Canon cuts full-year outlook on lean demand for cameras, chip equipment [Reuters (UK)]
Canon, Inc. American Depositary Shares (CAJ)
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Source: Reuters
Canon cuts full-year outlook on lean demand for cameras, chip equipment | Reuters 2 Min Read TOKYO (Reuters) - Japan’s Canon Inc on Thursday lowered its full-year earnings outlook for the second time this year, citing lower sales of single-lens reflex (SLR) cameras and lean demand for semiconductor-producing equipment. The camera and printer manufacturer slashed its annual profit forecast to 335.5 billion yen ($2.99 billion) from 378.5 billion yen. The revised outlook compared with analysts’ estimate of 375.4 billion yen, according to Refinitiv data. The lower guidance comes in three months after Canon had trimmed its annual earnings forecast on slower-than-expected sales of flat panel-making equipment. Sales of SLR cameras shrank faster than expected as some customers held off purchases ahead of Canon’s launch of advanced mirrorless cameras, Chief Financial Officer Toshizo Tanaka said at an earnings briefing on Thursday. Operating profit for the quarter ended September dropped 12.4 p
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