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Canon sees sales growth in second quarter

Canon sees sales growth in second quarter

July 28, 2021

The OEM has released its second quarter 2021 results, recording a year-on-year sales increase of 31% in the reporting period.

Overall Canon Inc. recorded net sales of ¥881.9 billion ($8.02 billion/ €6.79 billion) which the company said has exceeded its plan by generating operating profits above ¥70 billion ($637 million/ €539 million). Net sales increased year-on-year 31% from the previous net sales of ¥673.3 billion ($6.12 billion/ €5.18 billion) in Q2 of 2020.

The printing business unit posted net sales growth of 24.5% year-on-year with ¥489.6 billion ($4.45 billion/ €3.77 billion), out of which the office printing segment recorded sales of ¥193.8 billion ($1.76 billion/ €1.49 billion).  Operating profit for the whole printing business unit soared at ¥63.8 billion ($580 million/ €491 million), a 252.3% growth year-on-year.

For the full year 2021 Canon strives to expand sales of new series of medium- to high-speed MFDs amid expectations that offices will re-open from second half, and service revenues will recover to 90% of pre-COVID-19 level by year end.

In the prosumer segment, Canon recorded strong sales of products for home use, which consisted mainly of inkjet printers. Sales in this segment for the second quarter 2021 were ¥224.2 billion ($2.04 billion/ €1.73 billion), a year-on-year increase of 17.7%.

Categories : City News

Tags : Business Canon Inc. Financials OEM

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