Canon: between a rock and a hard place
As a Japanese company, Canon is facing the frustrating situation of facing a combination of a long-stagnating domestic economy, a very high yen, and, like any other company, pressure to increase sales and profits. Unfortunately, the rising yen, according to wsj.com, will lower sales by about 200 billion yen, forcing Canon, which gets 75% of its sales from abroad, to cut costs and moving production overseas, which is not good for the Japanese economy. As is, Canon's profits for 2010 are expected to be 245 billion yen on sales of 3.71 trillion yen. The much higher profits are attributed to Canon's strong performance in printers and dSLRs. [See wsj.com article] -- Posted Wednesday, October 27, 2010 by chb