Canon has revealed a 9.3 per cent drop in Q3 operating profit on weak sales of its chip-making equipment, although the company has raised its outlook for the full year.
Group operating profit was down to ¥143.57 billion ($1.24 billion), from ¥158.3 billion a year earlier. But Canon raised its full-year forecast for group operating profit to ¥587 billion, due to a recent weakening of the yen.
The loss was the firm’s first year-on-year fall in profit in seven quarters.
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