Canon expects first drop in operating profit since 2016 on slower China

Canon expects first drop in operating profit since 2016 on slower ChinaJapan's Canon Inc expects its annual operating profit to drop for the first time in three years, as a Chinese economic slowdown and a stronger yen hit sales of cameras and panel-making equipment. The camera and printer manufacturer on Wednesday forecast an operating profit of 325 billion yen ($2.97 billion) for 2019, down 5.2 percent from 342.95 billion yen a year earlier - the first decline since 2016. "We are bracing for a number of risk factors this year, including Sino-U.S. trade frictions, an economic slowdown in China and emerging markets, as well as Brexit-driven political turmoil in Europe," Chief Financial Office Toshizo Tanaka said.




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