Canon Business General

Canon Q3 Operating Profit Nearly Halves on Post-Brexit Yen Strength

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Canon has released their Q3 2016 financials and they’re still making money, just not as much as they’d like to be.

From Reuters:

Oct 26 Japan’s Canon Inc said on Tuesday its third quarter operating profit fell 48 percent, hurt by a strengthened yen following Britain’s vote to leave the European Union.

Operating profit for the three months ended Sept. 30 declined to 40 billion yen ($383.62 million) from 77.3 billion yen a year earlier. Five analysts surveyed by Thomson Reuters estimated an average third quarter operating profit of 58.3 billion yen.

The world’s biggest maker of cameras and printers also lowered its operating profit forecast for the year through December to 235 billion yen from a 265 billion yen estimate in July. ($1 = 104.2700 yen) (Reporting by Tim Kelly; Editing by Muralikumar Anantharaman)

Financial Reports by Canon Inc (found at TDP)

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