Overview
Precision Instruments

NIKON CORPORATION

Nikon Corporation is a diversified optical and precision technology company operating across five business segments: Imaging (cameras, lenses, binoculars), Precision (semiconductor lithography and FPD equipment), Healthcare (microscopes, cell innovation), Components (optical components), and Digital Manufacturing. The company targets both consumer and enterprise customers, serving industries including semiconductor manufacturing, advanced medical research, and industrial manufacturing. Nikon's competitive strengths lie in its core optical technologies and precision engineering, with a stated Vision 2030 ambition to become a central company in a society where humans and machines co-create, focusing on four value domains: Factory, Energy, Healthcare, and Life & Entertainment.

Market Cap
¥561B
US$3.58B
EV
¥581B
US$3.70B
Stock¥1,702▼-2.16%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
NM
LTM EV/EBIT
NM
LTM PER
NM
LTM PBR
0.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-30.2%pt
1001234
Oct 23, 25 – Oct 23, 26StockTOPIX
1Nov 25, 25Silchester International Investors LLP changed stake (9.22%→8.1%)
2Jan 22, 26Earnings guidance raised, restructuring benefits
3Apr 22, 26Silchester International Investors LLP changed stake (8.1%→7.08%)
4Jul 16, 26Silchester International Investors LLP changed stake (7.08%→6.06%)
MC → EV Bridge
561BUS$3.58BMarket Cap220BUS$1.41B+ Debt157BUS$1.00B− Cash44.8BUS$286M− Inv. Sec.1.40BUS$8.93M+ NCI581BUS$3.70BEV
AI Briefing
Nikon: optics-to-precision conglomerate spanning Imaging, Precision (semicon/FPD lithography), Healthcare, Components and Digital Manufacturing, chasing Vision 2030. FY26/3 revenue ¥677B with operating loss ¥-112B (-16.6%), a sharp swing from FY25/3's barely-breakeven ¥2.4B OP; LTM EBITDA negative at ¥-69.0B though forward EBITDA guided to ¥54.3B. Market cap ¥568B vs EV ¥588B reflects a turnaround story still being priced by the market; EssilorLuxottica holds the largest stake at 18.53%.
Performance & Balance
Revenue 5Y (¥B)
540US$3.44B'22/3628US$4.01B'23/3717US$4.57B'24/3715US$4.56B'25/3677US$4.32B'26/3
EBITDA 5Y (¥B)
74.8US$477M'22/384.0US$535M'23/375.4US$481M'24/346.6US$297M'25/3-69.4-US$442M'26/3
Net Income 5Y (¥B)
42.7US$272M'22/344.9US$287M'23/332.6US$208M'24/36.12US$39.0M'25/3-86.1-US$549M'26/3
Capital Structure
73%
27%
EquityD/E 0.37xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
370US$2.36B175US$1.11B'22/3211US$1.35B157US$1.00B'23/3207US$1.32B221US$1.41B'24/3164US$1.04B214US$1.36B'25/3158US$1.01B240US$1.53B'26/3
Shareholders
Top 10 hold 58.3%
1
SG/ESSILOR LUXOTTICA (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
18.53%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
13.88%
3
Meiji Yasuda Life Insurance Company
5.34%
4
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
4.63%
5
Custody Bank of Japan, Ltd. (Trust Account)
4.00%
6
NORTHERN TRUST CO. (AVFC) RE SILCHESTER INTERNATIONAL INVESTORS INTERNATIONAL VALUE EQUITY TRUST (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
3.07%
7
STATE STREET BANK AND TRUST COMPANY 505301 (Standing Proxy: Mizuho Bank, Ltd.)
3.05%
8
MUFG Bank, Ltd.
2.13%
9
NORTHERN TRUST CO. (AVFC) RE U.S. TAX EXEMPTED PENSION FUNDS (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
2.04%
10
The Joyo Bank, Ltd.
