Canon Cuts Full-Year Operating Profit Forecast to 456 Billion Yen

Canon has revised its operating profit forecast for the fiscal year 2024 down to 456 billion yen, updating its previous expectations lower. The revision is attributed to factors such as global economic uncertainties and foreign exchange fluctuations. Weak demand in Canon's printer and camera segments has negatively impacted profit margins. The company highlighted the slowdown in the office equipment market as a particular drag. Additionally, demand for semiconductor equipment has been weaker than anticipated. The new forecast marks a decline of approximately 8.8% compared to the previous target of 500 billion yen. Canon plans to offset this downturn through cost control and operational efficiency measures. While announcing its third-quarter results, the company indicated it also expects some contraction in net sales revenue. However, it announced it will continue investments in medical and industrial imaging fields, which hold long-term growth potential. This is not investment advice.

📊 9988.HK — Piyasa Yorumu

▼ down · 60%

Canon's downward revision of its profit forecast may be interpreted as a signal of weak demand in the technology and manufacturing sectors. This could increase selling pressure on technology stocks such as Alibaba. The stock is trading below its 50-day moving average, and the MACD is in negative territory, indicating short-term weakness. The RSI being in neutral territory suggests that the decline may continue but is not yet oversold. The 3% drop in the last 24 hours suggests that the negative news is beginning to be priced in.

RSI 14

50.2

MACD

-0.44

24h Δ

-3.16%

Canlı Grafikler