• Kyodo

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Canon Inc. said Wednesday its group net profit for this business year is now projected to fall by 36.7 percent from a year earlier, citing weakening demand for cameras in the Chinese market.

Canon slashed its group net profit forecast for the year through December to ¥160 billion ($1.48 billion), compared with ¥200 billion it projected in April, noting also a slowing economy in Europe, amid concerns over a prolonged trade war between China and the United States.

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