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Canon Q4 profit climbs YOY

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Canon Q4 profit climbs YOY

Canon Inc. said its fourth-quarter normalized net income came to ¥58.41 per share, a gain from ¥56.17 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥63.79 billion, an increase from ¥62.48 billion in the prior-year period.

The normalized profit margin climbed to 6.1% from 5.9% in the year-earlier period.

Total revenue decreased on an annual basis to ¥1.043 trillion from ¥1.060 trillion, and total operating expenses declined year over year to ¥935.60 billion from ¥961.47 billion.

Reported net income increased from the prior-year period to ¥68.91 billion, or ¥63.10 per share, from ¥68.10 billion, or ¥61.20 per share.

For the year, the company's normalized net income totaled ¥188.66 per share, compared to ¥204.50 in the prior year.

Normalized net income was ¥206.02 billion, a decline from ¥227.51 billion in the prior year.

Full-year total revenue grew on an annual basis to ¥3.800 trillion from ¥3.727 trillion, and total operating expenses grew on an annual basis to ¥3.445 trillion from ¥3.364 trillion.

The company said reported net income declined year over year to ¥220.21 billion, or ¥201.65 per share, in the full year, from ¥254.80 billion, or ¥229.03 per share.

As of March 1, US$1 was equivalent to ¥113.63.