This is Umatate, Representative Director and President, Nikon Corporation. I would like to thank you for your precious time despite your busy schedule to attend our Financial Results briefing. Mr. Tokunari, CFO, will explain the financial results in detail later, so allow me to give you an overall view. In the previous fiscal year, we achieved JPY 49.9 billion in operating profit and JPY 42.6 billion in profit attributable to owners of the parent, turning the company around with profits in one year from a large deficit in the previous year. We are also able to achieve our company-wide goal set at the beginning of the fiscal year of making all segments profitable. We would like to thank our customers, partners, shareholders, and investors for your support despite the difficult circumstances we are faced with. On April 7, Nikon announced its new medium-term management plan.
As for to be where Nikon would like to be in the year 2025, we have defined it as our efforts to work on the best optimal way to realize products and things our customers wish to have. With this in mind, Nikon will strengthen its solution offerings capability, and we will aim at stabilizing our business operations and our profit opportunities. This is in a nutshell of the plan. Our numerical targets are to achieve JPY 700 billion in revenue, 10% or higher in operating margin, and 8% or higher in ROE in FY 2025. We also plan to strengthen our management base, including human resources, who can actually support and contribute to enhance our corporate values. This fiscal year is an important year for us because it is the very first year of our new medium-term management plan.
We will maintain the momentum of the V-shaped recovery of the previous year's performance and aim to achieve JPY 620 billion in revenue and JPY 50 billion in operating profit. At the same time, we intend to make investments and engage in R&D for the future. We ask for your continued support and understanding with our shareholders and investors. Now, Mr. Tokunari, CFO, will give an overview of the financial results for the previous fiscal year as well as the outlook for the current fiscal year. Thank you indeed for your kind attention.
This is Tokunari, CFO, Nikon Corporation. I would like to thank our analysts and shareholders for this opportunity. I would like to explain our financial results for the fiscal year, which ended on March 31, 2022, as well as our outlook for the fiscal year ending March 31, 2023.
First, let me give you the main points of the financial results for the previous fiscal year. Revenue was JPY 539.6 billion, operating profit was JPY 49.9 billion, and profit attributable to owners of the parent was JPY 42.6 billion, a significant increase in revenue and profit over the previous year. Despite the severe business environment in the previous fiscal year, including parts shortages and tight logistics, we succeeded in growing revenue in all segments. Nikon's revenue had been on a downward trend since the fiscal year March 2013, but for the first time in nine years, Nikon was able to achieve an increase in revenue. Operating profit was JPY 49.9 billion, up over JPY 100 billion year-on-year, a big increase.
In addition to the increased sales, profitability improved due to a lower break-even point and eliminated one-time expenses of about JPY 55.6 billion we had from the structural reforms in the previous year, and the foreign exchanges also contributed to this growth in profit. Profit attributable to owners of the parent was JPY 42.6 billion. May I remind you that this does include JPY 6.5 billion in gains on revaluation of securities related to CVC, Corporate Venture Capital investment, one-time profit included. The yellow box on slide four shows major numbers and for the previous fiscal year.
Compared to the numbers in 2020, two years prior to COVID-19, on the far right end of the table, though, the latest revenue was not up to the level back then, but operating profit and profit attributable to owners of the parent were much higher. Slide five shows the actual results by segment for the previous fiscal year. Revenue and operating profit in all segments significantly exceeded the previous year, and we achieved operating profit in all segments as targeted in the beginning of the term. Now I will go through the actual numbers segment- by- segment. First, Imaging Products business. Unit sales fell far below the previous year's level due to the inability to deliver sufficient products to customers due to the parts shortage.
Average selling price rose, and together with the impact of foreign exchange rates, we had a substantial increase as much as 19% in revenue year-on-year. Operating profit was a positive JPY 19 billion, breaking out of the operating deficit for two consecutive years, thanks to the supply of products focused on mid- to high-end models with high profit margins as well as the effect of the structural reforms. Both revenue and operating profit were down from the previous February forecast, but this was due to the logistic disruption in China and the lockdown in Shanghai as of the end of March, which caused a slowdown in product delivery in and out of China. Slide seven shows Precision Equipment business. Sales volume of FPD lithography systems increased thanks to the well-progressed installations, which have been delayed actually due to the travel restrictions caused by COVID-19.
In addition, both FPD and semiconductor businesses posted increases in sales and profit overall as the service businesses remained strong, backed by the high utilization rate of equipment already installed at customers. This was mainly driven by aftermarket services, parts, and installation included. Compared to the February forecast, revenue was down due to the postponed installation of semiconductor and lithography systems till the current fiscal year due to the logistics disruptions and travel restrictions. On the other hand, operating profit was up due to the higher-than-expected service profitability and the cost containment efforts. Now Slide eight on Healthcare business. Revenue and profit increased due to the strong sales of biological microscopes and the retinal diagnostic imaging systems. Revenue reached record highs in all three areas, including contract cell manufacturing.
