PR: Canon 1st qtr 2019 financial report is a disaster

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MILC man Senior Member • Posts: 2,843
PR: Canon 1st qtr 2019 financial report is a disaster
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"The transformation of the business portfolio is progressing as we planned aligned with our mid-term direction. As a result, our company has changed itself from a traditional camera and office equipment oriented company to one that now has new business spheres... Raising new business ratio to 25% of total sales.

We are taking measures to shift our business focus toward B2B, expanding our business sphere to automotive and industry use.

...for interchangeable lens cameras, we saw rapid contraction of the DSLR camera market due to the rise of smartphones, and the overall market shrank as sales of [Canon] mirrorless cameras could not cover the drop. " https://seekingalpha.com/article/4256183-canon-inc-2019-q1-results-earnings-call-slides

1st qtr 2018 vs. 1st qtr 2019:
canon overall net income down -45%
canon overall operating profit down -48%
canon imaging system operating profit down -82% (!!!)

"As for price reduction, this reflect efforts to deal with the challenging business environment, mainly for DSLRs"

FY2019 entire year business projection: Imaging system operating profit down 26%

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