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At the 2004 Photokina I had an interview with managers (Kamijo-san - Nikon Europe and Kimura-san - president of Nikon Imaging). They said that 'the prodcution of the DX-format sensor and DX-lenses are cheaper than full format versions, but we follow the development of full frame sensors'. Till now they are hesitating to make use of it. They also worked on a hybrid camera (during the development of the F6) with a interchangeable back (like the Fuji and Kodak digi-SLR's and others), but they didn't bring a hybrid camera as they think that the changing system can't be safe enough and not many photographers do change from film to digital v.v. frequently. That's why they didn't gave the F6 interchangeable viewfinders too: 'almost nobody is changing a finder'. They announced much more lenses (including VR) and the continuation of the F5, because 'the professional user needs a system camera'. (They keep the FM10 for the poorer part of the world and stop production of the MF-lenses. Nobody buys them, did you?)
They furthermore announced the nano crystal coating.
Kamijo also confirmed to distribute their gear in certain European countries via long time private importers, like in Italy, Belgium and Holland. As it seems he lied to me however, because Nikon has founded a Nikon Benelux; the Belgian importer has to stop importing and distributing Nikon in a few months and the Dutch importer will have a difficult year as well. Nikon Europe recently opened a new distribution centre in Holland for entire Europe. In the 'new' countries (like Russia, which was served via the Swedish office) Nikon has its own offices and distribution channels.
Another novelty was the introduction of a consumer relations management (sic!). With the slogan 'exciting, happy and cool' they like to communicate with the 'general consumer'.
I am almost 40 years in the international PR-business but I've never seen a company (a global player as Nikon calls itself) with such a horrible PR policy like Nikon Corporation. Look at the recent introduction bloopers. Amazing!!!!!!!
A very optimistic Manager Europe told me that Nikon wants to become the 'most important producer of digital reflex cameras in the world. In 5 years we will be No. 1 .' Not with the present PR-policy and their management structure worldwide, I'm afraid. A press officer of Nikon told me that there are no Japanese top officials in Nikon headquarters that speak a foreign language, their is no desk for foreign journalists and the last visitors (headed by Hans Braakhuis) to the factory were offered (after a lot of requests) to see the factory. They were put in an elevator and brought to the roof, where they could look over the premises, put back in the elevator and were shown out on the street. I don't know if we still have a Nikon Corporation in 5 years at all! Nikon (part of the Mitsubishi Group) is making money with its steppers, photo gear is a side product. The Mitsubishi Group has severe problems in making profits. Still Japan has the world's largest trade surplus, but beware of the Chinese!! They may overrule Japanese producers like Nikon.
Finally, I do hope Nikon survives and becomes more transparent and friendly to its customers. Let's see what those managers are going to tell us at the next Photokina in September this year.
Stay tuned.
Regards,
Nico
(I wrote a few articles about the Mitsubishi Group and Nikon in the Nikon Club Nederland Magazine).

Fred, Kiumars, Jarle and others, here my feeling about Nikon's position.
Japanese economy hosts a strange phenomenon: (in Japanese script - kanji): zaibatsu, which means ‘money clique’. In reality it is a financial and industrial conglomerate of (family) businesses. After the Meji-era (186 the zaibatsu’s became powerful groups, often privileged by the government via special tax rules etc. Outside Japan those zaibatsu’s were very active in Taiwan and Korea, too. In the 1930's the Japanese zaibatsu’s - via excellent political connections - controlled about one third of all bank balances , one third of foreign trade, more than 50 % in shipbuilding industry and other heavy industry. In those years the army tried to break through that monopoly, but failed. The American occupation formally removed the zaibatsu’s. But after the W.W. II the ‘keiretsu’ was introduced (as a replacement).
Again in Kanji ‘keiretsu’ means ‘series of related connections’. In reality it means that a group of entreprises have control and possess of each other shares. They help each other with technical and financial matters by e.g. paying low dividends to make more money available for investments, research etc. By sharing shares foreign hostile takeovers (by competitors) are minimized. A disadvantage of this system is, that when all group members suffer at a loss, the whole group has a problem. In the 1990's those keiretsu’s had a hard time mainly because of secret deals and donations with/to politicians. It became a national scandal. Some large keiretsu’s, like Mitsui, Yasuda, Sumimoto. Okura, Suzuki and Mitsubishi were in severe problems.
Nikon Corporation is a member of the Mitsubishi Group (alias: keiretsu).
Mitsubishi (in Kanji: 3 diamonds) was founded in 1870 as a shipping company. Via many takeovers and deals with respective governments, this Group became a privileged group. In 1919 the Mitsubishi Bank was founded as the main financial pivot in the group.
Nowadays the Mitsubishi Group has breweries, electronics, insurance, chemicals, medical, paper, aluminium, steel, gas, marine and construction companies. The probably best known industry of the group is (loss-making) Mitsubishi Motors and ‘our’ Nikon Corporation. Nikon is one of the smallest industries in this group. The managers of the most important keiretsu members are frequently meeting in the so called ‘Friday Club’ (each second Friday of a month).

Japanese economy has and had a hard time since 1990. Unemployment scored records, Bank of Tokyo lowered the discount rate to a historic 0.5 %. Japan Leasing Corporation went broke in 1999 and the Long-Term Credit Bank was saved by the bell by a ‘nationalization trick’.
Many members of the Mitsubishi Group are in problems, even the banks. Although some banks merged and became the largest financial institution in the country, if beggars sit together, they are still beggars. Many banks and other MG members have red figures on their balance.
Nikon has its sales from about 33 % in LCD- and IC-steppers, about 50 % in cameras and lenses, the rest from instruments. The stepper world is interesting but difficult and hard. Nikon had - for long time - patent fights with 2 competitors (Zeiss and AMSL). Since early last year that fight is over. Nikon sold more steppers, but the world’s largest stepper factory (AMSL in Holland) made some profit but still less than other years. Nikon was making (some) money by the sales of the Nikon D-70 range, but has not much money to invest in new developments. If you look at Nikon’s financial results they are able to pay - after many years - a dividend of 8 Yen (sic!) per share. Hopefully the Nikon D-200 is making money, otherwise Nikon will be in problems again.
Many other camera producers are in problems: Leica (almost broke), Konica Minolta (stopped), various film producers (Kodak, Fuji, Agfa, etc.) and many famous names are taken over by ‘cowboys’ who think they can ride on reputations they will never achieve.
If Nikon doesn’t survive the coming three years, it will be over. The Mitsubishi Keiretsu managers are not willing to pump money in a small company like Nikon Corporation.
To save money and to become more efficient Nikon is curtailing production.
Chinese economy is booming, licenses are free (many producers come with lenses and cameras with F-mount), competition will become whimsical.
Let’s hope Nikon survives, because I like their products, even my first Nikon EM.

Hans Braakhuis is in Tokyo at this moment, so let's see with what kind of info he comes back.
The point I tried to make is that Nikon Corporation is meber of a group which might be in danger; and Nikon is only active in the stepper and photography business. 8% of their net sales come from microscopes and measuring products and 3.3% from sport and surveying optics. Canon has more legs to stand on. If Nikon doesn't sell a lot of cameras (like they did with the D70) during the coming 3-5 years and in the stepper business competition will harden, future is uncertain. A positive point is that the Japanese have shown the last 100 years or so to survive and make a impressive comeback.
Let's hope we all can celebrate the year 2017 with a nice remake of one of their top products.
Nico