Canon Details Financial Results For First Half of Fiscal Year

Canon Inc. of Tokyo, Japan, recently released its 118th Business Term report detailing its financial performance for the first half of 2018 (January 1 to June 30, 2018).

The firm noted that, regarding foreign-currency exchange rates, the Japanese yen appreciated against the U.S. dollar and depreciated against the euro compared with the first half of the previous year.

For the half-year, sales generated by Canon’s Office Business Unit, which consists of office copier/MFPs, laser printers, etc., were in line with the first half last year, while sales generated by Canon’s Imaging System Business Unit, which consists of digital cameras, inkjet printers, etc., declined year-over-year.

Sales generated by Canon’s Medical System Business Unit, which includes computed tomography (CT) systems, declined compared to the first half of last year, during which time demand was particularly high.

However, Canon’s Industry and Others Business Unit, which consists of lithography equipment, network cameras, etc., continued to deliver strong sales results in the first half, and achieved a “significant increase in sales.”

As a result of all of these factors, net sales for the first half of 2018 increased by 0.1 percent year-over-year, while net income attributable to Canon Inc. increased by 8.5 percent year-over-year, owing to improved profitability.

Canon stated that it sought to improve profitability with sales promotions for high value-added products, with a focus on new products, and with ongoing cost reductions. As a result, consolidated net income attributable to Canon Inc. increased by 8.5 percent versus the first half last year.

In the area of office copier/MFPs, overall unit sales increased slightly year-over-year, as a decline of monochrome copier/MFPs was offset by an increase of color copier/MFPs.

Sales of commercial printing products, including digital sheet-fed presses handled by Canon’s Océ group, were in line with the same period last year, while Canon’s document-solutions group delivered strong sales results.

As for laser MFPs and laser printers, although sales of consumables were relatively weak, sales of printers “remained firm.” As a result, sales for this business unit increased by 0.8 percent compared to the first half last year.

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