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- Canon reported a drop of 88% drop in profit last quarter, and a 32% drop in sales. It will take steps to cut costs:
- “Nothing is sacred for us now when it comes to cost cuts. Market conditions are still tougher than we had originally expected” said Masahiro Osawa, the senior managing director of accounting.
- cuts will total 172 billion yen, which is 60 billion more than originally planned
- R&D will be reduced to 320 billion yen
-=Good Selling=-
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