Canon Adjusts Sales Goals

Thanks to the current sluggish business environment, Canon has adjusted its sales target down to a meager 3% growth in Malaysia this year.

According to president and CEO Wataru Nishioka, the Canon Marketing (Malaysia) Sdn Bhd, sales revenue is expected to increase 3% to RM680 million (US$167.2 million) in 2016, seeing a 2%-6% growth for its printer, copier and high speed industrial printers sectors.

As revealed, 43% of the company’s revenue comes from its printer division, 24% from copiers and 7% from its large volume printer and large volume high-speed printer offerings.

Additionally, since transactions between Singapore and Malaysia are made in US Dollars, the continued weakening Ringgit against the Dollar will continue to force a price rise in the US dollar.

“In the past, we were aiming for much higher growth, but for this year, we would like to aim for more realistic and achievable target. It will be very a challenging year, because it seems like it is taking a longer time for Malaysian economy to recover. GDP growth ratio is also gradually getting lower,” said Nishioka.

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