Japanese group trims outlook as yen strengthens and US tariffs bite into profits.
Canon has lowered its full-year earnings forecast, citing the strengthening yen and mounting pressure from US tariffs, despite continued momentum in its imaging and medical divisions.
The company now expects 2025 operating profit of ¥460 billion ($2.94bn/€2.74bn), down ¥6 billion from its earlier guidance, and net income of ¥330 billion ($2.11 billion/ €1.97 billion), down ¥3 billion. The revision reflects anticipated cost increases tied to 10% US import tariffs, partially offset by price hikes and cost reductions.
In the April-June quarter, Canon’s operating profit held steady at ¥117.8 billion ($755 million/ €703 million), despite currency headwinds shaving ¥21.4 billion ($137 million/ €128 million) from the bottom line. First-half sales rose 2% to a record ¥2.2 trillion ($14.1 billion/ €13.1 billion) on a local currency basis.
While network camera sales surged nearly 20% and medical equipment expanded strongly across Europe and emerging markets, the printing segment remained a drag. Quarterly printer sales fell 6.7%, with prosumer and inkjet models suffering double-digit declines.
The group now anticipates full-year printing revenue of ¥2.49 trillion ($16 billion/ €14.8 billion), down 1.3%, but expects improved profitability at 11.6%.
Canon is pressing ahead with structural reforms, including supply chain realignments and sales restructuring, aiming to boost margins and raise return on equity this year.
