Olympus publishes the new financial report: Imaging Business lost more money than expected

Olympus published the latest financial report: There are two news:

  • In the Imaging Business Olympus lost $500 million more than previously forecast
  • The Imaging Business is now marked as “discontinued operation”

Our reader Mistral made a more deep analysis for us:

This business is soon to be divested and therefore accounted for as ‘discontinued operation’ (= not consolidated anymore) but they are still reporting the corresponding figures.
They recorded an operating loss of ¥46bn in Q2 (July – September) and ¥48.6bn in H1 (April – September) and forecast a total operating loss of ¥53bn ($500m) until divesting the business to JIP (thus meaning an additional ¥4.4bn in Q3).
See https://www.olympus-global.com/ir/data/brief/pdf/Olympus_Q1FY2021_Presentation_E.pdf page 6 and page 25-26 for Q2 and H1 (‘profit from discontinued operation’) and page 14-15 for the FY2021 forecast.
See also https://www.olympus-global.com/ir/data/brief/pdf/Olympus_Q2FY2021_Supplemental_E.pdf Page 7 gives the same information plus additional details on investments, R&D, revenue by geographical zone and unit sales. Bottom of page 2 gives information on headcount.

All these pieces of information point at a severe downsize before the divestment.

  •  Headcount went down 30% in 6 months between 31 March 2020 (4,270 employees) and 30 September 2020 (3,031 employees). In Japan, less than 400 employees remain in the Imaging business.
  • Between the first half of FY2020 and the first half of FY2021, capital expenditures (= investments) fell by half and R&D expenditures by 30%.
Q3 (October – December) business forecast is gloomy too:
  • Revenue: ¥6.3bn, down more than 50% in comparison to the same quarter last year after -43% in Q1 and -26% in Q2 and in spite of the global economy recovering from Covid-19, in particular in Asia.
  • Operating loss: ¥4.5bn = 72% of revenue, even though all one-off costs should have been recorded in the Q2 accounts.
I have trouble seeing how JIP could turn that thing around (make it profitable again) without deeply modifying the business model…

NIK collection 3.3 releases with 25 new fascinating filters.

Today DxO announced the new Nikon Collection 3 anniversary edition! It includes 25 new presets you can check and test virtually here.

Press text:

We are celebrating Nik’s 25 years this month, 18-25 November. Nik is becoming 25 years old since the day it was conceived in an office in Hamburg by Nils Kokemohr in 1995. It was back then that we saw the first digital camera going to market, the Casio QV10.

Since then many great things happened in the photo industry, establishing Nik Collection by DxO as an all-time classic for photographers, and making it more relevant than ever. This is why we are releasing an update for Nik (version 3.3) with 25 new fascinating filters. The 25 new filters in the Nik Collection 3 by DxO are split into five series, each containing five filters:

· Three for Color Efex Pro:
o Classic Portrait
o Light & Bright
o Wildlife

· Two for Silver Efex Pro:
o Classic Portrait
o Street

One more news: Last 24hours of the PhotoLab 4 deal (Click here to read all info and get the 30% discount). You can also download the free trial (Click here) if you want to test it before to buy it.

 

World’s fastest photographic lens: Voigtlander 29mm f/0,8 officially announced!

Cosina Japan officially announced the Super Nokton 29mm f/0,8 MFT lens! Preorders will be available in December for around $2,000.

Main specs:

This is th google translated press text:

The Nokton 29mm F0.8 is a standard lens designed exclusively for Micro Four Thirds. Achieves the brightest F0.8 * as an interchangeable lens for photography currently on the market. The angle of view of the diagonal 42.75 ° (equivalent to a 58mm lens in the 35mm format) is the same as the standard lens with a large aperture of the past, and you can enjoy shooting with a large blur due to the ultra-large aperture of F0.8.

Main features:
● Amazing large aperture With a large aperture with an
open F value of 0.8, it is possible to shoot with just “as is light” even under extremely low light conditions. It is also the best lens for shooting with shallow focus and beautiful bokeh when the aperture is open.

● Ultimate lens design
By adopting a uniquely developed GA (grinding aspherical surface) lens for the optical system, it is possible to design with a high degree of freedom using a glass material with a high melting point that cannot be used with a glass mold aspherical surface. While achieving an ultra-large aperture of F0.8, high image quality can be obtained from the widest aperture, and a compact size and weight that are easy to handle are achieved.

● Various expressive power When the
aperture is wide open, the straightforward and gentle bokeh emphasizes the focused motif and creates a three-dimensional effect. If you stop down the aperture, you will get a very sharp image, and you can express a variety of photographs with a single lens. The number of apertures is 12, and the out-focus part of the point light source is depicted in a neat shape.

● Aperture click switching mechanism
With the newly designed aperture switching mechanism, it is possible to open and close the aperture ring steplessly without generating a clicking sound. This eliminates the need to worry about picking up the aperture ring operation sound when recording movies, and also enables severe depth control by fine-tuning the aperture ring.

● Dedicated lens hood included
A metal lens hood with excellent light-shielding effect is standard equipment.

● Micro Four Thirds dedicated mount
Compliant with the Micro Four Thirds standard, the optics and mechanism are specially designed. While covering the image size of the image sensor, high image quality is achieved by optimizing it for the Micro Four Thirds sensor.

● Manual focus that enables reliable focus operation
By adopting an all-metal helicoid unit that has been processed and adjusted with high precision and high-quality grease that produces an appropriate torque, focusing with a smooth operation feeling is realized. Allows for delicate focus adjustment.

 

Here are the image samples: