updated 09:45 pm EDT, Tue March 13, 2012
Strong Yen expected to affect profits
Canon is reportedly planning to slash production costs by at least 400 billion yen (~$4.8 billion USD) by expanding its use of robotics. The strategy move is said to be related to the strength of Japan's yen currency, which is expected to negatively impact the company's annual profits by as much as 100 billion yen (~$1.2 billion USD).
The company is said to be planning to add additional robots to its toner production processes. New implementations are also expected to be added to assembly lines for interchangeable lenses used by SLR cameras, according to a Nikkei report that was quoted by Reuters.
Canon is said to be aiming to increase sales to reach 5 trillion yen (~$60.2 billion USD) by fiscal year 2015, representing a significant increase over revenues for the fiscal year 2011.