Nikon Corporation (TYO:7731) is a multinational corporation that specializes in optics and imaging. Nikon is a well-recognized brand name of imaging products, its most profitable business segment. Nikon also has the leading market share for ArF Immersion Scanners. 
Geographically, Nikon is segmented into Japan, North America, Europe, Asia/Oceania, with net sales from each segment respectively representing 24%, 33%, 25%, 19% of total sales. Nikon's operations are segmented into Precision Equipment (net sales representing 19.1% of operating income), Imaging Products (net sales representing 72.5% of operating income), and Instruments (net sales representing 5.7% of operating income).
Nikon is best known for its digital SLR cameras and has seen increased sales by expanding its lineup of cameras offered especially its flagship models, as well as by continually innovating its products overall.  Nikon also has the leading market share in ArF immersion scanners and offers a range of products in the optics and imaging industries, including microscopes, cameras, LCD steppers and scanners, semiconductor-related equipment and measuring instruments.
For the fiscal year ended March 2010, Nikon's net sales declined 10.7% to ¥785,499 million, with an operating loss of ¥13,854. This decline is mainly due to the decrease in sales of IC and LCD steppers and scanners in the Precision Equipment Company from the global demand for semiconductor devices dropping, as well as the effects of the appreciation of yen on the Imaging Company.
With the decline of traditional film sales due to the increasing popularity of digital imaging technologies, the company has put a focus on digital technologies. Nikon was a pioneer of digital SLRs as a research project for NASA in 1991. Nikon is able to continue to achieve most of its net sales from its Imaging Products segment with its innovation in technology.
With only 24% of its net sales coming from Japan, appreciation of the Yen actually adversely affects the company. As the yen appreciates over other currencies, sales in foreign countries are converted to less yen for accounting purposes. Conversely, depreciation of the yen results in higher profit reporting for Nikon.
Nikon operates in a competitive market with other optics and imaging companies. Makers of steppers include: ASML, Ultratech, Nikon, and Canon.