Imaging: Operating loss due to expenses associated with transitioning manufacturing to Vietnam and intensifying competition
Consolidated revenue in the Imaging Business amounted to ¥48,679 million (down 19.3% year on year), while operating loss amounted to ¥18,268 million (compared with an operating loss of ¥1,200 million in the previous fiscal year).
The Imaging Business’s revenue declined due to the impact of intensifying competition for mirrorless cameras, in addition to constraints on supplies of certain existing products and on the number of new products in conjunction with restructuring of manufacturing locations.
As a result of a decrease in revenues and the recording of costs associated with the restructuring of manufacturing locations and impairment losses of ¥1,990 million, operating loss was recognized in the Imaging Business.
via Olympus