Canon revises forecasts
January 14, 2021
The company passed a Board of Directors’ resolution on 14 January, revising its consolidated results forecast for the fiscal year ending 31 December 2020.
Canon Inc. announced a revision of its projected forecasts for profits stating that “the markets in which the Company compete, which shrunk due to the spread of COVID-19 in 2020, recovered earlier than expected in the third quarter.”
The announcement added: “The Company again raised its projection as it exceeded its previous forecast, especially for profit, thanks to sales of cameras, driven by new full-size mirrorless models, and inkjet printers, which continued to benefit from home demand.”
The revised forecast for net sales was announced as ¥3,160 billion ($30.39 billion)/ €24.98 billion) up ¥20 billion ($192 billion/ €158 million) compared to the initial set forecasts. Net profit was raised from ¥52 billion ($500 million/ €411 million) to ¥80 billion ($769million/ €632 million).
Categories : City News
Tags : Business Canon Financials Forecasts
