Nikon dives most on record as global chip outlook darkens

TOKYO: Nikon Corp had its 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 yesterday, a day after it said net income fell 78% in the quarter ending in June, hurt by lower utilisation rates by customers of its lithography systems, used to make legacy chips.