Operating profit became positive for the first time on the full-year basis, the very first profit generated for Healthcare business. Slide nine shows Components business. Both revenue and profit increased significantly year-on-year due to the strong sales of EUV-related components, semiconductor-related optical components other than EUV, encoders for industrial robots, and photomask substrates for FPD. Slide ten is Industrial Metrology and Others. In addition to industrial microscopes and image metrology equipment, sales of X-ray inspection systems and non-contact metrology system increased, resulting in revenue and profit growth year-on-year. Both revenue and operating profit were higher than the announced numbers in February, but this was mainly because shipments of some industrial equipment products, which had been a concern due to the logistics, proceeded actually faster than expected, so we were able to exceed the sales plan.
Next, I will explain the forecast for the current fiscal year. Now slide 12, we are forecasting revenue of JPY 620 billion, up JPY 80.4 billion year-on-year. We are assuming to increase revenue in all segments and plan to surpass the pre-COVID-19 fiscal year, March 2020, and recover to the JPY 600 billion mark for the first time in four years. Operating profit is expected to slightly increase year-on-year to JPY 50 billion, expecting to increase profit in four segments other than the Precision Equipment business. Profit attributable to owners of the parent is expected to be JPY 38 billion. Yes, this is a contrast vis-à-vis revenue. Profit for the year is expected to decrease due to the absence of investment income of JPY 6.5 billion from the CVC investment recorded in the previous year.
The exchange rate assumption, we are having 120 yen to the dollar and 130 yen to the euro. Please refer to slide 13, which shows the changes in operating profit from JPY 49.9 billion in the previous fiscal year to the forecast of JPY 50 billion for the current fiscal year. Operating profit for the previous fiscal year includes gains from the sales of idle land and buildings and one-time gains from the change in the pension plan of our U.S. subsidiary. Excluding these items, real operating profit was JPY 46.1 billion. JPY 50 billion for the current fiscal year indicates a growth in substance.
While we expect to increase profit by JPY 21 billion this fiscal year due to the increased sales and the improved product mix, we also anticipate an increase in expenses, including travel, transportation, and personnel expenses as we strengthen our sales structure and explore new customers for the future and normalize our business activities after COVID-19. We also expect to increase R&D expenses in line with the midterm plan, as well as expenditures for IT and other measures to strengthen the management base, all in all, JPY 3 billion expected. After factoring in all this and impact of FX fluctuations, we are projecting operating profit to be JPY 50 billion. Please proceed to slide 14. I would like to explain our shareholder returns policy. Our shareholder returns policy is to pay stable dividends and flexibly operate share buybacks with a target total return ratio of 40% or higher.
Based on this policy, we plan to pay an annual dividend of 40 JPY per share, the same as the previous year. We will repurchase up to a total of JPY 30 billion of our own shares starting from May 13, tomorrow, till March next year. Slide 15 shows a list of our outlook for the current fiscal year in terms of the key numbers. The outline has been already explained. As shown on Slide 16, we will have partially changed our segment disclosure starting from the current fiscal year. In order to make the profit and loss of Precision Equipment business more realistic, starting from this April, the expenses of the Next Generation Project Division, which is in charge of growth business development, are now transferred from the reportable segment, Precision Equipment business, to corporate P&L, not attributable to any reportable segments.
The relevant expenses here now for FY March 2022 were JPY 11.7 billion. Slide 17 shows the forecast of business performance by segment year-on-year. As indicated in the note, the previous year's numbers have been retroactively revised in order to reflect the changes I have just explained in this segment. I will now explain the outlook for the current fiscal year segment- by- segment. First, Imaging Products business. As shown in the graph on the left, we plan to increase both revenue and profit this fiscal year as well. Revenue is projected to be JPY 210 billion. The market for interchangeable lens type digital cameras is expected to remain at the same level as the previous year for both bodies and interchangeable lenses due to the continued tight supply of products, including those of competitors, as shown in the bottom left.
We also expect the sales of 700,000 units of bodies and 1.25 million units of lenses to remain at the same level as the previous year due to the parts procurement problem. Demand is firm, and we plan to continue our shift to mid- to high-end cameras for pro hobbyists. In response to the strong popularity of the Z 9, the flagship model of the Z series of mirrorless cameras, we will further expand our product lineups this fiscal year by introducing new Z series products, aiming to increase sales by improving the average sales price. On the other hand, expenses are expected to increase from the previous fiscal year due to the planned R&D activities in order to ensure product competitiveness and to strengthen sales activities.
