Nikon Digital Manufacturing Revenue Rises 77%
Growth in large-format metal additive manufacturing sales narrowed the division's operating loss in the six months to September 30, 2026.
Updated on Nov. 10, 2026 in Corporate Finance
Nikon reported a 77.2% increase in Digital Manufacturing revenue to approximately $109.4 million (¥17.4 billion) for the six months ended September 30, 2026, up from about $61.6 million (¥9.8 billion) a year earlier. The company said the gain was driven by higher sales of large-format metal additive manufacturing machines from Nikon SLM Solutions.
Why it matters
The division's operating loss narrowed to about $13.8 million (¥2.2 billion) from roughly $56 million (¥8.9 billion), signaling improving profitability in a segment that remains loss-making. Investors will be watching whether demand for large-format metal machines can sustain the turnaround.
Revenue rose 77.2% year over year, and amortisation of intangible assets fell by approximately $11.3 million (¥1.8 billion). Orders for large-format metal AM machines reached a record quarterly high in the second quarter, though the segment remains loss-making.
The players
Nikon Corporation
Nikon is a Tokyo-headquartered Japanese optics and imaging company whose businesses include precision instruments and digital manufacturing.
Nikon SLM Solutions
Nikon SLM Solutions is a German-based metal additive manufacturing company that Nikon acquired and that produces large-format metal 3D printing machines.
The details
Nikon attributed the revenue growth to higher sales and favourable foreign exchange movements, and the operating loss reduction to higher sales, lower intangible asset amortisation and restructuring measures from the previous financial year. The company also plans to introduce a next-generation, semi-large-format metal AM machine.
Timeline
September 30, 2026: End of the six-month period covered by the reported results.
November 5, 2026: Nikon published its financial results.
March 31, 2027: Close of the financial year for which Nikon has issued its forecast.
Corporate Finance Context
Nikon's Digital Manufacturing recovery rests on large-format metal additive manufacturing, a niche industrial segment where order volume rather than consumer demand drives results. The segment's continued losses show that the turnaround is still early relative to the company's group-wide profitability.
Investors tracking Nikon's forecast should note that Digital Manufacturing is expected to post a full-year operating loss of about $25.2 million (¥4 billion) despite projected revenue of roughly $213.8 million (¥34 billion). Group revenue is forecast at about $4.54 billion (¥722 billion) with operating profit near $103.8 million (¥16.5 billion).
The takeaway
Segment-level revenue growth can mask continuing losses, so the operating line is the figure to monitor. Nikon's forecast implies the Digital Manufacturing division will remain unprofitable through the coming fiscal year.
Further reading
For broader context on how segment turnarounds like this fit into company-level capital decisions, see Corporate Finance.
Source note: This article includes information reported by Metal Additive Manufacturing.
