Nikon Dives Most on Record as Global Chip Outlook Darkens
- Nikon supplies mature chipmaking machines to Intel, TSMC
- Chip industry sales have been hit by glut, economic headwinds
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Nikon Corp. had their biggest intraday drop on record after the camera and chip equipment maker reported a steep fall in profit and cut its outlook on precision equipment.
The Japanese company’s stock price tumbled as much as 21% in Tokyo on Wednesday, a day after it said net income fell 78% in the quarter ending in June, hurt by lower utilization rates by customers of its lithography systems, used to make legacy chips.