Canon Records a high Net Sales for Fiscal 2025

Canon Inc.'s financial performance for the fiscal year 2025, which ended on December 31, 2025, recorded a record high net sales for the second year in a row. Consolidated net sales for the year were 4,624.7 billion yen, an increase of 2.5% over FY2024 net sales, which were 4,509.8 billion yen, after adjusting for impairment. The company saw robust demand for its products, even with challenges such as U.S. tariffs, which had a 31.3 billion yen impact on its operating profit. Its operating profit for the year was 455.4 billion yen, an increase of 2.4%. Its operating profit ratio was 9.8%, a slight decrease from 9.9%. Net income attributable to Canon increased by 2.1% to 332.1 billion yen, with a net income ratio of 7.2%. Net sales for the fourth quarter increased by 3.8% over the same period in FY2024, recording 1,321.8 billion yen, with double-digit increases for cameras and network cameras offsetting decreases for laser printers. Its gross profit for the fourth quarter was 46.5%. The company's structural reforms also contributed to a reduction in its operating costs.

For FY2026, Canon expects its net sales to be 4,765.0 billion yen, an increase of 3.0%. Its operating profit for FY2026 is expected to be 479.0 billion yen, an increase of 5.2%. Its net income for FY2026 is also expected to increase by 2.7%. The company expects its dividend for FY2026 to be 160 yen, with a share buyback program of 200 billion yen. The company expects its return on equity for FY2026 to be 10%. This is an increase from its 9.7% return on equity for FY2025, which resulted from changes in its portfolio and efficiency improvements.

The Imaging Business Unit, which includes products such as interchangeable lens cameras, compact cameras, lenses, network cameras, etc., was a significant contributor to growth. In terms of figures, the net sales in the Imaging Business Unit reached 1,054.9 billion yen in FY2025, an increase of 12.5 percent over the previous year's 937.4 billion yen, and an increase of 5.2 billion yen over the previous projection. The operating profit increased by 14.3 percent to 172.9 billion yen, with a 16.4 percent operating margin. In Q4, the net sales increased by 18.4 percent to 328.5 billion yen, and the operating profit increased by 23.1 percent to 64.5 billion yen, with a 19.6 percent operating margin.

The camera business contributed a lot to the growth in the Imaging Business Unit. In terms of figures, the camera business saw an increase in net sales by 7.9 percent to 625.5 billion yen in FY2025, up from 579.9 billion yen in the previous year. In Q4, the camera business saw an increase in net sales by 13.0 percent to 199.3 billion yen. The increase in camera business can be attributed to new product releases such as the EOS R6 Mark III, which is a new product in the mirrorless camera category, and the success of the entry-level cameras, the EOS R50, the EOS R100, and the EOS R50 V, which is a video-oriented camera targeting younger creators.

The compact cameras, which include the PowerShot series, saw a doubling in sales due to backlog clearing and increased production. The interchangeable lens cameras sold 2.95 million units in the period, an increase of 2 percent over the previous year, in a market that is expected to reach 6.8 million units in

For FY2026, Imaging will have net sales of 1,137.2 billion yen, an increase of +7.8%, and an operating profit of 184.1 billion yen, an increase of +6.5%, or 16.2% margin. This will be driven by higher compact camera production to meet backorders, continued efforts to popularize entry-level mirrorless cameras, full-frame camera development, and expansion of network cameras driven by increasing AI and security needs. Canon will continue to increase share in cameras and network cameras, despite the impact of tariffs, by maintaining a solid product lineup and ongoing structural reforms.

Overall, Printing remains the largest segment (accounting for around 54% of sales), but Imaging is growing strongly in double digits and is very profitable, driven by mirrorless, entry-level, and network camera sales. Imaging is therefore an important contributor to Canon's goal of attaining a 10% operating profit ratio in 2026.