Reuters: Technology News: Canon to cut 400 billion yen in costs: Nikkei

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Canon to cut 400 billion yen in costs: Nikkei Mar 13th 2012, 18:44 Tweet Share this Email Print Related News BOJ refrains from easing, overrules lone stimulus proposal 4:56am EDT Nikkei cuts gains after BOJ holds off more easing 2:53am EDT Nikkei falls after topping 10,000 to new 7-mth high Mon, Mar 12 2012 Daiichi to tie up with GlaxoSmithKline in Japan: report Wed, Feb 29 2012 New Panasonic chief to chase TV profit, not volume Tue, Feb 28 2012 Analysis & Opinion Charts of the day, ECB, Japan, country equity performance MuniLand Snaps: February 16, 2011 A man looks at Canon products displayed at an electronics store in Tokyo January 30, 2012. Credit: Reuters/Toru Hanai Tue Mar 13, 2012 2:44pm EDT (Reuters) - Canon Inc aims to cut at least 400 billion yen ($4.84 billion) in costs over four years to soften the likely impact of a strong yen and an economic slowdown in Europe, the Nikkei reported. Canon estimates that the yen's firmness will depress its operating profit by a little more than 100 billion yen from a year earlier, the business daily said. The company plans to use industrial robots to achieve these goals. In addition to increasing the use of industrial robots in toner production, Canon will consider introducing them in the production of interchangeable lenses for single-lens-reflex cameras, the daily reported. In fiscal 2015, Canon hopes to lift its sales to 5 trillion yen or higher, up 41 percent from the year-ended December 2011, Nikkei said. ($1 = 82.6700 Japanese yen) (Reporting by Sagarika Jaisinghani in Bangalore; Editing by Supriya Kurane) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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