Canon trims annual profit outlook as post-Brexit yen rise hits Q3


  • TECH
  • Wednesday, 26 Oct 2016

European revenue: Foreign sales account for four fifths of Canon's revenue, with Europe, its biggest market, making up almost a third of the total. — Reuters

TOKYO: Japan's Canon Inc cut its full-year operating profit forecast on Oct 26 as the yen's strength in the wake of Britain's vote to leave the European Union slashed third-quarter income by almost half.

The world's biggest maker of cameras and printers lowered its operating profit forecast for the year through December to ¥235bil (RM9.39bil) from a ¥265bil (RM10.58bil) estimate in July.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

Health conglomerate Kaiser notifies millions of a data breach
Google parent Alphabet announces first-ever dividend of 20 cents per share
Intel forecasts second-quarter revenue below estimates
T-Mobile raises forecast for subscriber additions on demand for its discounted plans
Snap beats first-quarter expectations with ad platform improvements
Crypto firm Consensys sues US SEC over Ethereum regulation
Warner Bros Discovery to launch data platform for better ad-targeting
Microsoft-backed Rubrik's stock jumps 21% in NYSE debut
Reddit back up after brief outage affected thousands globally
Amazon Prime Video to exclusively stream two NHL seasons in Canada

Others Also Read