Canon Raises FY21 Financial Outlook Following Continued Demand Printers, Cameras, Other Equipment

Canon Inc CAJ increased its FY21 financial estimates due to continued higher demand for inkjet printers in Q2, including, cameras particularly for full-frame mirrorless cameras and interchangeable lenses, medical and semiconductor lithography equipment.
It expects the favorable market environment to continue in the second half of the year despite the crisis-induced inflation. It expects higher print demand as more people resume office following vaccination.
It sees a net sales of ¥3.6 million, up from ¥3.5 million.
The company increased the operating margin guidance by 220 basis points to 7.9%.
It raised the EPS guidance from ¥133.89 to ¥192.23.
Price action: CAJ shares traded higher by 1.76% at $23.08 in the premarket session on the last check Monday.