Barclays says: Because of the earthquake earnings will be 27 percent lower!
Doh! Barclays”predicts” that “Canon’s earnings this year will probably be 27 percent lower than previously estimated after last month’s earthquake and tsunami in Japan damaged factories and choked supply of components“. The cause are the “extensive damage at Canon’s plant in Utsunomiya, Tochigi prefecture, and difficulty in getting parts and materials will likely pressure production of cameras, lenses, copiers and chip- making equipment“.
And if the Fukisuhima power plant will be fixed than “production will probably return to normal from the quarter starting in July“.
Let’s cross the finger…