* Canon Q4 operating profit 94.6 bln yen, up 14 percent
* Full-year profit 378.1 bln yen, vs 387.5 bln yen prior yr
* Forecasts 390 bln yen operating profit for 2012
TOKYO, Jan 30 Canon Inc forecast
weaker-than-expected earnings growth for 2012, citing worries
over a slowing global economy and a strong yen that are likely
to weigh on the export-dependent camera and printer maker's
The company also posted a slightly better-than-forecast 14
percent rise in fourth-quarter operating profit on
Like other Japanese exporters, Canon, which makes 80 percent
of its revenue overseas, has been buffeted by the strong yen and
the floods in Thailand, but it has emphasised it plans to
counter these challenges by cutting costs and increasing
"Owing to the historically high valuation of the yen
combined with the effects of the earthquake and floods, all of
Canon's businesses faced extremely demanding conditions
throughout the year," the company said in a statement.
Canon's operating profit for October-December was 94.6
billion yen ($1.23 billion), compared with 82.8 billion yen in
the same quarter of the previous year. Consensus expectations
were for a 92.4 billion yen profit, based on the average of five
estimates from analysts surveyed by Thomson Reuters I/B/E/S.
Operating profit for the full year to December was 378.1
billion yen, down from 387.5 billion yen in the previous year
but beating the average of 20 analyst forecasts for a profit of
372 billion yen.
It forecast a full-year operating profit of 390 billion yen
for the current year to December 2012, compared with
expectations of a 470 billion yen profit based on the average of
20 estimates by analysts surveyed by Thomson Reuters I/B/E/S.
Canon, which competes with Xerox in printers and
Nikon and Sony Corp in cameras, aims to sell
9.2 million interchangeable lens cameras and 22 million compact
cameras in the year to December, compared with 7.2 million and
18.7 million, respectively, last year.
Its shares have fallen about 18 percent since the start of
last year, slightly worse than the benchmark Nikkei average's
14 percent drop.
Xerox lowered its outlook for 2012 this month, on
expectations that the debt crisis in Europe would hurt its