CANON INC. | |||||
(Registrant) | |||||
Date.... January 28, 2009.... | By | ....../s/...... Masashiro Kobayashi.................. | |||
(Signature)* |
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Masashiro Kobayashi General Manager Global Finance Management Center Canon Inc. |
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1. | Notice Regarding Revised Financial Forecasts for Subsidiary | |
(e-System Corporation) |
Based on recent performance trends, e-System Corporation revised its consolidated and non-consolidated financial forecasts, announced on October 22, 2008, as follows.
1. | Revised consolidated financial forecasts |
Fiscal year ended December 2008 (January 1, 2008 to December 31, 2008) Consolidated financial forecasts |
Net sales |
Operating profit |
Ordinary profit |
Net income |
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Previous forecast (A) |
5,860 | 100 | 120 | 35 | ||||||||||||||||||
Current forecast (B) |
5,894 | 3 | -49 | -596 | ||||||||||||||||||
Change in amount (B - A) |
34 | -97 | -169 | -631 | ||||||||||||||||||
Change (%) |
0.6 | -97.0 | - | - | ||||||||||||||||||
Previous years
results (Fiscal year ended December 31, 2007) |
4,022 | -328 | -306 | -196 | ||||||||||||||||||
2. | Revised non-consolidated financial forecasts |
Fiscal year ended December 2008 (January 1, 2008 to December 31, 2008) Non-consolidated financial forecasts |
Net sales | Operating profit |
Ordinary profit |
Net income |
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Previous forecast (A) |
2,500 | 25 | 40 | 30 | ||||||||||||||||||
Current forecast (B) |
2,358 | 96 | 68 | -589 | ||||||||||||||||||
Change in amount (B - A) |
-142 | 71 | 28 | -619 | ||||||||||||||||||
Change (%) |
-5.7 | 284.0 | 70.0 | - | ||||||||||||||||||
Previous years results (Fiscal year ended December 31, 2007) |
2,444 | -186 | -135 | -515 | ||||||||||||||||||
3. | Reasons for the revision |
Through greater efficiency in development activities, the streamlining of operation, the elimination of waste, and other factors, e-System Corporation returned to an operating profit, on a non-consolidated basis.
On a consolidated basis, however, the sudden slowdown in the economy had a negative impact on the profitability of e-System Corporations human resource services business.
This notice contains forward-looking statements with respect to future results, performance and achievements that are subject to risk and uncertainties and reflect managements views and assumptions formed by available information. All statements other than statements of historical fact are statements that could be considered forward-looking statements. When used in this document, words such as anticipate, believe, estimate, expect, intend, may, plan, project or should and similar expressions, as they relate to Canon, are intended to identify forward-looking statements. Many factors could cause the actual results, performance or achievements of Canon to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, changes in currency exchange rates and interest rates, introduction of competing products by other companies, lack of acceptance of new products or services by Canons targeted customers, inability to meet efficiency and cost-reduction objectives, changes in business strategy and various other factors, both referenced and not referenced in this notice. A detailed description of these and other risk factors is included in Canons annual report on Form 20-F, which is on file with the United States Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. Canon does not intend or assume any obligation to update these forward-looking statements.