Nikon profit soars 53.2%

Japanese firm Nikon posted a 53

Japanese firm Nikon posted a 53.2 per cent rise in profit amid strong demand for its advanced cameras, lenses and chip-making equipment.

Operating profit was 102.01 billion yen in the year ended March 31st, up from 66.6 billion yen a year earlier. That compares with a mean market estimate of 99.1 billion yen predicted by analysts.

Nikon has widened its popular digital single-lens reflex camera line-up - especially lighter and smaller devices geared for new users and women - while focusing on profitability in simpler compact models rather than competing for market share.

Tokyo-based Nikon is also the world's number two maker of chip steppers.

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Shares of Nikon have gained 11 per cent this year, compared with a 5.4 per cent gain at camera rival Canon and Olympus's 12.3 per cent rise.