Richard CanonNews / Tuesday, July 26, 2022 / Categories: News, Canon Financial News This post may contain affiliate links(s). An affiliate link means I may earn advertising/referral fees if you make a purchase through my link, without any additional cost to you. It helps to keep this site afloat. Thank you in advance for your support. If you like what we do here, maybe buy me a coffee. Canon 2Q 2022 Financials Canon released its financials today, and it paints a good picture of the company’s post-COVID-19 recovery. Supply shortages still give an uneven view of the company and what its strategic direction is going forward, as there is still so much triage happening as supplies remain hard to come by. Echo’ed throughout the report is the fact that Shanghai’s COVID lockdown bothered Canon more than we knew as they struggled with supply shortages. Here’s hoping that China relaxes it’s zero-covid policy and that helps with bringing more stability to the global supply chain. Canon's overall operating profit for the quarter increased from a year ago by 27.4% but because of the rapid deprecation of the yen, overall the net income before taxes ended up decreasing by .7%. I suspect we will see this from all of the Japanese companies as they report this quarter. For imaging, the main driver this quarter was network cameras (security and the like) posting a significant gain in the number of units and also sales. ILCs still posted a healthy increase in sales in terms of dollars, but a significant lowering of unit sales from a year ago. Canon blames this on the supply shortages focusing them to work on higher yield units that deliver the most profits. As it stands, it worked for Canon in the imaging department and has posted a whopping 54.8% increase in operating profit (20.9 to 32.4 billion yen) from a year ago. Canon still overall is projecting a slight increase in the number of units sold this year (around 2.8 million) for an increase of 2% from a year ago, and they are expecting the overall market to be around 5.45 million units. Thus, Canon expects to have somewhere around a 51% market share this year. Richard CanonNewsRichard CanonNews Richard has been using Canon cameras since the 1990s, with his first being the now legendary EOS-3. Since then, Richard has continued to use Canon cameras and now focuses mostly on infrared photography. Richard is the founder and editor of CanonNews since 2017, and has worked as a writer on CanonRumors and other websites in the past. Other posts by Richard CanonNews Contact author Facebook page Print Tags: Financials2022 Please login or register to post comments.