Canon Inc. reported that its net profit for the fiscal second quarter dropped 20 percent as supply disruptions after the March 11 earthquake and tsunami hit the domestic production sites.
The company, whose earnings are seen as a lead indicator for major Japanese precision equipment makers, said that its net profit during the April-June period dropped to 53.8 billion yen (US$689 million) from 67.6 billion yen (US$867 million) in the same period a year earlier. Its operating profit for the quarter fell 31 percent to 78.4 billion yen (US$1.005 billion), on total sales of 836.5 billion yen (US$10.72 billion).
For the first half year during Jan-June, 2011, the company posted a 2.9 percent fall in revenue to 1,675.7 billion yen (US$20.95 billion). The company revised its DSLR production forecast from 7 million units to 7.3 million units as the demand for the product is stable, while that of all-in-one models, the company kept as 20 million units as it previously planned.