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LONDON, January 30, 2003 — Canon Europe, a subsidiary of Canon Inc. (NYSE: CAJ - news) and a leader in imaging technologies, today announced Canon fiscal-year 2002 consolidated net sales of ¥2,940.1 billion (€23,521 million), which represents a year-over-year increase of 1.1% over fiscal year 2001.

Canon Inc. reported 2002 net income of ¥190.7 billion (€1,526 million), which represents a year-over-year increase of 13.8% or a net income per common share of ¥217.56 (€1.74).

Operating profit also advanced, improving 22.9% over fiscal year 2001.

Canon Inc. reported fourth-quarter revenue of ¥861.7 billion (€6,893 million), 14.4 % higher than fourth-quarter 2001 with net income of ¥60.1 billion (€481 million), 100% higher than fourth-quarter 2001.
The latest figures mark the third consecutive year of record results from Canon, with Canon Europe contributing almost one third (29%) of the consolidated net sales achieved by the global Canon group.
“For the year as a whole, while net sales increased only slightly by 1.1%, we achieved double-digit growth in both operating profit and net income, despite the difficult economic climate. Boosted by this strong performance, we are able to report not only our third consecutive year of sales and profit growth, but also record annual sales and profits,” said Toshizo Tanaka, Senior Managing Director and Group Executive for Finance and Accounting Headquarters, Canon Inc.

“As for digital cameras in 2003, we expect strong growth to continue with sales increasing 36.6% year-on-year. We also aim to increase market share by enhancing our product line-up. On a volume basis, compared to 2002, we aim to increase our worldwide share to 25%, which will close the gap on the sector leaders.''

For more detailed information and tables, please refer to our announcement of Fiscal Year 2002 financial results at http://www.canon.com/finance/index.html

Canon Europe delivers consumer, business-to-business and industrial imaging solutions. Its parent company Canon Inc. (NYSE:CAJ) is a top patent-holder of technology, ranking first overall in Europe in 2001, with global revenues of €24billion.

Canon Europe employs approximately 12,000 people across 19 countries. For more information visit
http://www.news.canon-europa.com

This release may contain forward-looking statements which reflect management’s current views with respect to certain future events and financial performance. Actual results may differ materially from those projected or implied in any forward-looking statements. Further, certain forward-looking statements are based upon assumptions of future events which may not prove to be accurate. (Cautionary Statements for Purposes of the Safe Harbor Provisions of the United States Private Securities Litigation Reform Act of 1995.)

Note: In this release, Euro amounts are translated from yen at the rate of EUR 1€= JPY 125, the approximate exchange rate on the Tokyo Foreign Exchange Market as of December 30, solely for the convenience of the reader.


About Canon Europe

Canon Europe is a subsidiary of Canon Inc. of Japan, a world-leading innovator and provider of imaging and information technology solutions for individuals and businesses.

The main business focus for Canon Europe is in two clearly defined markets: Business Solutions (network peripherals: photocopy, printer, scanner and fax solutions) and Consumer Imaging (Input Solutions: photographic equipment including analogue and digital cameras and camcorders; and Output Solutions: Bubble Jet and other printers).

Canon Europe also provides Industrial Products including broadcast lenses, semiconductor and medical equipment.

Canon Europe employs more than 12,000 people across 19 countries.

Further information about Canon Europe is available at:

http://www.news.canon-europa.com/default/homePage/default.as...

Media enquiries, please contact:

Ann Morgan

Corporate PR Manager, Canon Europe

Ph: +44 (0) 20 8588 8000

Email: Ann.Morgan@canon-europe.com

Sarah Griffiths / Terri Fellowes

Nelson Bostock Communications

Ph: +44 (0) 20 7229 4400

Email:Sarah.Griffiths@nelsonbostock.com


This press release was distributed by ResponseSource Press Release Wire on behalf of Nelson Bostock Unlimited in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.