Canon Q4 Net Profit Rises, Operating Income Down; Sees Higher FY22 Results; Stock Dips

(RTTNews) - Digital camera maker Canon Inc. (CAJ) reported Thursday that its fourth-quarter net income attributable to the company grew 11.6 percent to 59.80 billion Japanese yen from last year's 53.59 billion yen.

Income before income taxes, meanwhile, fell 10.8 percent 71.56 billion yen, and operating profit declined 1.1 percent to 75.36 billion yen.

Net sales edged up 1 percent to 955.45 billion yen from 945.74 billion yen a year ago.

Looking ahead for fiscal 2022, Canon projects attributable net income of 245.0 billion yen, a year-on-year increase of 14.1 percent. Income before income taxes is expected to be 360.0 billion yen, up 18.9 percent, and operating profit would be 332.0 billion yen, up 17.8 percent.

Full-year consolidated net sales are expected to be 3.87 trillion yen, a year-on-year increase of 10.2 percent.

In Japan, Canon shares were trading at 2,775.50 yen, down 1.18 percent.