DJ Canon Sees 2005 Net Profit Up 20% To Y330 Bln -Nikkei (Dow Jones News Service) Updated: Wednesday, September 15, 2004 04:19PM
TOKYO (Nikkei)--Canon Inc. (7751.TO) expects to see its consolidated net profit rise 20% to Y330 billion for the year through December, marking its fifth consecutive year of record profits on the back of strong sales of digital cameras, color copiers and semiconductor-related equipment, The Nihon Keizai Shimbun reports in its Thursday editions.
The company initially projected a 16% increase in net profit to Y320 billion.
Sales of digital cameras, for example, are estimated to surge by 40% on the year for the July-September quarter.
Cost-cutting efforts involving production processes are also helping the major office machine and precision equipment manufacturer register an all-time high profit and more than offset the impact from a strong yen, a negative factor for the export-oriented firm.