Canon Reports Good Quarter

Canon Inc. reported Q3 net profits of ¥63.1 billion ($556 million), a leap of 159% from ¥24.4 billion ($215 million) a year earlier, on turnover of ¥994.5 billion ($8.8 billion), up 28% from ¥778.8 billion ($6.9 billion). For the first three quarters there were profits which went up 77% to ¥187.3 billion ($1.7 billion) from ¥105.8 billion ($933 million), on sales of ¥3.0 trillion ($26.1 billion), up 21% from ¥2.4 trillion ($21.5 billion). The company said that it saw improvements in the USA, Europe, China and Japan.

The company said that sales of FPD lithography equipment and manufacturing equipment for OLED displays significantly exceeded those of the previous year, thanks to favourable market conditions created by increased demand for OLEDs in smartphones.