Q1 net sales increased by 22.0% year on year to ¥972.8 billion, but gross profit ratio dropped by 2.7 points to 48.1% due to the effect of the product mix and the appreciation of the yen.
Total sales volume of laser printers increased compared with the same period of the previous year amid recovering demand in emerging countries, supported by the solid sales of new models. Sales of office MFDs increased from the same period of the previous year, mainly for color models and was supported by steady sales of A3 (12”x18”) imageRUNNER ADVANCE C5500-series models. The market for inkjet printers has remained sluggish, especially for consumer models. While there is strong demand in emerging countries for newly designed home-use models with large-capacity ink tanks. Consequently, unit sales for the inkjet printers remained at approximately the same level as the corresponding period of the previous year.
Looking back at the global economy in the first quarter of 2017, the U.S. economy continued to grow steadily as consumer spending and employment conditions improved. In Europe, the economy continued to recover moderately, centered on Germany and the U.K
Canon projects full-year consolidated net sales in 2017 of ¥4,020.0 billion, a year-on-year increase of 18.2% and operating profit of ¥270.0 billion and basic net income attributable to Canon Inc. shareholders per share for the quarter was ¥50.44, a year-on-year increase of ¥24.81.