Canon Reports Q2 Earnings

On July 27, Canon reported its financial results for the second quarter and first half of its fiscal year 2015. Net sales for the quarter were 974.4 billion yen, a year-over-year increase of 5.1 percent, while net sales for the first half were up 2 percent year over year to 1.832 trillion yen.

In its review of its second quarter, Canon said “Looking back at the global economy in the second quarter of 2015, the U.S. economy continued recovering smoothly as employment conditions and consumer spending steadily improved. In Europe, although the U.K. and Germany showed signs of economic recovery, the Russian economy remained stagnant. The pace of economic expansion in China gradually declined while Southeast Asian countries faced slowdowns owing to local currency depreciation. As for the Japanese economy, improvement was seen in the corporate sector and employment conditions continued to recover. As a result, the global economy overall continued to realize moderate growth.

“As for the markets in which Canon operates amid these conditions, demand for office multifunction devices (MFDs) and laser printers maintained steady growth, mainly for color models, while demand for semiconductor lithography equipment also increased, fueled by continued customer investment. As for cameras, demand continued to decline both for interchangeable-lens digital cameras and digital compact cameras. Additionally, demand for inkjet printers also decreased from the previous year due to sluggish market conditions in Southeast Asian countries.”

Read Canon’s full earnings report here and see the earnings presentation here.