Canon may lift its profit forecast for 2009 by nearly 13 percent. According to Reuters, the Japanese corporation is going to post an operating profit for the first quarter, and may revise its annual profit forecast upward by 12.5 percent. The news agency bases this assumption on a report by the Nikkei business daily, which says strong SLR sales and a weaker-than-expected yen have boosted profits in the January-March period to about 30 billion yen. Analysts have been estimating a loss of 18.7 billion yen for the first quarter, Reuters says. A profit of 30 billion would thus be a great surprise, even if it still represents an 82% drop against the same period of last year, blamed on Canon’s ailing core business of manufacturing printers, copiers and lithography equipment.

Website: Reuters

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