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Canon Net Profits Are Expected To Rise By 20% In 2022

The camera maker, Canon, is in the hope of securing a total net profit of around 250 billion yen, or $1.9 billion in the 2022 financial year.

Canon Net Profits Are Expected To Rise By 20% In 2022

Strong predictions for better earnings in security cameras and semiconductor lithography equipment have left Canon in the hope of securing a total net profit totalling around 250 billion yen, or $1.9 billion in the 2022 financial year. This would mean a 20% increase for the Japanese camera makers. 

This amount surpasses the projections declared by Canon in their January statement by around 5 billion yen. The company is figuring out inventive ways to reduce operating costs and raise the cost of products amidst the rise in prices of raw materials due to inflation. 

Reports suggest that total sales are going to witness a 10% bump or around 100 billion yen more when compared to earlier projections. Some analysts predict reaching a total of 4 trillion yen. Canon is yet to make a formal declaration. However, the financial result announcement scheduled for Tuesday might be the stage for declaring this revised projection. 

Canon will gain see an increment of 4 billion yen in operating income for depreciation of 1 yen against the USD. The presumed rate of exchange was 112 yen to one USD at the beginning of the term. Reports suggest that Canon is re-evaluating this difference based on the ongoing exchange rate movements. 

Due to an investment splurge by semiconductor manufacturers, the marginal sales of the semiconductor lithography equipment are bound to grow. Improvements in physical office attendance will lead to an increase in the demand for printers, which will further drive the demand for accessory consumables like toner, cartridges, and inks. 

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