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Canon (7751) investor relations material
Canon Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary24 Jul, 2025
Executive summary
Markets remained stable, but performance was significantly impacted by yen appreciation compared to the same period last year.
New products drove growth in camera sales; network camera sales grew nearly 20%, and medical posted strong sales growth.
Second quarter net sales decreased by 2.4% year-over-year to ¥1,140.2B, while first-half net sales rose 2% to ¥2,198.6B, the highest since 2007.
Profits increased by 8% in 1H and 20% in local currency, reflecting improved profitability.
Basic EPS for Q2 was ¥92.05; first-half EPS was ¥169.16, both up year-over-year.
Financial highlights
2Q 2025 net sales ¥1,140.2B, down 2.4% year-over-year; up 2% in local currency.
2Q operating profit ¥117.8B, down 0.5% year-over-year; up 17.6% excluding FX impact.
2Q net income ¥83.7B, down 6.9% year-over-year; 1H net income ¥155.9B, up 4.1% year-over-year.
Gross margin for 2Q at 46.9%, slightly lower than 47.2% last year; operating expense to sales ratio improved to 36.6%.
1H 2025 net sales ¥2,198.6B, up 2% year-over-year; operating profit ¥214.3B, up 8%.
Outlook and guidance
Full-year 2025 net sales projected at ¥4,600B (+2% year-over-year), operating profit ¥460B (+3.4%), net income ¥330B (+1.5%).
Guidance revised downward due to U.S. tariffs, global economic uncertainty, and postponed investments.
Dividend per share forecast for 2025 is ¥160, targeting a 50% payout ratio.
Aiming for operating profit ratio of 10% and raising dividend by ¥5 to ¥160 for the year.
Assumes U.S. tariffs remain at 10% through year-end.
What is the assumed impact of US tariffs on 2025 forecast?
Why did H1 operating cash flow decline?
What factors caused the equity ratio decline?
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Q3 202527 Oct, 2025
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Frequently asked questions
Canon Inc. is a Japanese multinational corporation specializing in imaging and optical products. The company develops and manufactures a wide range of products, including cameras, camcorders, printers, scanners, and medical imaging equipment. Canon is also known for its office solutions, offering printers, copiers, and document management systems for businesses. In addition to consumer and office products, Canon provides industrial equipment such as semiconductor lithography systems and broadcast lenses, serving various sectors from photography and healthcare to industrial manufacturing. The company is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.
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