Canon Inc. announced consolidated financial results for fourth quarter and full year ended December 31, 2017. For the year ended December 31,2017, total net sales were ¥4,080,015 million, an increase of 19.9% compared to ¥3,401,487 million, for the same period of previous year. Operating profit was ¥331,470 million, an increase of 44.8% compared to ¥228,866 million, for the same period of previous year. Income before tax was ¥353,884 million, an increase of 44.8% compared to ¥244,651 million, for the same period of previous year. Net income after the provision of taxes was ¥255,860 million, compared to ¥161,970 million, for the same period of previous year. Net income attributable to the company was ¥241,923 million an increase of 60.6% compared to ¥150,650 million for the same period of the previous year. Adjusted operating profit was ¥365,391 million compared to ¥228,866 for the same period of previous year. Basic and diluted earnings per share were ¥222.88 an increase of 61.6% compared to ¥137.95 for the same period of previous year. Cash flow from operating activities totaled ¥590,557 million, compared to ¥500,283 million, for the same period of previous year, mainly owing to improvements in profitability. Capital expenditures are ¥181,389 million, compared to ¥208,379 million, for the same period an year ago.

For the fourth quarter ended December 31, 2017, net sales were ¥1,120,291 million, an increase of 16.1% compared to ¥965,173 million, for the same period of previous year. Operating profit was ¥79,036 million, a decrease of 1.4% compared to ¥80,168 million, for the same period of previous year. Income before taxes was ¥88,517 million, an increase of 21.9%, compared to ¥72,635 million, for the same period of previous year. Net income after the provision of taxes was ¥59,741 million compared to ¥49,884 million for the same period of previous year. Net income attributable to canon inc. was ¥54,603 million an increase of 21.8% compared to ¥44,830 million for the same period of previous year. Adjusted operating profit was ¥112,948 million compared to ¥80,168 million for the same period of the previous year.

The company reported impairment loss on goodwill was ¥33,912 million for the fourth quarter ended December 31, 2017.

The company provided earnings guidance for the year ending December 31, 2018. The company expects net sale to be ¥4,300,000 million an increase of 5.4%. Operating profit is expected to be ¥420,000 million an increase of 26.7%. Net income before the provision of income tax was ¥420,000 million with an increase of 18.7%. Net income attributable to Canon inc. is expected to be ¥280,000 million an increase of 15.7%. Basic earnings per share are expected to be ¥259.32 an increase of 16.3%.