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Agenda
3Q 2013 Results FY 2013 Projections Details by Business Financial Situation Supplementary Information
3Q 2013 in Summary
External Environment
Increasing signs of slowdown amid prolonged global economic weakness Yens depreciation
Results
Posted second consecutive quarter of growth in both net sales and profits
Maintaining or improving market share enhancing competitiveness through the launch of new products that take advantage of technological strengths Continuing efforts to reduced costs and expenses
Summary of Results
3Q 2013 Actual
3Q 2013 Actual 3Q 2012 Actual (Billions of yen) Pct. Change
913.1 447.1
49.0%
799.9 386.8
48.3%
+14.2% +15.6%
Op. Profit
(% Sales)
90.6
9.9%
70.9
8.9%
+27.8%
Net Income
Attributable to Canon Inc.
58.8
6.4%
98.91 131.09
50.1
6.3%
78.58 98.48
+17.3%
(% Sales)
Foreign Exchange Rate
Sales
3Q 2012 Actual Foreign Exchange Impact
(Net Sales, Cost of Sales, Expenses)
Sales Volume Impact Office Imaging System Industry and Others Total Others Total Change 3Q 2013 Actual
Assumptions
2013 Current Projection
Yen-1USD
Yen-1EURO
Impact of Exchange Rate Movement (4Q Impact Given a One Yen Change)
Net Sales USD EURO 4.7 billion yen 2.1 billion yen
Outlook
Revised projections, primarily for interchangeable-lens cameras Aim to firmly secure sales and profit growth in the fourth quarter and for the full year
Execute product and regionally tailored sales strategies Continue efforts to reduce costs and expense Promote measures that emphasize profitability to maintain sound financial condition
October 24, 2013 Canon Inc.
3,750.0 1,811.2
48.3%
3,479.8 1,650.0
47.4%
Op. Profit
(% Sales)
360.0
9.6%
323.9
9.3%
Net Income
Attributable to Canon Inc. (% Sales)
Foreign Exchange Rate
240.0
6.4% 96.95 128.24
224.6
6.5% 79.96 102.80
+6.9%
Sales
Previous Projection (Jul. 24, 2013) Foreign Exchange Impact
(Net Sales, Cost of Sales, Expenses)
Sales Volume Impact Office Imaging System Industry and Others Total Others Total Change Current Projection (Oct. 24, 2013)
Office
3Q 2013 Actual
(Billions of yen) Growth rate y/y ( ) Local currency base
800
3Q13 Color Ratio Copiers Value Base* Unit Base 54% 36% Printers 46% 15%
Copiers
Color Monochrome Total +9% -7% -2%
Printers
+31% +22% +24%
*Includes Consumables
Sales
Monochrome copiers
Printers
Color copiers
Others
Op.Profit
Op. Profit (Billions of yen) Op. Profit Ratio
600
456 409
400
464
+63.1%
Printers +20.8%(-2.6%)
11.2% 12.9%
14.7% 13.6%
200
10.1%
76
51 60 67
+15.8%(-3.0%) +16.8%(-2.1%)
0 3Q12 4Q12 1Q13 2Q13 3Q13
41
Copier total
3Q12
4Q12
1Q13
2Q13
3Q13
+16.3%(-2.6%)
October 24, 2013 Canon Inc.
10
Office
FY 2013 Projection
(Billions of yen) Growth rate y/y ( ) Local currency base
3,000 Monochrome copiers Printers 2,500 Color copiers Others
FY13 Color Ratio Copiers Value Base* Unit Base 55% 36% Printers 47% 14%
Copiers
Color Monochrome Total +10% -2% +2%
Printers
+15% +12% +12%
*Includes Consumables
Sales
Op.Profit
Op. Profit (Billions of yen) Op. Profit Ratio
2,000
2,020 1,758
+33.8%
1,500
1,000
Printers +8.9%(-8.8%)
13.6%
272
500
+15.7%(+0.3%) +13.5%(-1.8%)
204
FY12
Copier total
FY12
+14.7%(-0.7%)
11
Imaging System
3Q 2013 Actual
(Billions of yen) Growth rate y/y ( ) Local currency base
600 Cameras IJP Others
Growth Rate y/y (Unit Base) 3Q13 Interchangeable Lens Digital Cameras Compact Digital Cameras Total Digital Cameras IJP -3%
Interchangeable Lens Digital Camera Ratio * Value Base Unit Base 3Q13 83% 41%
-31%
-22% -2%
Sales
Op.Profit
Op. Profit (Billions of yen) Op. Profit Ratio
411
400
322
298
IJP +19.2%(-0.5%)
16.3% 13.4% 9.6% 14.6%
+8.2%
16.3%
200
Cameras +3.7%(-16.6%)
53
55 28
56
57
3Q12
4Q12
1Q13
2Q13
3Q13
3Q12
4Q12
1Q13
2Q13
3Q13
12
Imaging System
FY 2013 Projection
(Billions of yen) Growth rate y/y ( ) Local currency base 2,500
Cameras IJP Others
Growth Rate y/y (Unit Base) FY13 Interchangeable Lens Digital Cameras Compact Digital Cameras Total Digital Cameras IJP -3%
Interchangeable Lens Digital Camera Ratio * Value Base Unit Base FY13 81% 36%
-24%
-17% +1%
Sales
2,000
Op.Profit
Op. Profit (Billions of yen) Op. Profit Ratio
1,500
1,406
1,537
1,465
IJP +16.0%(+0.6%)
+0.7%
1,000
500
Cameras +0.0%(-16.3%)
FY12
FY12
13
IC Lithography Unit Breakdown by Light Source 3Q12 3Q13 ArF 0 0 KrF 0 0 i-line 8 10
Sales
150
Net Sales
120
Op.Profit
30.0%
86 71 64 57 72
+1.7%(-3.9%)
15
90
Gross Sales
10
20.0%
15.0%
+2.3%(-1.9%)
Gross Sales (Includes sales among Group businesses)
60 80
Gross 93
98 75 69
86
5.4%
Gross 95
5
10.0%
5.0%
5
0
0.0%
30
(Litho. Equip.)
