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Canon announces financials and Director change

January 31, 2019

The OEM has unveiled its results for Q4 and the fiscal year ending 31 December 2018, as well as announcing a change of Director.

Canon’s Q4 2018 net sales were reported at ¥1.05 trillion ($9.6 billion/€8.4 billion), a decrease of 5.5 percent from the same quarter in 2017.

Operating profit for Q4 2018 was given as ¥99.5 billion ($915.9 million/€797.3 million), an increase of 30 percent from 2017.

Consolidated net come for Q4 2018 was cited at ¥75.7 billion ($696.8 million/€606.6 million).

For the fiscal year ending 31 December 2018, Canon reported net sales of ¥3.9 trillion ($35.9 billion/€31.2 billion), a decrease of 3.1 percent from the same period ending 31 December 2017. It’s projected net sales for the FY ending 31 December 2019 are also ¥3.9 trillion ($35.9 billion/€31.2 billion).

Operating profit for the FY ending 31 December 2018 was ¥342.9 billion ($3.1 billion/€2.7 billion), a rise of 6.6 percent from the same time in 2017. Projected operating profit for the end of 2019 is ¥325 billion ($2.9 billion/€2.6 billion).

The company explained that, in terms of markets, “office multifunction devices (“MFDs”) and laser printers enjoyed solid demand due to the shift from monochrome to colour models and robust demand in emerging markets.”

The OEM continued, “During 2018, unit sales of office MFDs increased compared with the previous year due to the expanded sales of colour models, mainly outside of Japan. Additionally, unit sales of both monochrome and colour laser printers increased compared with the previous year, supported by the steady sales of newly launched models. Total sales volume of interchangeable-lens digital cameras decreased compared with the previous year due to contraction of the market mainly for entry-class models. However, sales of mirrorless cameras increased. Looking at inkjet printers, although sales unit of refillable ink tank models increased in emerging markets, unit sales overall decreased compared with the previous year, due to decreasing demand in developed economies.”

Going by segment, Canon said, “Looking at Canon’s full-year performance by business unit, starting with the Office Business Unit, unit sales of office MFDs increased from the previous year, thanks to expanded sales of such colour models as the imageRUNNER ADVANCE Gen3 2nd Edition series, which enhances convenience through compatibility with external cloud services, and the imageRUNNER C3020 series of strategic models for emerging markets. As for laser printers, sales of hardware increased from the previous year, supported by steady sales mainly of new models that achieve low power consumption, compact body designs and high productivity. Sales of consumables remained at the same level as the previous year.”

Finally, looking ahead to the rest of the year, Canon said, “In the businesses in which Canon is involved, for office MFDs, colour models are expected to grow steadily. Overall demand for laser printers is expected to remain at the same level as that of the previous year, supported by the trend of shifting from monochrome to colour models and increasing demand in emerging markets.” The OEM added, “With regard to inkjet printers, demand is expected to continue to decrease slightly from the previous year.”

As well as revealing its financial results and predictions, Canon also took the opportunity this week to announce a change in its Board, saying that it had approved an alteration of the company’s Representative Directors at the Board meeting held on 30 January 2019.

Shigeyuki Matsumoto, who serves as Representative Director, Executive Vice President and CTO, will be retiring from his position effective 28 March 2019.

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