Canon Lowers Sales and Profit Goals

Canon Inc. has reported its financial results for the second quarter of 2016 (Q2 2016), revealing an overall weak performance.

Some highlights about the results include:

• Net sales fell 11.7% to JPY 860.2 billion (US$8.137 billion) year-over-year (YOY);
• Gross profit was JPY 432.4 billion (US$ 4.091 billion) in Q2, down 14.2% compared to the same period last year;
• Operation profit decreased 34.5% to JPY 68.6 billion (US$ 649.317 million) year-over-year;
• Net income attributable to Canon Inc. dropped 21.6% YOY to JPY 53.4 billion (US$ 505.44 million).

In the Office Business Unit, unit sales for office MFDs overall increased from the same period of the previous year, while printer shipments decreased 11% in Q2, with color and monochrome printers down 2% and 13% respectively. While inkjet printers sales remained at approximately the same level as for the previous year, laser printers recorded a significant drop in sales as they are more sensitive to economic conditions. Copiers managed to register an increase of 1% in shipments, supported by continued color growth.

Given the growing uncertainty towards the future trajectory of global economy as well as rapid appreciation of yen, Canon has, accordingly, lowered projection for both sales and profit for fiscal year 2016.

Additional information at: www.canon.com/ir/conference/pdf/，www.canon.com/ir/conference/pdf/

You’re Welcome to Contact Us!
You can provide opinions and comments on this story!
Or you can send us your own story!
Please contact us, via editor@RTMWorld.com