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Nikon forecasts ¥2B impact from dissolution of Chinese manufacturing subsidiary

Nikon Corp. said May 18 that the expense related to dissolving its consolidated subsidiary Nikon Imaging China, or NIC, is expected to reach approximately ¥2 billion.

The Japanese consumer electronics maker said its board decided to hold relevant dissolution and liquidation procedures following the termination of NIC's operations in 2017.

Nikon said the expenses have been reflected in its consolidated financial forecast for the year ending March 31, 2019.

As of May 17, US$1 was equivalent to ¥110.82.