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Canon Inc. (CAJ)

NYSE - NYSE Delayed price. Currency in USD
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17.14+0.31 (+1.84%)
At close: 4:00PM EDT
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Trade prices are not sourced from all markets
Previous close16.83
Open16.94
Bid17.00 x 1300
Ask17.12 x 2200
Day's range16.93 - 17.14
52-week range16.10 - 28.41
Volume311,009
Avg. volume523,307
Market cap17.861B
Beta (5Y monthly)0.69
PE ratio (TTM)8.65
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield0.76 (4.52%)
Ex-dividend date26 Jun 2020
1y target estN/A
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  • Toshiba Repels Activist Challenge With Sweep of Board Vote
    Bloomberg

    Toshiba Repels Activist Challenge With Sweep of Board Vote

    (Bloomberg) -- Toshiba Corp. won a clean sweep for its slate of board nominees, turning back a challenge from activist investors who sought more influence after years of accounting scandals and business missteps.The Tokyo-based company said that its 12 proposed directors were all elected at a shareholders meeting. Activist Effissimo Capital Management Pte, the company’s largest shareholder, had sought to have its co-founder, Yoichiro Imai, take a seat on the conglomerate’s board. Toshiba’s shares slid as much as 2% in Tokyo trading after the vote.Toshiba, once renowned for its technological innovation, has stumbled badly in recent years. It paid a record fine in an accounting scandal and then lost billions on a bungled foray into nuclear power. To help cover the losses, Toshiba sold its medical unit to Canon Inc., its home appliance business to China’s Midea Group Co. and a chunk of its crown-jewel memory chip business to a group led by Bain Capital.Effissimo and other activist investors have clashed with the company, seeking improved governance and management changes. The Singapore firm, the first investor with an activist history to target Toshiba, disclosed a stake in 2017 and was later joined by other activists. On Friday, the firm said it remained open to “constructive engagement” with Toshiba management.“There were many individuals that have shared our concerns and agreed that the further growth in Toshiba and enhancement to its corporate value could not be achieved absent a fundamental improvement in its compliance and corporate governance,” it said in a statement.Effissimo this week reduced its stake to 9.91% from about 15.4% to remove concerns that its status as an overseas investor would impede Toshiba’s independence. It also wanted to ensure Imai’s status as an independent director if he had been elected to the board.“This stems from our belief that there are internal control-related problems at Toshiba,” Effissimo said in a separate statement at the time.(Updates with shares and Effissimo’s statement from the second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Canon Plunges Most in Eight Years After First Quarterly Loss
    Bloomberg

    Canon Plunges Most in Eight Years After First Quarterly Loss

    (Bloomberg) -- Canon Inc. slid to a two-decade low after reporting its first quarterly loss, as the Japanese icon struggled with potentially the worst global downturn since the Great Depression.Its shares slid as much as 11.5%, the biggest decline on an intraday basis since July 2012. The Japanese maker of printers and scanners on Tuesday warned that the pandemic had dampened demand for printers and cameras more than anticipated, forcing it to slash its interim dividend. It also forecast an annual profit of 45 billion yen ($428 million), missing the lowest of analysts’ estimates.Canon, a pioneer of modern photography that’s struggled to sustain growth in the smartphone era, has in past years diversified into areas such as diagnostic imaging equipment. After a decade of share price decline, it’s now grappling with the uncertainty of Covid-19 as corporations around the world tighten their belts.What Bloomberg Intelligence SaysDiminished order flow for cameras and office printers remains a key challenge due to the threat of a collapse in corporate and consumer spending, and slow office reopenings in many countries. Demand for medical equipment is climbing, yet drawn-out restrictions on travel and logistics imply longer wait times for business negotiations and machine installations, delaying sales recognition.\- Charles Shum and Simon Chan, analystsClick here for the research.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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