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Canon Reports Record Results for Fiscal Year 2001

Press release from the issuing company

LAKE SUCCESS, N.Y.--Jan. 31, 2002--Canon U.S.A., Inc., a subsidiary of Canon Inc. and a leader in imaging technologies, today announced Canon Inc. fiscal-year 2001 consolidated net sales of 2,907.6 billion yen (US$ 22,027 million), which represents a year-over-year increase of 7.8% over fiscal year 2000. Canon reported 2001 net income of 167.6 billion yen (US$ 1,269 million), or 191 yen (US$ 1.45) per share, which represents a year-over-year increase of 24.5% (after cumulative effect of accounting change). Operating profit also advanced, improving 20.4% over fiscal year 2000. Canon reported fourth-quarter revenue of 753.3 billion yen (US$ 5,707 million), 1.6 percent higher than fourth-quarter 2000 with net income of 30.0 billion yen (US$ 227 million), 0.9 percent higher than fourth-quarter 2000. "In the fourth quarter, Canon was negatively affected by the slowdown in the U.S. economy, and positively affected by the weaker yen and the aggressive introduction of competitive new products. We are extremely pleased to have been able to achieve record sales and profits for 2001, despite the difficult economic climate. For 2002, our objective will be to continue consolidating our business foundation, strengthening our position in the market, and improving our financial structure, while we try to match the record-setting performance in the previous year," said Toshizo Tanaka, Senior Managing Director and Group Executive for Finance and Accounting Headquarters, Canon Inc.

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