Taking into account these points, we expect operating profit to increase JPY 3 billion to JPY 22 billion year-on-year. Slide 19 shows the forecast for Precision Equipment business. Please note the operating profit for the previous fiscal year on the left yellow bar is JPY 39.4 billion, which is the total amount putting together JPY 27.7 billion shown on slide seven and JPY 11.7 billion in expenses of the Next Generation Project Division, reflecting the segment change. For the Precision Equipment business for the current fiscal year, we plan to increase revenue and decrease profit. First, revenue is expected to grow to be JPY 240 billion. Although sales of FPD lithography systems are expected to decline, overall sales of Precision Equipment are expected to increase due to the higher sales volume of semiconductors, especially ArF lithography systems.
In the lower left, unit sales of FPD lithography systems are expected to decrease by 50 units from the previous year to 31 units. On the other hand, the sales volume of semiconductor lithography systems, including used equipment, is 61 units, up 26 units from the previous year. Of these, 39 will be new equipment, of which 11 will be ArF immersion and 10 will be ArF dry, and they are in the higher price range. The accounting standard for the number of semiconductor lithography systems has been changed from this fiscal year's forecast. In other words, from this fiscal year, we have included exposure systems for non-miniaturization region, including i-line, in both the overall market and Nikon sales. As shown in slide seven, the total number of units sold in the previous fiscal year was 27 under the old standard.
If i-line, et cetera, are included, the number will be 35, and we plan to sell 61 units this fiscal year based on this new standard. Let me explain the background. Nikon plans to develop and launch new i-line lithography in the systems for non-miniaturization region, where demand is expected to increase in a wide range of areas, such as power semiconductors and from the viewpoint of ensuring continuity of disclosure. The new standard will be used from this fiscal year onward. Operating profit for Precision Equipment business as a whole is expected to be JPY 35 billion.
Although profit from the semiconductors is expected to increase coming from the decreased profit of FPDs, where the sales of 10.5 generation systems with high unit prices are expected to expand, to decline is expected to be significant and the overall profit of the Precision Equipment business is forecast to decrease. Healthcare business plans to increase both revenue and profit, and both numbers are expected to reach record highs. The growth in revenue is mainly due to the increased sales of biological microscopes. We aim to increase sales by expanding new products and cultivating in the private sector markets, mainly in North America. Revenue of the retinal diagnostic imaging systems is expected to decline in the U.S., where our sales grew significantly in the previous fiscal year. Sales in Europe and Asia are expected to increase, and overall sales are expected to remain almost flat.
In the healthcare business, several projects are progressing smoothly, and we plan to steadily increase revenue. Operating profit is expected to increase by JPY 1.7 billion, mainly due to the effect of increased sales of biological microscopes. Slide 21 shows Components business. This business also plans to increase substantially both revenue and profit. Revenue is expected to grow JPY 12.2 billion to JPY 53 billion year-over-year. Sales of optical components related to semiconductors, including EUVs, are expected to grow. The materials processing business is also expected to steadily increase its sales, although its contribution to profit will be limited. Operating profit of JPY 17 billion is expected, and we do expect this segment will become the third earnings pillar following the Precision Equipment and the imaging business. Slide 22 shows Industrial Metrology and Others. Revenue is expected to grow to JPY 37 billion.
In addition to image metrology system, which have been strong since the previous fiscal year, we expect sales expansion in X-ray inspection systems, non-contact metrology systems, and others. Operating profit is expected to increase by JPY 1.1 billion to JPY 4 billion year-on-year. Although expenses are expected to increase in industrial metrology due to an R&D for new products and strengthening of the sales structure, overall profits here are expected to increase due to improved profitability of domestic manufacturing subsidiaries included in others. Now allow me to wrap up my presentation. Results for the fiscal year ending March 31, 2022 improved significantly from the previous year, which was affected by COVID-19, and we achieved profitability in all segments, with operating profit recovering to nearly JPY 50 billion.
By segment, Imaging Products business completed structural reforms and the profitability improved significantly due to the strategy of focusing on pro hobby segments, while the Precision Equipment business, Healthcare business, and Industrial Metrology business also performed well, and we are able to establish a new earnings pillar, Components business. In the current fiscal year, the first year of the new medium-term management plan, we will continue how to maintain this momentum and aim to increase revenue and expand operating profit. There are three major risks at present. First, the continuing parts procurement issue is a challenge, and we will make company-wide efforts to minimize its impact. We are also concerned about the impact of the prolonged Russian invasion of Ukraine on the global economy, as well as the rising costs of crude oil and then other raw materials and distribution.
Furthermore, the impact of the new coronavirus in China, Nikon's largest business partner accounting for 28% in sales, continues to require close attention. Despite these uncertainties in the external environment, we are determined to achieve our numerical targets by meeting the current fiscal year's target. We will go for the good path to the target for the final year of the medium-term management plan in FY 2025, namely JPY 700 billion in revenue, 10% or higher in operating margin, and 8% or higher in ROE by steadily achieving the current fiscal year's targets. We believe this is going to be quite possible because we are now more resilient thanks to our structural reform efforts and our competitive products. We ask for your continued understanding and support from our shareholders and investors.