January 30, 2019 / 6:22 AM / 9 months ago

Canon sees 5.2 pct dip in 2019 profit on China economic slowdown

TOKYO, Jan 30 (Reuters) - Japan’s Canon Inc said on Wednesday it expected operating profit to drop 5.2 percent in 2019 as a Chinese economic slowdown hit demand for cameras and panel-making equipment.

The camera and printer manufacturer forecast operating profit to dip to 325 billion yen ($2.97 billion) from 342.95 billion yen a year earlier, representing the first drop in three years, and missing a consensus 332.35 billion yen estimate of 18 analysts, according to Refinitiv data.

Operating profit for fourth quarter 2018 increased 30 percent to 99.6 billion yen from a year earlier.

$1 = 109.2700 yen Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman and Rashmi Aich

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