Canon Inc. has reported good results for the year 2025, which concluded on 31st December 2025. The company has reported record-high net sales for the second consecutive year. The consolidated net sales of the company have reached 4,624.7 billion yen compared to 4,509.8 billion yen in FY2024 (adjusted for impairment). The increase in sales was 2.5%, and the company has faced challenges such as U.S. tariffs, which have resulted in a decline of 31.3 billion yen in operating profit. The operating profit of the company has increased by 2.4%, reaching 455.4 billion yen (operating profit margin of 9.8%, a touch lower than the 9.9% of the previous year). The net income attributable to Canon has also increased by 2.1%, reaching 332.1 billion yen (net income margin of 7.2%). The net sales have increased by 3.8% to 1,321.8 billion yen in Q4. The cameras and network cameras have reported double-digit growth, while laser printers have reported lower sales. The gross profit margin has been 46.5% in Q4. The operating expense ratio has also been improved through structural reforms.

In the upcoming year 2026, the company has reported an increase of 3.0% in net sales to 4,765.0 billion yen. The operating profit of the company has also increased by 5.2%, reaching 479.0 billion yen (operating profit margin of 10.1%). The net income of the company has also increased by 2.7%, reaching 341.0 billion yen. The company has also declared a dividend of 160 yen per share and plans to spend 200 billion yen on share buybacks. The factors contributing to the increase in net sales are an increase in sales volume (37.2 billion yen impact on operating profit), cost reduction, and an increase in high-potential segments. The company has also reported geopolitical risks, tariffs, and a decline in the market in Europe and Asia. The company has set a target to achieve a return on equity of 10%, which was

The Imaging Business Unit, comprising interchangeable lenses, compact cameras, network cameras, etc., was another significant contributor to revenue. In FY 2025, net sales of the Imaging segment reached 1,054.9 billion yen, an increase of 12.5% over 937.4 billion yen in FY 2024. It surpassed estimates by 5.2 billion yen. Operating profit climbed 14.3% to 172.9 billion yen, with an operating margin of 16.4%. In Q4, net sales rose 18.4% to 328.5 billion yen, with operating profit up 23.1% to 64.5 billion yen (19.6% operating margin).

Cameras have been driving the segment. In FY 2025, camera net sales climbed 7.9% to 625.5 billion yen, an increase over 579.9 billion yen in FY 2024. In Q4, camera net sales grew 13.0% to 199.3 billion yen. New full-frame mirrorless cameras like the EOS R6 Mark III have contributed to the segment. In addition, entry-level models like the EOS R50, R100, and the video-centric EOS R50 V for young content creators have seen high demand. Compact cameras like PowerShot have seen an increase in sales due to backlog clearing and an increase in production. Interchangeable lenses have seen 2.95 million units sold, an increase of 2% year over year. The market is expected to reach 6.8 million units in 2026, an increase of 100,000 units. Network cameras have seen an increase of 20.1% to 429.4 billion yen, driven by global security needs and AI video analytics. In Q4, network cameras have seen an increase of 27.8%.

Imaging is expected to have a net sales of 1,137.2 billion yen in FY2026, an increase of 7.8%, and an operating profit of 184.1 billion yen, an increase of 6.5%, and a margin of 16.2%. This is due to an increase in compact camera production to meet backorders, continued efforts to promote entry-level mirrorless cameras, continued development of full-frame systems, and network cameras due to an increase in AI and security needs. They are expected to increase market share in cameras and network cameras despite tariffs, which will have an impact on costs, due to their product lineup and structural reforms.

In conclusion, while Printing remains the largest segment in terms of sales, which is around 54%, the fact that Imaging is growing at double digits and is more profitable suggests that Imaging is on the rise. This is because of the innovations in mirrorless cameras, entry-level cameras, and network cameras, which are helping Imaging become a key component of Canon's vision of achieving an operating profit margin of more than 10 percent across the company in 2026.