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Canon sharply focused on recovery

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Canon sharply focused on recovery

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The Japanese electronics giant Canon has raised its annual profit forecast, after its quarterly profits leapt by more than 400 per cent in the first quarter compared with the same period last year.

It is the second consecutive quarterly year-on-year growth after two years of steady decline.

A general recovery in office business boosted Canon’s sales of equipment like printers and there has been greater demand for digital SLR cameras.