"In the Imaging Business Unit, as for the interchangeable-lens digital cameras, unit sales increased due to steady sales of the EOS R6 Mark II full-frame mirrorless camera, EOS R7 and EOS R10 APS-C size mirrorless cameras released last year. The new entry-level EOS R50 and EOS R100 models, launched this year, were also well-received in the market. The market demand for some models even surpassed production capacity. Unit sales of lenses surpassed those of the same period of the previous year thanks to strong sales of RF-series interchangeable-lenses."
Double digit growth is massive in almost static market (+1% YoY) so the big question is which competitor(s) is dropping market share but ultimately it is about profit per model. I can only imagine that sales revenue and profitability will increase if Canon can remove their supply chain issues
The JPY has depreciated ~15% against the EUR but the Canon Europe pricing still remains high so there should be great profitability in that region
Imaging inventory value levels are up ~35% and increase of 20% in days of inventory for 1H YoY. That shows just how much supply chain issues for some items are impacting sales.
Imaging sales is up 15% and operating profit by 57% 2Q22 to 2Q23
Full year projection is higher than previously forecast with sales up by 14% and operating profit by 20%!!
They don't split out operating profit by camera vs industrial but sales is up 12% both for 1H and full YoY projection
The lithography equipment is also interesting with 195 units forecast for the full year => average value USD8.3m each.
Compare that to ASML with 50% gross profit and full year sales growth of 30% including higher demand from China even though export regulations restrict Chinese sales to older technology. Unit sales of ~500 in 2022. Highest price for latest gen tech is USD200m/machine but this could be list price that no one buys at.