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Canon Sees 84 percent Operating Profit Gain on SLR Camera Sales

January 28, 2011 by spwordpress

Strong sales of DSLR cameras are seen to be driving an earnings recovery at Canon Inc., putting the company on track for an 84% operating profit gain and a two-digit growth in fiscal year 2010 that ended in December 2010, and two-digit growth in 2012.

Its group net profit for the fiscal 2010 appears to have surged 86 percent to 245 billion yen (US$2.916 billion).

Approximately 400 billion yen (US$4.762 billion) has been reported as operating profit
for the fiscal year ended December 31, beating a previous forecast by about 10 billion yen (US$119 million). DSLRs see good sales in China, and the year-end sales are better than
expected even in Japan, the US and Europe, where there were fears of a slowdown. Canon’s overall sales are seen to have jumped 17 percent to 3.75 trillion yen (US$44.6 billion).

The company said that it plans to raise its annual dividend for the fiscal year ended December 31 from 10 yen on the year to 120 yen (US$1.42). For fiscal 2011, sales of digital cameras and copiers are projected to grow, pushing overall sales by 10 percent to more than 4 trillion yen (US$47.6 billion).

 

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