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Nikon Says Profit May Beat Estimates

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August 26, 2005 - Nikon, the world’s fifth largest seller of digital cameras, said its profit for the first half of the year is likely to exceed previous estimates thanks to rising sales of digital cameras.

Masayuki Hatori, a spokesman for Tokyo based Nikon, said that the company had recorded strong sales of cameras in July, putting it on pace to beat its profit forecast. The spokesman declined to give specific sales details.

The Japanese business daily Nihon Keizai reported that Nikon is likely to post first half profit of 22 billion yen. Nikon did not confirm this estimate, instead saying that was the newspaper’s own forecast.

Earlier this month, Nikon raised its operating profit forecast for the sixth months ending September 2005 to 19 billion yen, compared with 8.1 billion yen for the same period a year ago.

While Nikon is fifth worldwide in sales of overall digital cameras, the company is the number two seller of digital SLRs behind competitor Canon.

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