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CANON ANNUAL REPORT 2015 3
STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA
Despite expectations at the beginning of 2015 that the
global economy would realize a modest recovery led by the
United States, the Chinese economy faced a slowdown in
the second half of the year, which was followed by decelera-
tion in emerging economies. As a result, the global economy
overall realized its lowest level of growth since the fi nancial
crisis triggered by the 2008 collapse of Lehman Brothers.
Faced with these circumstances, in 2015, the fi nal year
of Phase IV of our Excellent Global Corporation Plan (2011–
2015), we actively tackled such key challenges as revital-
izing existing businesses and expanding new and future
businesses. In line with these efforts, we welcomed into the
Canon Group Axis, the global leader in network cameras.
Looking at sales of our main products, digital cameras
and inkjet printers continued to face harsh market con-
ditions, mainly in China and emerging Asian countries,
while color offi ce multifunction devices (MFDs) and color
light-production printing systems recorded sales growth.
Semiconductor lithography equipment and fl at panel dis-
play (FPD) lithography equipment also achieved signifi cant
year-on-year sales growth thanks to favorable market con-
ditions. Consequently, benefi ting from the boost provided
by the acquisition of Axis and the positive effects of favor-
able currency exchange rates, consolidated net sales for
2015 increased 2.0% year on year to ¥3,800.3 billion, and
the gross profi t ratio rose 1.0 point year on year to 50.9%.
Income before income taxes, however, declined 9.3% year
on year to ¥347.4 billion, mainly due to the impact of a
rise in investment in development aimed at reinforcing new
businesses, higher expenses associated with consolidating
Axis, and an increase in other deductions resulting from for-
eign currency exchange losses.
Among our accomplishments in 2015, we should high-
light the fact that we recorded our highest-ever gross profi t
ratio despite the harsh business conditions we faced. This
achievement, the result of ongoing cost-cutting activities
and other efforts, is a testament to Canon’s unwavering
manufacturing prowess, even under adverse circumstances.
Furthermore, seeking to actively return profi ts to sharehold-
ers, we declared an annual cash dividend of ¥150.00 per
share, which remains unchanged from the record-high divi-
dend we paid in 2014.
Performance in 2015
Canon will embrace the challenge of new growth
through a grand strategic transformation under
Phase V of its Excellent Global Corporation Plan.
Cash Dividend (Yen)
150
100
50
0
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