Canon cuts full-year profit outlook on sluggish China, Southeast Asia demand

Reuters News
|
Posted: Oct 27, 2015 3:02 AM

Tokyo (Reuters) - Japan's Canon Inc <7751.T> on Tuesday lowered its full-year earnings forecast, citing slower-than-expected demand for digital cameras in China and Southeast Asian countries.

The world's biggest maker of cameras and printers said it now expected group operating profit of 365 billion yen ($3.02 billion) for the year ending in December, down from the 380 billion estimated three months earlier.

It also revised its sales forecast to 3.8 trillion yen from 3.9 trillion yen.

The company said it would take time for demand in China and other emerging markets to recover from current sluggishness.

An executive at an earnings briefing said the number of uncertainties makes it difficult to predict recovery, but that future economic stimulus could eventually boost demand in China.

(Reporting by Makiko Yamazaki; Editing by Christopher Cushing)