame DSLR. Nikon is down by ¥12 billion ($157.52 million) year on year, posting a net loss of ¥3.7 billion ($48.57 million). Nevertheless, the company still expects to make a profit in the fiscal year ending March 2012, forecasting net income of ¥55 billion overall — an increase on last year, when it made ¥27.312 billion ($358.5 million).