Canon Reports Significant Growth for FY 2021

Canon Reports Significant Growth for FY 2021

According to Canon, it achieved significant sales and profit growth compared with last year, when both were down significantly due to the impact of COVID-19.

Some highlights include:

• Net sales turned out to be 4 billion (US$30.38 billion), up 11.2% year-over-year.
• Gross profit increased 18.3% year-over-year to 8 billion (US$14.08 billion).
• Operating profit was 9 billion (US$2.44 billion), up 155.0% year-over-year.
• Net income increased 157.7% year-over-year to 7 billion (US$1.86 billion).

Despite all the challenges, Canon claims that profit significantly exceeded the pre-COVID level of 2019, thanks to the past efforts to continuously improve business activities.

By segment, Printing net sales increased 7.4% year-over-year to JPY1938.8 billion (US$16.76 billion), while Printing operating profit increased 53.4% year-over-year to JPY225.7 billion (US$1.95 billion). Imaging net sales was JPY653.5 billion (US$5.65 billion), up 20.7% year-over-year, while Imaging operating profit registered to be JPY78.7 billion (US$680.44 million), up 1273.8% year-over-year.

For the 2022 financial projection, Canon expects continued high economic growth despite concerns about the spread of Omicron.

“In addition to putting all our efforts into product supply and linking this to sales, we will also

aggressively invest in the sales of new businesses to achieve JPY 1 trillion (US$8.65 billion) in new business sales for the first time. Overall, our aim is to grow sales 10.2% to JPY3870.0 billion (US$33.46 billion),” said the spokesman of Canon.

Canon also expects significant profit growth, including a 17.8% increase in operating profit to JPY332.0 billion (US$2.87 billion) and a 14.1% increase in net income to JPY245.0 billion (US$2.12 billion).

Related:

• Canon Reports Growth in Q3
• Canon Releases 2021 Interim Report
• Canon Reports Strong Growth in Q2
• Canon Reveals Full Year Results for 2020
• Canon Revised Results Forecast
• Canon Reports Mixed Q1 Results Due to COVID-19

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