Canon Revenues To Be Hit By Earthquake 5% Decline Tipped

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Japanese camera company Canon, who initally said that they had no problems in their production plants following the recent earthquake, has now done an about face and admitted that a major production plant in Southern Japan is damaged and that will impact supply to subsidaries like Australia.

Japanese camera Company Canon, who initally said that they had no problems in their production plants following the recent earthquake,  has now done an about face and admitted that a major production plant in Southern Japan is damaged and that will impact supply to subsidaries like Australia. 

Yesterday the Company said that they have suspended production at the plant which will result in parts supply and distribution problems.

In some foreign markets Canon is forecasting revenue falls of between 5 & 7% . Canon president and chief executive in India Kensaku Konishi, said “In percentage terms, it can go up to five per cent or over of our top line as the supply lines get hurt,” Konishi said.

“We are worried about the parts’ suppliers. We are getting indirect impact,” he said. There will be no impact in the short term as the company and channel partners are currently holding stock but over the long term it will be more pronounced”

Canon Australia have not issued any statements to ChannelNews.

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