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Canon boosts forecasts, printer and digital camera demand robust | Canon Rumors

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Canon Inc. (the “Firm”), at a Board of Administrators’ assembly, held on July 19, 2021, revised the consolidated outcomes forecast for the fiscal yr ending December 31, 2021, that it launched on April 26, 2021, as follows.

Motive for Revision

Within the second quarter of 2021, as was the case within the first quarter, gross sales of inkjet printers, which proceed to be in excessive demand on account of extra individuals working and studying from residence globally, grew strongly. Moreover, even amid restrictions on actions linked to the COVID-19 pandemic, curiosity in and demand for cameras elevated, leading to gross sales remaining robust in every area, notably for full-frame mirrorless cameras and interchangeable lenses. The Firm can be posting gross sales development of different merchandise, corresponding to medical and semiconductor lithography tools, because of favorable market situations. Amid inflation attributable to a scarcity of products, we count on the favorable market atmosphere to proceed within the second half of the yr. Moreover, extra individuals getting vaccinated is anticipated to convey the variety of individuals commuting to places of work again, leading to print demand recovering within the workplace market. Primarily based on these assumptions, the Firm has revised its full-year consolidated outcomes forecast.

This discover comprises forward-looking statements with respect to future outcomes, efficiency, and achievements which might be topic to threat and uncertainties and mirror administration’s views and assumptions fashioned by out there data. All statements aside from statements of historic reality are statements that might be thought-about forward-looking statements. When used on this doc, phrases corresponding to “anticipate,” “consider,” “estimate,” “count on,” “intend,” “might,” “plan,” “challenge” or “ought to” and comparable expressions, as they relate to Canon, are meant to determine forward-looking statements. Many elements may trigger the precise outcomes, efficiency, or achievements of Canon to be materially completely different from any future outcomes, efficiency, or achievements which may be expressed or implied by such forward-looking statements, together with, amongst others, modifications typically financial and enterprise situations, modifications in foreign money alternate charges and rates of interest, the introduction of competing merchandise by different corporations, lack of acceptance of latest services or products by Canon’s focused clients, lack of ability to fulfill effectivity and value discount goals, modifications in enterprise technique and numerous different elements, each referenced and never referenced on this discover. An in depth description of those and different threat elements is included in Canon’s annual report on Type 20-F, which is on file with the USA Securities and Change Fee. Ought to a number of of those dangers or uncertainties materialize, or ought to underlying assumptions show incorrect, precise outcomes might range materially from these described herein. Canon doesn’t intend or assume any obligation to replace these forward-looking statements.

Revision of Consolidated Outcomes Forecast for Fiscal 12 months Ending December 31, 2021

Tens of millions of yen (besides per share quantities)
Web gross sales Working revenue Earlier than Tax Web Revenue Per Share
Earlier forecast 3,500,000 198,000 211,000 140,000 133.89
Revised forecast 3,600,000 283,000 298,000 201,000 192.23
Change 100,000 85,000 87,000 61,000 58.34
% change 2.9% 42.9% 41.2% 43.6% 43.6%
For reference, Fiscal 2020 3,160,243 110,547 130,280 83,318 79.37

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