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Canon revises results forecast for FY 2021

Canon revises results forecast for FY 2021

July 19, 2021

The OEM has announced a revision to its consolidated results forecast for the fiscal year ending 31 December 2021.

Canon said that in the second quarter of 2021, as was the case in the first quarter, sales of inkjet printers, which continue to be in high demand due to more people working and learning from home globally, grew strongly.

The company added: “. Amid inflation caused by a shortage of goods, we expect the favourable market environment to continue in the second half of the year.”

Previous net sales forecast for the fiscal year ending 31 December 2021, was ¥3,500 billion ($32 billion/ €27 billion) and has now been revised upwards to ¥3,600 billion ($33 billion/ €28 billion), an increase of 2.9%.

Canon expects that as more people are getting vaccinated it is expected to bring the number of people commuting to offices back, resulting in print demand recovering in the office market.

Based on these assumptions, the company has revised its full-year consolidated results forecast.

Categories : City News

Tags : Canon Inc. Financials Forecast OEM

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