CANON INC. CANON ANNUAL REPORT 2022
Fiscal Year Ended December 31, 2022
TABLE OF CONTENTS
StrategyBusiness Segment/ Corporate StructureFinancial SectionCorporate Data
1 Financial Highlights
2 To Our Shareholders
9 Business Strategy
18 At a Glance
20 Research & Development
22 Production
24 Sales & Marketing
26 ESG
36 Financial Overview
54 Ten-Year Financial Summary
56 Consolidated Balance Sheets
57 Consolidated Statements of Income
57 Consolidated Statements of Comprehensive Income
58 Consolidated Statements of Equity
59 Consolidated Statements of
Cash Flows
60 Notes to Consolidated Financial Statements
96 Schedule II Valuation and Qualifying Accounts
97 Management's Report on Internal Control Over Financial Reporting
98 Report of Independent Registered Public Accounting Firm
103 Transfer and Registrar's Office
103 Shareholder Information
103 Major Consolidated Subsidiaries
Cover Photo:
An X-ray CT system equipped with a photon-counting detector (PCCT) system has been installed at the National Cancer Center (NCC) Exploratory Oncology Research & Clinical Trial Center in Japan, where it is currently used to conduct research exploring the clinical applications of PCCT.
In the future, Canon will explore the new value offered by PCCT in a wide range of clinical fields, with the aim of promoting its rapid practical application.
FINANCIAL HIGHLIGHTS
Millions of yen (except per share amounts)
2022
Net sales Operating profit
Income before income taxes
Net income attributable to Canon Inc.
Net income attributable to Canon Inc. shareholders per share:
-Basic
-Diluted
¥ 4,031,414 353,399 352,440 243,961
¥
236.71 ¥ 236.63
Total assets
Canon Inc. shareholders' equity
2021
¥ 3,513,357 281,918 302,706 214,718
205.35 205.29
¥ 5,095,530 ¥ 3,113,105
¥ 4,750,888
¥ 2,873,773
Change (%)
+14.7
+25.4 2,657,135
+16.4 2,649,925
+13.6 1,834,293
+15.3
+15.3 1.78
Notes:
1. Canon's consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles.
Thousands of U.S. dollars (except per share amounts)
2022
$ 30,311,383
$ 1.78
+8.3
+7.3
$ 38,312,256 $ 23,406,805
2. U.S. dollar amounts are translated from yen at the rate of JPY133=U.S.$1, the approximate exchange rate on the Tokyo Foreign Exchange Market as of December 30, 2022, solely for the convenience of the reader.
Net Sales (Billions of yen) | Net Income Attributable to Canon Inc. (Billions of yen) |
4,500 | 300 |
3,000 | 200 |
1,500 | 100 |
0 | 0 |
2018
2019
2020
2021
2022
2018
2019
2020
2021
2022
Net Income Attributable to Canon Inc.
Shareholders per Share (Yen)
300
ROE/ROA (%)
10
0
2018
2019
2020
2021
2022
2018
Basic
Diluted
ROEROA
2019
2020
2021
2022
TO OUR SHAREHOLDERS
Anticipating social change, we will transform, boldly press forward and become a truly excellent global corporation
FUJIO MITARAI
Chairman & CEO
Canon Inc.
STRATEGY
BUSINESS SEGMENT/ CORPORATE STRUCTUREFINANCIAL SECTION
CORPORATE DATA
Net sales and net income attributable to Canon Inc.
(Billions of yen)
Canon Inc. dividend per share (Yen)
2019
2020
2021
2022
Net sales (left axis)Net income attributable to Canon Inc. (right axis)
Performance in 2022
The global economy showed signs of a steady recovery in 2022 as the COVID-19 pandemic finally started to subside, but the Russian invasion of Ukraine brought a rise in energy and food prices and drove inflation even higher. Governments worldwide turned to tight monetary policies in an attempt to rein in rising inflation, and as a result, the recovery of the global economy slowed to a more moderate pace.
Under these circumstances, we were still able to increase our sales volume from the previous year by leveraging the first-rate product capabilities that underpin our global top-three market share in multiple businesses. In the Printing Group, we provided equipment best suited to the diversification of work locations with an extensive lineup of products, from office multifunction devices (MFDs) to home inkjet printers. In the Imaging Group, we expanded our lineup of mirrorless cameras and lenses to meet the needs of users seeking high-quality images. In the Medical Group, we brought to market CT and MRI systems that combine our imaging and medical technologies and boosted sales for these devices alongside those of diagnostic ultrasound systems. We also stepped up research into our X-ray CT system equipped with a photon-counting detector (PCCT) with the aim of practical application in the near future. In the Industrial
96
00
Interim dividend
05
Year-end dividend
10
15
Commemorative dividend
20
22
Group, we provided lithography equipment boasting outstand-ing productivity to meet the brisk investment plans of semicon-ductor manufacturers in anticipation of growth in such fields as AI, IoT, and electric vehicles that require numerous power semiconductor devices.
We made a group-wide concerted effort to get product supply volume back on track, despite the ongoing parts shortage and logistics difficulties, and we also reflected some of the higher costs in our selling prices. Moreover, we managed to mitigate rising expenses across the entire group, thereby ensuring our profitability.
As a result, we recorded strong sales and profit growth again in 2022; consolidated net sales rose 14.7% year on year to 4,031.4 billion yen, consolidated income before income taxes increased 16.4% to 352.4 billion yen, and consolidated net income attribut-able to Canon Inc. grew 13.6% to 244.0 billion yen.
Even though sales of cameras and printers declined, our new businesses, including medical and network cameras, grew steadily, and their aggregate sales exceeded 1,000 billion yen. Such significant progress in the transformation of our business portfolio helped consolidated net sales surpass the 4,000 billion yen mark for the first time in five years.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Canon Inc. published this content on 30 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2023 07:40:04 UTC.