13 0 -22 -30 9 -20 6 -18 11 9 -23
-10
-32.4%(-36.9%)
-5
-8
-6 -6.8%
-5.0%
-8
-10.0%
-22
-8.6%
-15.0%
3Q12
4Q12
1Q13
2Q13
3Q13
3Q13
14
Growth Rate y/y ( ) Local Currency Base Sales Eliminations Lithography Equipment Others
Sales
Lithography Equipment (Unit Sales) FY13 FY13 FY12 Previous Current Projection Projection IC 46 44 46 FPD 16 17 17
IC Lithography Unit Breakdown by Light Source FY13 FY13 FY12 Previous Current Projection Projection ArF 0 0 0 KrF 3 5 7 i-line 43 39 39
500
Net Sales
-8.1%(-12.6%)
323
400
305
45
Op.Profit
15.0%
297
Gross Sales
300 345
Gross Sales (Includes sales among Group businesses) Gross 408
-6.1%(-9.6%)
332
Gross 383
315
200 1.4%
0
0.0%
100
(Litho. Equip.)
Sales Eliminations (Sales among Group businesses)
63 0 -84 -100
66
68
+8.2%(+4.5%)
-15
-22 -5.6%
-19
-5.0%
-5.0%
-86
-30
-10.0%
FY12
FY12
15
Inventories
(Billions of yen)
800
Amount (Billions of yen) Turnover (Days)
90
700
54 46 600
56
57
63
57
61
60
59 608
70
50
589
582
30
500
477
10
-10
400
-30
300
3QE11 4QE11 1QE12 2QE12 3QE12 4QE12 1QE13 2QE13 3QE13
-50
16
Capital Expenditure
(Billions of yen)
1,000
Increase in PP&E Net Income Attributable to Canon Inc. Depreciation
750
750
500
247 249 260 240 225
500
744
402
150
213
171
470
250
276 261 270 258 260 240 227 230 255
250
342
384
485
335
515
FY13 Current Projection
257
0
FY10 FY11 FY12 FY13 Previous Projection FY13 Current Projection
159
0
FY10 FY11 FY12 FY13 Previous Projection
213
300
215
17
Cash on Hand
Cash on Hand (Year-end)
1500 4
2.8
1000
2.5
795
841
2
500
0.5
FYE09
FYE10
FYE11
FYE12
Note : 450, 100, 50, 100, 150, and 50 billion yen was used to acquire own shares in 2007, 2008, 2010, 2011, 2012, and 2013, respectively.
18
Supplementary Information
19
FY 2012 Actual
Foreign Exchange Impact
3,479.8
+488.7
323.9
+217.8
Change in Exchange Rate 1USD: 1EURO: 79.96 to 96.95 yen 102.80 to 128.24 yen
+27.1 -66.1
-39.5
-78.5 -92.6
Others
Total Change FY 2013 Current Projection
-140.0
+270.2 3,750.0
-89.1
+36.1 360.0
Supplementary Information
20
(Billions of yen)
150
141.3
447.1 49.0%
100
60.3
50
11.6
0
-8.8
-36.1 -47.7
-50
-100
Forex Impact on Sales Sales Volume Impact Price Change Forex Impact on Costs Cost Reduction Total Change in Gross Profit
Supplementary Information
21
(Billions of yen)
150
90.6 9.9%
100
60.3
50
19.7
-0.1
-50
-40.5
-100
Total Change in Gross Profit Change in SG & A (Excluding Forex Impact) Change in SG & A (Forex Impact) Total Change in Operating Profit
Supplementary Information
22
5.0%
40
4.0%
30
3.0%
20
11 0.3% 12
2.0%
10
10 0.3%
Supplementary Information
23
Financial Ratios
(Yen) 900 15%
600
9.2%
10%
6.3%
5.7%
5.9% 5%
204.49
191.34
209.07
0% FY11
ROE
FY12
ROA
Supplementary Information
24