Copier sales slide knocks Canon

Canon has announced a fall in profits of more than 50 % despite
digital camera sales holding up well in the downturn. The company is
blaming a 22 % drop in overall sales on a reduced demand for new
photocopiers. Net profit between July and September was 36. 7 bn yen
($399 m; £244 m), down by 54 % on the 83 bn yen the company made in
the same period last year. Meanwhile, Toshiba says it expects to earn
a first-half operating profit thanks to cost cutting. The Japanese
technology giant is expecting to have earned an operating profit of 2
bn yen in the six months to September, instead of a previously
forecast loss of 30 bn yen. Toshiba says it has cut costs in its
microchips, digital media and power systems operations. The company
now expects its annual net loss to be about 58 bn yen, 28 % smaller
than a previously forecast loss of 80 bn yen. Toshiba is due to
announce its full interim results on Friday.