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Canon's Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: CAJ

Please refer to Slide 8. This slide summarizes our revised projection for the full year.

Please turn to Slide 9. I’ll now compare our current projections with our previous forecast. Changes in the exchange rate assumption had a negative impact on projected net sales and operating profit. As for changes in projected sales volumes, this had a negative impact on all segment and reflects our cautious outlook for the economic environment.

In view of the recent market trend, we revised our plan for laser printers with in our office business unit, and mainly compact and digital cameras in imaging systems. In the other categories some positive figures on the net sales represent this strange price decline. The positive figures on the operating profit represent this strange price decline and the comprehensive effort to streamline expenses.

As forecasted reductions due to rendering effect from the Thai flood in the second quarter and the impact of projected lower production volumes we revised our projection from 90 billion to 70 billion.

Please refer to Slide 10. I will now discuss each business unit starting with Office. In the second quarter, the copier market continued to gradually expand in the United States and Japan. In emerging market, office related demand continued to drive market expansion. In Europe, however, we saw weakness due to economic stagnation. Among this market environment, we look to expand copier sales enhancing our imageRUNNER ADVANCE series line up with new monochrome model.

We also made good progress in expanding sales of A4 monochrome models in market outside Japan. As a result, we achieved positive growth in all regions for both monochrome and color copiers and recoveries in market shares. In total, second quarter net sales of copiers increased 12.2% in a local currency basis. In yen terms, this increased 6.4%.

Read the rest of this transcript for free on seekingalpha.com

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