Nikon management just got report from reality:

This is to announce the recognition of extraordinary loss for the nine months ended December 31, 2016 (from April 1 to December 31, 2016), as below.

Recognition of Restructuring Expenses

As announced in “Notice of Restructuring” released on November 8, 2016, Nikon Group is currently under a fundamental company-wide restructuring to improve its corporate value as shifting from a strategy pursuing revenue growth to one pursuing profit enhancement.

In accordance with this restructuring, the Group recorded extraordinary loss of 29,790 million yen, mainly incurred from inventory write-downs/write-off in Semiconductor Lithography Business, as restructuring expenses for the nine months ended December 31, 2016.

Also, restructuring expenses in Imaging Products Business and the expenses related to “Results of Solicitation for Voluntary Retirement,” which is released today, are expected to incur in the fourth quarter of this fiscal year. As a result, the total amount of restructuring expenses for the fiscal year ending March 31, 2017 will be approximately 53,000 million yen, which is 5,000 million yen increase from the previous estimate of approximately 48,000 million yen in “Notice of Restructuring” released on November 8, 2016.

Impact on Consolidated Financial Forecast

The impact of the recognition of restructuring expenses has been reflected in the consolidated financial forecast for the fiscal year ending March 31, 2017, as announced today in “Revision of the Financial Forecast for the Fiscal Year Ending March 31, 2017”.

Revision of the Consolidated Financial Forecast

Nikon plans to shrink by forcing 1,143 persons to leave into early retirement.