Despite a growing domestic market for its products in Japan, sluggishness in Europe put a drag on sales in the medical business for Japanese industrial giant Canon, with the company posting basically flat revenues for fiscal 2019, compared with the year before.
For the year (end-31 December), Canon's medical division posted revenues of 3.652 billion euros, up 0.2% compared with revenues of 3.644 billion euros in 2018. The division's income before income taxes was 227.2 million euros, down 7.4% compared with income before income taxes of 245.5 million euros for 2018. The decline was mostly due to currency fluctuation.
In the fourth quarter of 2019, Canon's medical business turned in revenues of 916.1 million euros, down 6.9% compared with 984.1 million euros in the fourth quarter of 2018.
