Canon announced growth in its net profit for the first time in three years in its consolidated results for fiscal 2010. The group’s net profit surged 87 percent year-on-year to 246.6 billion yen (US$2.97 billion) on sales of 3.706 trillion yen (US$44.65 billion), up 16 percent.
Sales in the Asia posted an all time high, surpassing the domestic sales for the first time.
Sales by business unit: Consumer Business Unit posted a 29.7 percent surge in operational profit to 238.1 billion yen (US$2.87 billion) on sales of 1,391 billion yen (US$16.76 billion). Digital camera sales were favorable centering around SLR models, which jumped 34 percent to 5.9 million units while compact models rose 7 percent to 21 million units. Camera revenue rose 10.4 percent to about 1,000 billion yen (US$12.05 billion). Inkjet printer sales gained 2.5 percent thanks to favorable going in the Asian market to about 360 billion yen (US$4.33 billion).
Projection for fiscal 2011: Sales 4.1 trillion yen, operational profit 470 billion yen, net profit 310 billion yen. The company anticipates the D-SLR sales to continue growing 18 percent to 7 million units and compact models up 9 percent to 23 million units. The company intends to expand D-SLR production facilities in Taiwan to meet the growing demand in Asia.