Canon and Nidec Corona impact also revised upward earnings forecast for the current fiscal year October 26, 18:57
Canon, a major precision equipment maker, and Nidec, a major electronic component maker, have revised their earnings forecasts for the current fiscal year upward, saying that there are signs of a recovery in the global economy, which has been depressed due to the effects of the new coronavirus.
On the 26th, Canon announced the financial results of the entire group for the nine months up to last month.
Sales decreased 16.1% from the same period of the previous year to 2,214.5 billion yen.
The final profit decreased by 67.8% to 29.7 billion yen.
However, the rate of decrease has narrowed compared to the interim results, and during the three months up to last month, economic activities have resumed in each country, and sales of multifunction devices have recovered.
Along with this, the outlook for the final profit for the year has been revised upward to 52 billion yen, 9 billion yen higher than before.
In addition, Nidec announced its six-month financial results up to last month, with sales of 751.7 billion yen, up 0.1% from the same period of the previous year, and operating income of 69.1 billion yen, up 12%.
Demand for parts for automobiles, which had fallen due to the impact of the new coronavirus, has recovered, and sales of motors used in notebook computers have increased.
Along with this, the sales outlook for this fiscal year has also been revised upward to a record high of 1,550 billion yen, and there are signs that the performance of major manufacturing industries will pick up.