Canon sees 2018 profit jumping 27 percent as diversification pays off

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TOKYO (Reuters) – Japan’s Canon Inc said on Tuesday it expects operating profit to climb 27 percent in 2018, marking its second consecutive year of profit gains as its efforts to diversify away from copiers and cameras pay off.

Canon forecast operating profit to rise to 420 billion yen ($3.9 billion) from 331.48 billion yen a year earlier, below a consensus estimate of 376.19 billion yen from 20 analysts polled by Thomson Reuters I/B/E/S.

Reporting by Makiko Yamazaki; Editing by Edwina Gibbs