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Canon likely to double profit thanks to Toshiba acquisition, report

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Canon’s acquisition of Toshiba Medical System said to contribute by 70% to the gain.

Nikkei Asian Review reports:

TOKYO — Canon probably saw its group operating profit roughly double on the year in the January-March quarter to about 80 billion yen ($733 million), thanks to successful acquisitions and strong overseas sales of cameras and printers.

Sales apparently grew 20% to just over 950 billion yen. Official quarterly results are due out Wednesday.
Toshiba Medical Systems, which Canon bought last year for 665.5 billion yen, is believed to be responsible for about 70% of the profit boost. Past acquisitions, including commercial printer and surveillance camera makers in Europe, probably also posted strong results.
Read the report at Nikkei.

  • DouglasGottlieb

    Great. Now spend just a little bit of all that profit on developing A7 and A9 competitors

    • Rick

      Canon: have you noticed our 1DX Mark II that is a weathersealed battle hardended monster of camera, and our 5D series of cameras?

      • DouglasGottlieb

        Yes! I can see them very clearly. They are completely on obstructed because there is no compelling mirrorless camera to block the view. And even if there was a mirrorless camera in front of them, I would still be able to see three quarters of their massive bodies towering out from behind.

        Seriously though. These are great cameras. DSLRs will have a place for a very long time. But that doesn’t mean that Canon should not start moving towards a future. And the future will be mirrorless.

  • Rick

    I guess this means canon isn’t going under tomorrow like many thought after the A9 announcement?

    will be interesting to see the ILC side how well they did last quarter. Sony’s announcements on the 28 should be equally as interesting.

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