April 24, 2014 / 6:43 AM / in 4 years

Canon nudges up profit forecast on higher office equipment sales

TOKYO (Reuters) - Canon Inc (7751.T) raised its full-year operating profit target by a slight 1.4 percent after strong sales of office copiers and printers in the first quarter.

A logo of Canon Inc is pictured on a Canon EOS Kiss X50 displayed at an electronics store in Tokyo October 23, 2012. REUTERS/Yuriko Nakao

Canon, the world’s biggest camera maker, said in its quarterly earnings statement it expects an operating profit of 365 billion yen ($3.56 billion) for the year to December 31, a slight increase from its previous forecast of 360 billion yen.

Its office equipment sales rose 9.7 percent in the January-March quarter.

Canon posted an 82.6 billion yen operating profit for the January-March quarter, a 51 percent increase on the year. That compared to expectations of 68.6 billion yen, the average of six analysts’ estimates according to Thomson Reuters’ StarMine.

Reporting by Sophie Knight; Editing by Edmund Klamann and Miral Fahmy

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