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Nikon cuts annual forecasts - As a cold front sweeps the nation, it's not just the weather giving companies a frosty new year as Nikon starts to feel the bite.
Lower digital camera sales and a stronger yen means the world's second biggest maker of cameras has cut its full year profit forecasts and is also reporting an overall net profit loss for the third-quarter of 2008.
Nikon reported a third-quarter net loss of 2.3 billion yen.
Nikon join other companies such as Jessops and Canon who have also reported losses blaming the economic slowdown for their current situations.