Canon Inc. on Thursday said its net profit grew 45 percent in 2003, buoyed by robust digital camera sales and a cost-cutting drive.
Canon's net profit for the 12 months through December stood at a record 275.73 billion yen, up from 190.737 billion yen a year ago. It is the fourth straight year Canon has posted a record group net profit.
The company forecast record earnings again for this year, expecting its worldwide unit sales of digital cameras to jump by more than 70 percent.