Canon’s lower earnings in Q2

TOKYO (Reuters) – On Monday Canon Inc reported a 30.9% decline in operating profit in the second quarter that it blamed disruptions in its supply chain caused by the consequences of the earthquake Japan in March.

The manufacturer of cameras, however, raised its annual profit forecast of 335 billion yen to 380 billion (from 2.97 to 3.37 billion euros). He had lowered as a result of the disaster.

From April to June, Canon has released an operating profit of 78.4 billion yen, higher than the expectations of six analysts polled by Thomson Reuters I / B / E / S, which on average had forecast 55.9 billion.

A year earlier, operating income of the Japanese group had risen to 113.4 billion yen.

For the year, consensus, based on the average forecast of 18 analysts expected 365 billion yen.

Canon said its production had returned to normal at the end of the quarter after being forced to lower it to three million units in the weeks following the earthquake.

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