Binocular and Telescope Products Division Spin-Off Nikon Vision Co., Ltd. to be Established as a Subsidiary
March 14, 2001
Nikon Corporation (YOSHIDA, Shoichiro President) will reform its Binocular and Telescope Products Division as a subsidiary company named Nikon Vision Co., Ltd., as a part of its going restructuring program.
The new company will continue to do the business in the binoculars and telescopes fields, which Nikon first entered in 1917. The streamlining of this area of Nikon's business is expected to result in enhanced efficiency, and quicker and more flexible response to the market demands, while facilitating the expansion of Nikon's involvement in the above fields.
COMPANY PROFILE
| Name | Nikon Vision Co., Ltd. |
|---|---|
| President | OBARA, Riichiro |
| Address | Nikon Futaba Building, 3-25, Futaba 1-chome, Shinagawa-ku, Tokyo 142-0043, Japan |
| Main business | Designing, manufacturing, sales, rental, repairs, import and export of telescopes, binoculars, monocular, Fieldscopes, astronomical telescopes, loupes, microscopes, laser rangefinders, CCD camera system for Fieldscopes, night vision scopes, other optical equipment and related components |
| Capital | 300 million Japanese Yen |
| Establishment | April 2, 2001 |
| Start of operation | May 1, 2001 |
| Sales target for the first year | Approx. 6 billion Japanese Yen |
| Number of employees | 45 |
BACKGROUND
Nikon Corporation introduced its new in-house company system in October 1999. Each individual company has taken on a greater degree of authority and responsibility, handling its own profits and losses, capitalization, cash flow and other matters in line with the corporation-wide movement toward decentralization of authority. This in-house company system spurred the Binocular and Telescope Products Division on to excellent performance.
The conversion into a subsidiary is expected to enhance its efficiency in operations and management, further increasing profitability and laying the foundation for Nikon Vision Co., Ltd.'s development into a creative, productive company.
Highlights in Nikon's binoculars and telescopes business
| 1917 | Nippon Kogaku K.K. established, and development of binoculars begun. |
|---|---|
| 1921 | MIKRON 4x15 and 6x15 compact binoculars manufactured. |
| 1945 | Conversion from military to consumer products, concentrating on binoculars production. |
| 1959 | Nikon brand name adopted for binoculars. |
| 1964 | Look 6x18 compact binoculars released at the Tokyo Olympics. |
| 1976 | 7x26DCF and 9x30DCF, the first roof prism binoculars, released. |
| 1980 | The high-grade 10cm refractive equatorial telescope employing ED glass for astronomical observation released. |
| 1981 | Fieldscope released for birdwatching. |
| 1983 | Binocular telescope 20x120 III released for marine, surveillance and astronomical observation. |
| 1985 | 30x80 II sightseeing binoculars released. |
| 1995 | Binocular and Telescope Products Division established separated from Ophthalmic Products Division. |
| 1996 | Range of outdoor-use products expanded, and portable stereoscopic microscopes released. Full-scale overseas manufacture of binoculars started. World's first high-grade compact titanium body binoculars - 5x15DCF - released. |
| 1997 | 8x42DCF and 10x42DCF high-grade roof prism binoculars released. |
| 1999 | Laser 800 portable laser rangefinder released, marking Nikon's entry into a new area of business. |
| 2001 | Binocular and Telescope Products Division reformed as Nikon Vision Co., Ltd., an independent Nikon subsidiary. |
- The information is current as of the date of publication. It is subject to change without notice.