1.62%
Management
11 officers
Toshikazu BATATE
Director
Apr 1980 Joined the Company Jun 2005 Executive Officer, the Company Jun 2012 Managing Executive Officer, the Company Apr 2019 President and Executive Officer, the Company Jun 2019 Representative Director, President and Executive Officer and CEO, the Company Apr 2020 Representative Director, President and Executive Officer, the Company Apr 2024 Representative Director, Chairman and Executive Officer, the Company Apr 2026 Director, the Company (current)
1956-03-01
Munesuke TOKUNARI
Representative Director, Chairman
Apr 1982 Joined Mitsubishi Trust and Banking Corporation (now Mitsubishi UFJ Trust and Banking Corporation) Jun 2009 Executive Officer, Mitsubishi UFJ Trust and Banking Corporation Jun 2011 Managing Executive Officer, Mitsubishi UFJ Trust and Banking Corporation Jun 2012 Managing Director, Mitsubishi UFJ Trust and Banking Corporation Jun 2013 Senior Managing Director, Mitsubishi UFJ Trust and Banking Corporation Jun 2015 Managing Executive Officer, Mitsubishi UFJ Financial Group, Inc.; Managing Director, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (now MUFG Bank, Ltd.) May 2016 Director and Executive Managing Officer, Mitsubishi UFJ Financial Group, Inc.; Senior Managing Director, The Bank of Tokyo-Mitsubishi UFJ, Ltd. Jun 2018 Executive Managing Officer, Mitsubishi UFJ Financial Group, Inc.; Director and Senior Managing Executive Officer, The Bank of Tokyo-Mitsubishi UFJ, Ltd. Apr 2020 Senior Managing Executive Officer, the Company Jun 2020 Director and Senior Managing Executive Officer, the Company Feb 2024 Representative Director and Executive Vice President, the Company Apr 2024 Representative Director, President and Executive Officer, the Company Apr 2026 Representative Director, Chairman, the Company (current)
1960-03-06
Yasuhiro OMURA
Representative Director, President and Executive Officer, CEO
Apr 1992 Joined the Company Apr 2019 Executive Officer, the Company Apr 2021 Managing Executive Officer, the Company Apr 2024 Senior Managing Executive Officer, the Company Jun 2024 Director and Senior Managing Executive Officer, the Company Apr 2026 Representative Director, President and Executive Officer, the Company (current)
1968-07-25
Shiro HIRUTA
Director, Chairman of the Board
Apr 1964 Joined Asahi Kasei Kogyo K.K. (now Asahi Kasei Corporation) Jun 1997 Director, Asahi Kasei Corporation Jun 1999 Managing Director, Asahi Kasei Corporation Jun 2001 Senior Managing Director, Asahi Kasei Corporation Jun 2002 Executive Vice President and Director, Asahi Kasei Corporation Apr 2003 President and Representative Director, Asahi Kasei Corporation Apr 2010 Director and Chief Adviser, Asahi Kasei Corporation Jun 2010 Chief Adviser, Asahi Kasei Corporation Jun 2013 Standing Adviser, Asahi Kasei Corporation Jun 2016 Adviser, Asahi Kasei Corporation Jun 2019 Outside Director, the Company Jun 2020 Outside Director (Audit and Supervisory Committee Member), the Company Jun 2024 Outside Director, the Company (current)
1941-12-20
Tsuneyoshi TATEOKA
Director
Apr 1980 Joined the Ministry of International Trade and Industry (now Ministry of Economy, Trade and Industry) Jan 2010 Councillor, Cabinet Secretariat Aug 2011 Director-General, Minister's Secretariat, Ministry of Economy, Trade and Industry Jun 2013 Vice-Minister of Economy, Trade and Industry Jul 2015 Retired from public service Jun 2022 Outside Director, the Company (current)
1958-01-29
Takuya NAKATA
Director
Apr 1981 Joined Nippon Gakki Seizo K.K. (now Yamaha Corporation) Jun 2006 Executive Officer, Yamaha Corporation Jun 2009 Director and Executive Officer, Yamaha Corporation Apr 2010 President, Yamaha Corporation of America Jun 2010 Senior Executive Officer, Yamaha Corporation Jun 2013 President and Representative Director, Yamaha Corporation Jun 2017 Director and Representative Executive President, Yamaha Corporation Apr 2024 Chairman of the Board, Yamaha Corporation (current) Jun 2025 Outside Director, the Company (current)
1958-06-08
Satoshi HAGIWARA
Director (Full-time Audit and Supervisory Committee Member)
Apr 1985 Joined the Company Jun 2015 Executive Officer, the Company Jun 2017 Director and Managing Executive Officer, the Company Jun 2020 Managing Executive Officer, the Company Jun 2021 Director (Full-time Audit and Supervisory Committee Member), the Company (current)
1961-07-18
Seiji KIKUCHI
Director (Full-time Audit and Supervisory Committee Member)
Apr 1988 Joined the Company Jul 2016 General Manager, Finance Department, Finance and Accounting Division, the Company Jul 2019 General Manager, Business Planning Department, Semiconductor Equipment Business Division, the Company Oct 2021 General Manager, Management Audit Department, the Company Jun 2024 Director (Full-time Audit and Supervisory Committee Member), the Company (current)
1965-10-15
Shigeru MURAYAMA
Director (Chairman of the Audit and Supervisory Committee)
Apr 1974 Joined Kawasaki Heavy Industries, Ltd. Apr 2005 Executive Officer, Kawasaki Heavy Industries, Ltd. Apr 2008 Managing Executive Officer, Kawasaki Heavy Industries, Ltd. Jun 2010 Managing Director, Kawasaki Heavy Industries, Ltd. Jun 2013 President and Representative Director, Kawasaki Heavy Industries, Ltd. Jun 2016 Chairman and Representative Director, Kawasaki Heavy Industries, Ltd. Jun 2017 Chairman and Director, Kawasaki Heavy Industries, Ltd. Jun 2020 Special Adviser, Kawasaki Heavy Industries, Ltd. Jun 2020 Outside Director, the Company Jun 2024 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1950-02-27
Asako YAMAGAMI
Director (Audit and Supervisory Committee Member)
Apr 1999 Registered as an attorney; joined Taiyo Law Office (now Paul Hastings Gaikokuho Joint Enterprise) Oct 2005 Seconded to Walt Disney Japan Ltd. May 2006 Joined IBM Japan, Ltd. Jul 2012 Joined Natori Law Office (now Natori & Oki Law Office) as Partner (current) Jan 2016 Director, International Affairs Office, Japan Federation of Bar Associations Jun 2020 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1970-01-01
Michiko CHIBA
Director (Audit and Supervisory Committee Member)
Apr 1984 Joined Tokyo Metropolitan Government Oct 1989 Joined Ota Showa Audit Corporation (now EY ShinNihon LLC) Mar 1993 Registered as Certified Public Accountant Jul 2010 Senior Partner, Shin Nihon LLC (now EY ShinNihon LLC) Aug 2013 Member, Member Council, Shin Nihon LLC Feb 2016 Vice Chair, Member Council, Shin Nihon LLC Sep 2016 Opened Chiba Certified Public Accountant Office (current) Apr 2022 Member, Certified Public Accountants and Auditing Oversight Board, Financial Services Agency (current) Jun 2023 Outside Director (Audit and Supervisory Committee Member), the Company (current)
1961-06-27
Large Shareholding Reports
Silchester International Investors LLP
2026-09-07
6.06%→4.98%
Silchester International Investors LLP
2026-07-16
7.08%→6.06%
Silchester International Investors LLP
2026-04-22
8.10%→7.08%
EssilorLuxottica
2026-04-14
18.59%→19.61%
Nomura Asset Management Co., Ltd.
