Canon reports record net profits for fiscal 2007

Canon Inc., Tokyo, Japan, reported consolidated net sales for its FY07 ended December increased 7.8 percent year-on-year to ¥4.48 trillion (US$40 billion), operating profit rose 7 percent to ¥756 billion (US$6.87 billion). Net profit was up 7.2 percent to ¥488.3 billion (US$4.44 billion).

Sales of the camera business segment grew 10.6 percent to ¥1.15 trillion (US$10.4 billion) and operating profit rose 14.4 percent to ¥307 billion (US$2.79 billion). Within the camera segment, sales of digital cameras increased 13.3 percent while sales of interchangeable lenses grew 11.8%. Sales quantity of digital cameras increased 17 percent to 24.6 million units. The ratio of DSLR cameras among all digital cameras were 13 percent, or 3.2 million units on a unit basis, and 38% on a value basis.

Total sales of the office equipment segment were up 9 percent to ¥2.936 trillion (US$26.7 billion) and operating profit was ¥650 billion (US$5.9 billion) or up 8.5 percent. Sales of its computer peripheral devices including inkjet printers among the total sales of the office equipment business segment were ¥1.538 trillion, up 9.9 percent.

At the same time, Canon announced its forecast for fiscal year 2008. Group total sales are expected to be ¥4.72 trillion (US$42.9 billion), up 5.3 percent and operating and net profits are estimated to be ¥800 billion (US$7.27 billion), up 5.7 percent, and ¥520 billion (US$4.72 billion), up 6.5 percent, respectively. Total sales of its camera business segment are forecasted to be ¥1.233 trillion ($11.2 billion), up 6.9 percent. On a unit basis, Canon intends to boost digital camera sales in 2008 by 20 percent to 29.4 million units.