Canon slashes profit outlook on sales dip

CANON yesterday slashed its annual profit forecast, as it warned that a slowdown in emerging economies and a strong yen were taking a bite out of the bottom line. The camera and copier maker also said that nine-month sales and profit figures tumbled from a year ago. JanuarySeptember net profit dropped 30 percent to 105.8 billion yen, while sales were off 11 percent from a year ago, it said, adding that it expects full-year bottom line to shrink by one-quarter to 165 billion yen ($1.58 billion), with sales and operating profit to be lower than the previous year.