Robust March Quarter results Is a Positive Factor for Canon, but Upside is Limited on Share Price
Canon reported JPY 75.7 billion operating income for the March quarter, which was above our forecast of JPY 51 billion and market expectations of JPY 45 billion. We consider that there were two major reasons for the strong numbers: 1) operating margins for the office and imaging system segments were above our forecast, because of the larger contribution of new product lineups on copiers, ink jet printers, and DSLR cameras; and 2) the contribution of Toshiba medical systems corporation, acquired ...
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