Canon raises 2010 sales target to 6 trln yen

Tokyo, Oct 30: Camera and office equipment maker Canon Inc said on Tuesday it had raised its midterm sales target by 9 percent due to strong demand for its digital cameras, laser printers and colour multi-functional printers.

Canon now aims to achieve consolidated sales of 6 trillion yen ($52.3 billion) in calendar 2010, up from its previous target of 5.5 trillion yen.

The new target would be up 32 percent from Canon's own sales forecast of 4.56 trillion yen for 2007.

The Tokyo-based company also aims for a net profit margin of 10 percent or more in 2010, effectively targeting a net profit of 600 billion yen or more.

Canon forecast a net profit of 500 billion yen for 2007.

Reuters>