Canon net profit fell 9.7% last year

Kyodo

Canon Inc. said Wednesday its group net profit for the business year that ended in December dropped 9.7 percent to ¥224.56 billion due to the global economic slowdown, the strong yen and weakening demand in China.

It said its consolidated operating profit fell 14.3 percent to ¥323.86 billion on sales of ¥3.48 trillion, down 2.2 percent.

For this year, Canon said it expects to post a group net profit of ¥255 billion, up 13.6 percent from fiscal 2012, on sales of ¥3.81 trillion, up 9.5 percent.