Canon says yen's slide softened blow of weak 2013 camera sales

Reuters News
Posted: Jan 29, 2014 1:25 AM

TOKYO (Reuters) - Japanese camera and printer maker Canon Inc expects revenue to grow 3.2 percent in 2014 as it banks on the yen weakening further this year and economic conditions improving in the United States and Europe, its biggest market.

Canon said revenue grew 7.2 percent in the year ended December 31, when it logged an operating profit of 337.3 billion yen for the year ended December 31, 4.1 percent higher than a year earlier.

That was below expectations of an operating profit of 353.50 billion yen, the average of 23 analyst estimates, according to Thomson Reuters Starmine.

(Reporting by Sophie Knight; Editing by Kenneth Maxwell)