Canon Inc. (the “Company”), at a Board of Directors’ meeting, held on July 19, 2021, revised the consolidated results forecast for the fiscal year ending December 31, 2021, that it released on April 26, 2021, as follows.
Reason for Revision
In the second quarter of 2021, as was the case in the first quarter, sales of inkjet printers, which continue to be in high demand due to more people working and learning from home globally, grew strongly. Additionally, even amid restrictions on activities linked to the COVID-19 pandemic, interest in and demand for cameras increased, resulting in sales remaining strong in each region, particularly for full-frame mirrorless cameras and interchangeable lenses. The Company is also posting sales growth of other products, such as medical and semiconductor lithography equipment, thanks to favorable market conditions. Amid inflation caused by a shortage of goods, we expect the favorable market environment to continue in the second half of the year. Additionally, more people getting vaccinated is expected to bring the number of people commuting to offices back, resulting in print demand recovering in the office market. Based on these assumptions, the Company has revised its full-year consolidated results forecast.
This notice contains forward-looking statements with respect to future results, performance, and achievements that are subject to risk and uncertainties and reflect management’s views and assumptions formed by available information. All statements other than statements of historical fact are statements that could be considered forward-looking statements. When used in this document, words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project” or “should” and similar expressions, as they relate to Canon, are intended to identify forward-looking statements. Many factors could cause the actual results, performance, or achievements of Canon to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, the introduction of competing products by other companies, lack of acceptance of new products or services by Canon’s targeted customers, inability to meet efficiency and cost reduction objectives, changes in business strategy and various other factors, both referenced and not referenced in this notice. A detailed description of these and other risk factors is included in Canon’s annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. Canon does not intend or assume any obligation to update these forward-looking statements.
Revision of Consolidated Results Forecast for Fiscal Year Ending December 31, 2021
Millions of yen (except per share amounts)
| Net sales | Operating profit | Before Tax | Net Income | Per Share | |
| Previous 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 |
| Percent 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 |
As a previous Olympus owner, I know what can happen when finances aren't good, so this is really good to hear for Canon, and for my future with them! :)
lol that doesn't usually last long.
(Seriously, some people posted that stupidity in the past.)
As far as Olympus, it's really a shame that they went out of business. I think that they had the best designers of lenses as far as user interface, and their quality was superb. But they bet everything on a small sensor and also (from what I've heard) had some serious mismanagement of their finances.
Fuji Refocuses Away From Photography
I knew that Instax cameras were the best selling cameras in the world shortly after they were introduced, but this sounds like they continue to dominate the market.
This article makes me think that Fuji has found a niche in the photography market and as long as they are profitable (which they are) they aren't going to abandon the market. Not every company aspires to be Canon.
go to the financials. not some distilled article (least of all, fstoppers). the new financial report will be released on July 29. let's hope it's better but the last wasn't pretty. the imaging division doesn't really contribute to Fuji's financial line. If you take away the film portion of the imaging division, the digital camera business would be under water. Film can't save the digital part of the business forever.
And those other >2.500€ lenses! Which were before (EF) 1.000-2.000€. And also the cameras are more expensive then before some years…