Business Services Industry
Canon Sales Co. Sees Net Profit Drop 33 Percent in First Half.
Knight Ridder/Tribune Business News, July, 2003
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Jul. 28--TOKYO--Canon Sales Co. said Monday its group net profit for the fiscal first half through June 30 fell 33.0 percent from a year earlier to 1.11 billion yen despite a 4.6 percent rise in sales to 360.02 billion yen.
The sole distributor of all Canon Inc. products attributed the profit drop to increased marketing costs and expenses related to relocation of its head...uarters to a new building in Shinagawa, Tokyo, and to creation of a new integrated information system.
But sales were robust, especially those of multifunction printers, digital cameras and ink-jet printers, the company said.
In its consolidated earnings report, Canon Sales said its pretax...
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