Nikon announced it raised cash by selling an unnamed investment last week. Nikon just last year was showcasing its many investments. It managed to recognize a net gain 20.3 billion yen with the sale, the equivalent of about $185 million. That’s about half the losses Nikon tallied up for the period between April and September 2020.
Nikon’s fiscal year ends at the end of this month, so the sale would have to be recognized prior to then to count against the previous losses. Some companies have covenants with their banks and other financiers that require them to post certain minimum annual performance metrics in order to maintain access to credit facilities.
Also as part of a series of announcements, Nikon indicated it is consolidating three major corporate functions under the offices of the company president. Mergers and acquisition, the Group Governance and Administration Division and the Corporate Sustainability Department will all now cram in together under a more tightly-observed president’s office.