2026-04-07
5.09%→5.12%
EssilorLuxottica
2026-04-06
17.53%→18.59%
EssilorLuxottica
2026-04-06
—
EssilorLuxottica
2026-04-06
16.51%→17.53%
Correction filing (name/detail fix only) — ratio carried over from the original filing
MUFG Bank, Ltd.
2026-03-30
2.55%→2.55%
Annual report (as of 2026-03-31): 2.13%
EssilorLuxottica
2026-03-23
16.51%→17.53%
EssilorLuxottica
2026-03-11
15.41%→16.51%
Nomura Asset Management Co., Ltd.
2026-03-06
5.13%→5.09%
EssilorLuxottica
2026-02-16
14.20%→15.41%
EssilorLuxottica
2026-02-02
12.95%→14.20%
Nomura Asset Management Co., Ltd.
2025-12-19
5.61%→5.13%
Amova Asset Management Co., Ltd.
2025-12-04
2.76%→2.52%
EssilorLuxottica
2025-11-26
11.84%→12.95%
Silchester International Investors LLP
2025-11-25
9.22%→8.10%
EssilorLuxottica
2025-11-14
10.59%→11.84%
Nomura Asset Management Co., Ltd.
2025-10-22
5.62%→5.61%
Nomura Asset Management Co., Ltd.
2025-10-06
5.34%→5.62%
EssilorLuxottica
2025-10-06
9.47%→10.59%
MUFG Bank, Ltd.
2025-09-30
2.42%→2.55%
Annual report (as of 2026-03-31): 2.13%
Amova Asset Management Co., Ltd.
2025-09-19
2.80%→2.76%
EssilorLuxottica
2025-09-18
8.45%→9.47%
Silchester International Investors LLP
2025-05-20
8.21%→9.22%
Silchester International Investors LLP
2025-03-21
8.17%→8.21%
Silchester International Investors LLP
2024-09-12
7.13%→8.17%
Silchester International Investors LLP
2024-07-26
6.07%→7.13%
Silchester International Investors LLP
2024-06-17
5.02%→6.07%
Silchester International Investors LLP
2024-04-23
5.02%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-09-07
Large Shareholding Report
TDnet
2026-08-06
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-07-16
Large Shareholding Report
EDINET
2026-06-25
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-04-22
Large Shareholding Report
EDINET
2026-04-14
Large Shareholding Report
EDINET
2026-04-07
Large Shareholding Report
EDINETAmended
2026-04-06
Change Report
EDINETAmended
2026-04-06
Change Report
EDINET
2026-04-06
Large Shareholding Report
EDINET
2026-03-30
Large Shareholding Report
EDINET
2026-03-23
Large Shareholding Report
EDINET
2026-03-11
Large Shareholding Report
EDINET
2026-03-06
Large Shareholding Report
EDINET
2026-02-16
Large Shareholding Report
TDnet
2026-02-05
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2026-02-02
Large Shareholding Report
EDINET
2025-12-19
Large Shareholding Report
EDINET
2025-12-04
Large Shareholding Report
EDINET
2025-11-26
Large Shareholding Report
EDINET
2025-11-25
Large Shareholding Report
EDINET
2025-11-14
Large Shareholding Report
EDINET
2025-11-06
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-10-22
Large Shareholding Report
EDINET
2025-10-06
Large Shareholding Report
EDINET
2025-10-06
Large Shareholding Report
EDINET
2025-09-30
Large Shareholding Report
EDINET
2025-09-19
Large Shareholding Report
EDINET
2025-09-18
Large Shareholding Report
TDnet
2025-08-07
Q1 Earnings Flash
FY ending Mar 2026
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