Canon Lowers Full-Year Earnings Forecasts After Earthquake
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Canon Inc., the world’s largest maker of cameras, cut its annual profit and sales forecasts after Japan’s March disaster disrupted production.
Net income in the year ending in December will probably fall 11 percent to 220 billion yen ($2.7 billion), Tokyo-based Canon said in a statement today, abandoning its previous forecast for a 26 percent increase. Canon also cut its projections for operating profit and revenue.