Olympus Imaging Q1 sales down 40%

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SHood Veteran Member • Posts: 5,597
Olympus Imaging Q1 sales down 40%
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This was in line with Canon and Sony Q1 sales that were down 30% and 50%, respectively from Q1 2019. Operating loss increased by 20% from Q1 2019. This smaller increase in loss is somewhat better than expected but I was really interested in looking at the cost expenditures during Q1.

https://www.olympus-global.com/ir/data/brief/2021.html

The first this I noticed is that Imaging R&D stayed flat from Q1 2019 (down on 3%). The R&D for the E-M10iv and 100-400 were completed before Q1 so this is a good sign that R&D may not be heavily impacted by the JIP transfer and that R&D is continuing as we speak.

The other item I saw was that Olympus Imaging employees dropped from 4,270 to 3,763 with almost all of the layoffs coming from outside of Japan. This would suggest the Olympus is focusing on slashing Sales/Marketing expenses worldwide to reduce costs which is what he have heard from various report around the world.

It will be interesting to see if these trends continues in the next quarterly report. Keep in mind that any significant employee layoffs will need to occur before the transfer to JIP as this is the only way for Olympus to skirt around the Japanese business rules of not laying off employees. JIP will be in the same position comes January so they will want to see the cost cutting before the transfer in order for them to sign off on this.

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