Nikon Corp., known for its cameras and optical equipment, is embarking on a corporate transformation that might make it less of a household name and more of a supplier of components to other businesses.
¡°Most people think of us as a camera company, but historically when we were founded we supplied parts for other companies,¡± Chief Executive Officer Toshikazu Umatate said in an interview. Now, the line between business-to-consumer and business-to-business activity ¡°isn¡¯t as clear anymore,¡± he said.
Founded in 1917, the manufacturer almost single-handedly brought accessible high-quality cameras to the masses, joining the ranks of Sony Corp., Toyota Motor Corp. and other brands that made Japan the world¡¯s second-biggest economy in mere decades from the rubble of war. But the rise of smartphones and more advanced chipmaking technology ¡ª where Nikon once was a leader ¡ª has taken its toll on revenue, which has shrunk by roughly 50% from a 2013 peak of ?1 trillion.
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