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Japan-Update

Canon hikes 2017 profit outlook on digital cameras, OLED

Annual dividend will be hiked to 160 yen per share, up 10 yen

TOKYO -- Canon said Tuesday that it now sees group net profit soaring 63% on the year to 245 billion yen ($2.15 billion) in 2017, buoyed by its mainstay digital cameras and manufacturing equipment for OLED smartphone displays.

The target, based on U.S. accounting methods, was revealed when the Japanese electronics giant announced its third-quarter earnings. This marks the third time Cannon raised its 2017 outlook. It previously forecast a 46% net profit jump to 220 billion yen.

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