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Canon Poised For 20% Profit Jump

Japanese camera maker Canon is set to post a consolidated net profit of A$2.55 billion for the current financial year, marking a 20 per cent increase on the previous year.

This is A$52.5 million above Canon’s previous forecast, set in January. Net sales are expected to increase by more than 10 per cent, to approach A$42 billion.

According to Nikkei Asia, the company will continue to benefit from strong sales of semiconductor lithography equipment and security cameras. The former has seen increased investment by chip manufacturers, as business goes back to usual for foundries.

The company will be making the revised forecast official next week, upon the release of its March quarter financials.


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