Canon's operating profit for the nine months to September 30, 2026 rose 8.4% to ¥327.7bn on sales of ¥3.43tn, up 4.0%. Net income attributable to shareholders climbed 12.2% to ¥246.4bn, and basic earnings per share rose to ¥287.24 from ¥240.99 a year earlier.
Imaging carries the quarter
The gain was concentrated in one division. Imaging, which covers interchangeable-lens cameras, network cameras and broadcast equipment among other products, lifted sales 16.7% to ¥847.6bn and operating profit 33.2% to ¥144.4bn. Its research and development spending rose 32.0% over the same period.
Printing, Canon's largest division by sales, grew more modestly: sales rose 2.3% to ¥1.87tn and operating profit rose 3.0% to ¥208.2bn. Medical and Industrial went the other way.
| Segment | Sales change | Operating profit | Profit change |
|---|---|---|---|
| Printing | +2.3% | ¥208.2bn | +3.0% |
| Medical | -1.2% | ¥10.8bn | -40.6% |
| Imaging | +16.7% | ¥144.4bn | +33.2% |
| Industrial | -10.7% | ¥30.1bn | -24.8% |
Medical operating profit fell 40.6% to ¥10.8bn on sales that slipped 1.2%, with other operating expenses up 8.9%. Industrial, which includes semiconductor and flat-panel lithography equipment, saw sales drop 10.7% and operating profit fall 24.8% to ¥30.1bn.
An accounting change helps
From January 1, 2026, Canon and its consolidated manufacturing subsidiaries moved from mainly declining-balance to straight-line depreciation for property, plant and equipment, and changed the estimated useful life of some machinery. The company says a review of how the assets are used, prompted by its overhaul of global production, showed that economic benefit will be consumed evenly.
Against the previous method and useful lives, depreciation for the nine months was ¥20.9bn lower. Net income attributable to shareholders was ¥14.4bn higher, and basic earnings per share ¥16.83 higher, as a result of these changes taken together. Over the period, net income rose ¥26.8bn from the year before. Canon treats the changes as a change in accounting estimate, recognised going forward.
Full-year guide and the balance sheet
The release flags a revision to the full-year forecast but does not state the previous figures. The new guide calls for sales of ¥4.77tn (up 3.1%), operating profit of ¥456.0bn (up 0.1%), pretax profit of ¥483.0bn and net income of ¥333.0bn, or ¥390.78 a share. Nine-month operating profit growth was 8.4%.
Canon left its dividend forecast at ¥160 a share for the year, with ¥80 at each half, and says it targets a 40% payout ratio.
Share buybacks continue to shrink equity. Treasury shares rose to 500.4 million from 455.1 million at the end of last year. Shareholders' equity fell 4.7% to ¥3.33tn, and the equity ratio slipped to 52.3% from 56.9%. Short-term borrowings and current long-term debt rose to ¥914.0bn from ¥511.1bn, and inventories to ¥1.03tn from ¥840.4bn.
The release carries no auditor review. Canon says it plans to publish the third-quarter report with the review report attached on October 30.