Canon posts financial results for Q1/2011

This morning Canon Inc. has posted it’s first quarter results with a clear indication of the effect of the Great East Japan Earthquake on 11th March 2011 being shown in the figures. In several parts of the report there are figures with and without the ‘earthquake effect’ shown. Most clear is the 21.2 billion yen impact on the operating profit attributed to the earthquake, and enough to drive the operating profit below the figures for Q1/2010. Canon has also revised it’s full year forecast downwards with net sales revenue similar to 2010 but lower profit than 2010.

Canon reports information on the camera business within it’s Consumer Business and cameras are the majority of this business. Quite fortunately they also draw specific focus on the DSLR cameras within this segment. It’s clear that both units and value has increased compared to the same quarter last year while the consumer business is equal to the same quarter last year at 290 billion yen. However for the full year of 2011 the entire digital camera business including all the compacts and videocameras is expected to remain flat so the importance of the DSLR business is actually increasing. Specifically in the results there is mention that the DSLR business ‘continued to realise robust growth across global markets’. Keys for Canon have been the growth of the sales volumes in Asia, where the EOS 550D, EOS 60D and venerable EOS 5D Mark II have all been significant models for the company.

Canon Inc investor relations website has the results and the conference presentation to download as PDF files.

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