Canon likely to double profit thanks to Toshiba acquisition, report

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.