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-December 31), Canon's medical division posted revenues of $4.022 billion, up 0.2% compared with revenues of $4.014 billion in 2018. The division's income before income taxes was $250.3 million, down 7.4% compared with income before income taxes of $270.4 million for 2018. The decline was mostly due to currency fluctuation.
In the fourth quarter of 2019, Canon's medical business turned in revenues of $1.009 billion, down 6.9% compared with $1.084 billion in the fourth quarter of 2018.
