High targets set for the next three years

Nikon, the world's second-largest maker of digital SLR cameras after Canon, has projected that operating profits will rise by 70 per cent over the next three years.

The company based its figures on expanding sales of digital cameras and chip equipment, along with a lowering of operational costs.

Nikon said that it is looking forward to group operating profits of 90bn yen ($764m) in the 12 months to March 2009, up from an estimated 53bn yen ($449m) in the year ending this month.

The company also said that it aimed to boost revenue to 900bn yen ($7.64bn) in 2008/9, from its forecast for revenue of 710bn yen ($6.02bn) in the year ending this month.

The Tokyo-based company will aim to ship 10.7 million digital cameras in 2008/09, up from an estimated 8.4 million units this business year.

Nikon is also looking to growth in the sale of chip 'steppers', the machines used to etch circuitry onto semiconductors and liquid crystal displays. The company is aiming to sell 165 chip steppers in 2008/9, against its target for 160 this year.