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September 12, 2005 – Canon is likely to post better than expected financial results this year, including an 11 percent increase in profits, according to a report by the Japanese business paper Nihon Keizai.
The paper projected that Canon’s net profit will reach a record 380 billion yen ($3.48 billion) on strong sales of the company’s DSLR cameras. Canon had projected year-end profit at 367 billion yen.
While Canon, in a statement made to Reuters, acknowledged that sales of digital cameras have been doing well, the company said that the figures are the paper’s estimate.