Canon Inc. (CAJPY) on Thursday reported weaker first-quarter results, with lower profit despite a modest increase in sales.
Profit before tax fell to 74.744 billion yen from 98.845 billion yen in the same period last year.
Operating profit declined to 71.370 billion yen from 96.517 billion yen previously.
Profit attributable to Canon was 48.303 billion yen, compared with 72.231 billion yen a year earlier.
Net sales rose 3.3% to 1.0937 trillion yen from 1.0584 trillion yen last year.
For the full year, the company expects net income attributable to Canon to reach 333 billion yen, up 0.3%, with earnings per share of 388.42 yen. Net sales is forecast to rise 3% to 4.765 trillion yen.
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