Tough Competition a Concern for Canon, but Dividend Will Support Shares
Canon cut its operating income guidance again for fiscal 2018 from JPY 378.5 billion to JPY 335.5 billion, as: 1) sales of interchangeable lens cameras, or ILCs, were below its expectation; and 2) some order of lithography equipment is postponed to the next year because of the delay on semiconductor investment. While we had mentioned in our previous note that Canon’s guidance on the imaging system segment is too optimistic, the reduction was larger than we had anticipated. Therefore, we cut our ...Canon and its subsidiaries are engaged in the manufacture and sale of office multifunction devices, plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Co. sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory. As of Dec. 31, 2017, Co.'s manufacturing is conducted primarily at 30 plants in Japan and 18 plants overseas. Co. operates its business in four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.
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