Message from the CEO

日本語

August 2025

Review of the Medium-Term Management Plan

Looking back on the fiscal year 2024, we faced a challenging global environment, marked by rising costs and inflation, as well as stagnating economic conditions across key regions. These pressures intensified competition across many of our businesses. Despite this, we steadily advanced our business strategies and strengthened our management foundation in line with the Medium-Term Management Plan (FY2022–FY2025). I would like to express my sincere appreciation to all stakeholders for their continued support.
We achieved our revenue target of 700.0 billion yen for the second consecutive year, a key milestone of the plan. At the same time, we recognize that further work is needed to improve profitability.
As we move into the final year of the current Medium-Term Management Plan (FY2025), we have positioned this year as a crucial preparatory stage for the next phase. We will work to enhance profitability through strategic investment selection and operational optimization—balancing short-term performance recovery with sustained long-term growth.

1. *The latest revision does not include the impact from US reciprocal tariffs.
2. *The latest forecasts for FY2025 are as of May 2025.

Progress by Business

Imaging Products Business

The Imaging Products Business saw strong sales of new models including the Z6III and Z50II, resulting in continued growth in unit sales for both the digital camera-interchangeable lens type and interchangeable lens categories. Going forward, we will accelerate the rollout of advanced features developed for our flagship Z9 across other models and further expand our interchangeable lens lineup. We remain focused on deepening engagement with core enthusiasts in the mid- to high-end segment, while expanding our user base—particularly among younger generations.
In addition, following the full acquisition of RED Digital Cinema, Inc. in April 2024, we will maximize the synergy of integration to strengthen our presence in the expanding professional video camera market and develop new revenue streams.

Healthcare Business

In the Healthcare Business, we continue to develop new business with private-sector clients through biological microscopy in Life Sciences, which accounts for nearly 60% of Healthcare Business sales. Application development and digital transformation (DX) in pathology diagnostics is further advancing, by means of our R&D bases in Japan, the U.S., and Europe.
Our Contract Cell Development and Manufacturing business supports a broad range of projects, from major pharmaceutical companies to regenerative medicine startups. In Eye Care, our proprietary ultra-wide-angle retinal cameras contribute to early disease detection, treatment, and prevention. Through these efforts, we aim to build a stable and sustainable earnings base.

Precision Equipment Business

In our FPD Lithography Business, we strive to improve profitability by expanding sales negotiations with key customers through the introduction of high-resolution and high-productivity models.
In the Semiconductor Lithography Business, we progress the optimization of our production and service structures while working to grow our stable customer base. We have also invested in the development of new solutions such as digital lithography systems for back-end processes and a next-generation ArF immersion platform to drive future growth over the medium to long term.

Components Business

The Components Business continues to see growing demand for high-precision optical components and EUV-related components in response to semiconductor scaling.
We also see solid growth for sales of X-ray and CT systems and services for the aerospace industry in the U.S. Looking ahead, we will continue to enhance our global solution capabilities that integrate finished products, services, and components to expand our business domain.

Digital Manufacturing Business

In the Digital Manufacturing Business, we are focused on expanding our presence in the defense and aerospace markets through our subsidiary Nikon SLM Solutions AG (hereinafter “SLM”), which specializes in large-format metal 3D printers.
Leveraging our base in the U.S.—the largest market for metal 3D printing—we aim to deliver industry-leading solutions and services. By combining Nikon and SLM’s technologies, we will accelerate the establishment of advanced metal additive manufacturing technology for large precision components.

Progress in Strengthening Our Business Fundamentals

To support our business expansion over the medium- to long-term, it is vital to continue strengthening our management fundamentals. We advance initiatives across sustainability, human capital management, DX, manufacturing, and executive management by allocating capital toward our most critical priorities.

1. *THE USE BY NIKON CORPORATION OF ANY MSCI ESG RESEARCH LLC OR ITS AFFILIATES (“MSCI”) DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT, RECOMMENDATION, OR PROMOTION OF NIKON CORPORATION BY MSCI. MSCI SERVICES AND DATA ARE THE PROPERTY OF MSCI OR ITS INFORMATION PROVIDERS, AND ARE PROVIDED ‘AS-IS’ AND WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI.

Sustainability strategy

Our sustainability initiatives continue to earn high recognition from external stakeholders. In the society and labor area which is one of the themes of our materialities, we revised the Nikon Human Rights Policy in April 2025 to further align with the UN Guiding Principles on Business and Human Rights in response to evolving societal expectations and changes in our business environment.
In the environment area, our performance on GHG reduction and renewable energy utilization has exceeded the targets set in the current Medium-Term Management Plan. In February 2025, we also revised Nikon Environmental Policy to clarify key action areas in response to rising disclosure demands globally. We will continue contributing to a sustainable society while pursuing sustainable growth for Nikon.

Human capital management

We promote a fully integrated approach to business and human resource strategy, focused on the three pillars of acquiring, developing, and leveraging talent.
In terms of talent acquisition, we have hired over 600 new employees for three consecutive years. Our executive development programs are also being enhanced and we provide strong support for early-stage career integration. We will continue to cultivate solution engineers capable of delivering new value in partnership with customers.

DX with a focus on customers and employees

We actively hire DX talent and are raising the digital skills of our workforce. In May 2025, we relaunched our website for corporate customers that spans our businesses to enhance digital marketing capabilities. Toward 2030, we are also moving forward with foundational system upgrades to promote DX across the entire Group.

Manufacturing

The origin of Nikon lies in manufacturing, which we focus on strengthening. In the face of rapidly shifting demand and evolving business environments, we work to enhance our production sites with the aim of building a more flexible and efficient production structure.
To support medium- to long-term growth, we are investing in production infrastructure, including expanded lens manufacturing capacity, which forms the backbone of Nikon’s product excellence.

Executive management

Strengthening of our global governance and compliance systems across the Nikon Group is underway. In October 2024, we consolidated governance, risk management, and compliance functions—previously distributed across departments—into an integrated structure, enabling global and group-base management. We will continue to enhance regional oversight capabilities and expand our second- and third-line functions to ensure robust governance worldwide.

Toward Even Greater Trustworthiness and Creativity

Since its establishment in 1917, Nikon has continued to push the boundaries of light to earn the trust and expectations of customers while creating new value. In 2025, we mark 108 years since our establishment and 100 years since the launch of Nikon’s first microscope.
Nikon microscopes have made the invisible visible—supporting breakthroughs in life sciences, cutting-edge medical care, and advanced industries such as semiconductors.
In order to provide products and services optimized to meet our customer needs, we will consistently consider what customers really want and deliver solutions integrating end-products, service and components.
We aim to successfully achieve our Vision 2030 “to become a key technology solutions company in a global society where humans and machines co-create seamlessly.”