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Nikon Corporation

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Nikon’s second-quarter fiscal 2019 results primarily benefited from strong performance of precision and healthcare segments. Increased sales of large-sized FPD Lithography panels boosted precision equipment revenues. Additionally, international revenue growth from biological microscopes and retinal imaging diagnosis instruments aided healthcare revenues. Moreover, demand for D850, Z 7 and D3500 cameras were good. Management noted that improvement in capital investment and increase in personal consumption in Japan led to gradual recovery of the economic situation in first half of the year. This improves growth prospects in the second-half. Notably, shares have outperformed the industry in the year-to-date period. However, high R&D expenditure, restructuring costs and investments related to the medical business are overhang on margins.

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