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Jan. 28, 2021, 2:02 a.m. EST

Canon net profit rises 64%

By Justina Lee

Canon Inc. said Thursday that its fourth-quarter net profit rose 64% from a year earlier, supported by better demand for camera and inkjet printers in the second half of the year.

Net profit for the quarter was 53.59 billion yen ($514.8 million), exceeding the Y33.40 billion estimate from a FactSet poll of analysts.

Its revenue fell 0.8% to Y945.74 billion, higher than the Y916.38 billion estimate by analysts in the poll.

For 2021, Canon said it expects net profit to jump 38% to Y115.0 billion and revenue to rise 7.6% to Y3.4 trillion.

Write to Justina Lee at justina.lee@wsj.com

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