A shopper looks at ink cartridges from Canon Inc. at a shop in Tokyo, Japan October 27, 2010. REUTERS/Issei Kato/File Photo
TOKYO: Canon chopped its annual profit forecast on July 26 as the camera and copier maker warned that a sharp rise in the yen was taking a bite out of its bottom line.
The company said it now expected weaker sales and a net profit of 180bil yen (RM7.01bil) this year, down 10% from a previous forecast that had also been downgraded due to slowing growth in China and a pickup in Japan’s currency.
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