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Canon reported a 26.1% decline in operating profit to 71.3 billion yen (about $460–465 million USD, depending on exchange rates) in the first quarter, even as its overall sales increased slightly, highlighting pressure on profitability despite steady demand. The company’s revenue growth was offset by rising costs, including higher research and development spending, increased labor and production expenses, and more expensive components. In addition, Canon faced a less favorable product mix, with stronger sales in lower-margin segments such as office and printing equipment, which further weighed on earnings. As a result, while the company continued to benefit from stable global demand for its imaging and printing products, the combination of higher costs and competitive pricing conditions led to a significant drop in operating profit compared with the same period last year.
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