Canon Profit Rises in Q1 Amid Uncertain US Tariffs

Canon Profit Rises in Q1 Amid Uncertain US Tariffs

Canon just announced its financial results for the first quarter of fiscal year 2025. Overall, the markets progressed basically in line with original expectations.

In the first quarter, despite economic weakness in Europe and continued economic slowdown in China due to the real estate crisis, the global economy remained stable due to solid economic activity in the United States. Net sales resulted at JPY 1,058.4 billion (USD 7.4 billion), up by 7.1% year-on-year. Operation profit increased by 20.5% to JPY 96.5 billion (USD 0.67 billion), indicating a good start for the year.

In the first quarter, all segments achieved profit rise to different extents, and dramatic increases were recorded in mirrorless camera, laser printer and webcam businesses. In Printing Business, sales of commercial printing saw growth centering American markets. MFD hardware declined due to the timing of large-scale business deals. Inkjet printers continued to see stable demands, especially in refillable ink tank models, and laser printers sales surged since the completion of shipment adjustments last year. Consequently, the entire business unit sales increased by 5.3% to JPY 611 billion (USD 4.25 billion).

From the second quarter on, Canon expected a mild and stable growth of global economic, but the additional U.S. tariffs will be the main uncertainty in the future. The company forecast that the additional tariff rate of 10% will continue from April until the end of the year, with each business absorbing the impact by raising selling prices, which may give rise to decreases in sales volume and demands.

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