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Canon Reports 3Q Results, Nice Boost from Weaker Yen

Press release from the issuing company

LAKE SUCCESS, N.Y.-Oct. 29, 2001--Canon U.S.A., Inc., a subsidiary of Canon Inc. and a leader in imaging technologies, today announced Canon Inc. third quarter consolidated net sales of 680.3 billion yen (US$ 5,717 million), which represents a year-over-year increase of 7.6% for the third quarter of 2001. Canon Inc. reported third quarter net income of 37.5 billion yen (US$ 315 million), or 42.77 yen (US$ 0.36) per share, which represents a year-over-year increase of 4.1%. Operating profit advanced impressively, improving 30.3% over the third quarter of 2000. "Economic conditions remained weak during the 3rd quarter of 2001. However, sales of digital copiers, digital cameras, and semiconductor production equipment continued to be strong. Business results were also given a boost by the weaker yen. As a result, Canon was able to achieve both sales and profit growth compared to the previous year,'' said Toshizo Tanaka, Senior Managing Director and Group Executive for Finance and Accounting Headquarters, Canon Inc. For more detailed information and tables, please refer to our Announcement of 2001 3Q financial results at www.canon.com/finance.

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