Canon Releases Consolidated Results for Fiscal Year 2022
For the fiscal year 2022 ended December 31, 2022, Canon net sales increased 14.7% year-on-year to JPY¥4,031.4 billion (US$31.0 billion) due to adjustment of product prices and depreciation of the yen. Canon claims that it’s the first time in 5 years that its net sales surpass 4 trillion yen (US$30.8 billion).
Some other highlights include:
- Gross profit increased 12.3% year-over-year to JPY¥1827.8 billion (US$14.1 billion)
- Operating profit increased 25.4% year-over-year to JPY¥353.4 billion (US$2.7 billion)
- Net income increased 13.6% year-over-year to JPY¥244.0 billion(US$1.9 billion)
By segment, Canon claims it achieved significant improvement in Imaging and Industrial profitability in the fiscal year 2022. In the Printing segment, net sales increased 16.7% year-over-year to JPY¥2261.9 billion (US$17.4 billion), while operating profit decreased 6.1% year-over-year to JPY¥212.0 billion (US$1.6 billion).
Despite the outlook for a slowdown in economic growth, Canon claims that there is sustained momentum in its related markets. For the fiscal year 2023, Canon predicted net sales to be JPY¥4287.0 billion (US$33.0 billion), up 6.3% year-over-year compared to the actual net sales in the fiscal year 2022. In addition, Canon predicted gross profit to increase 7.8% year-over-year to JPY¥1970 billion (US$15.1 billion), while operating profit to increase 1.9% year-over-year to JPY¥360 billion (US$2.8 billion).
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