16 December 2004 – Tokyo (JPN): Canon is expected to achieve a net profit of Â¥370 billion ($3.6 billion) in 2005, hitting a record high for the sixth straight year, according to a report by Japanese news agency Jiji Press.
The figure, which would be up 10 per cent from 2004, is said to be down to solid demand in the company’s network-related equipment, colour laser printers and digital cameras.
Group sales in 2005 are estimated to rise 7 per cent from 2004’s levels to Â¥3.7 trillion.
Despite this, Canon will have to bear the brunt of rising material prices, which are expected to impact earnings over the coming year.
Net profit for 2004 is projected at Â¥339 billion, up 22.9 per cent from 2003.