Canon Inc. said Monday its net profit rose 12 percent to a record 384.1 billion yen in 2005, thanks to strong sales of digital cameras and color laser printers.
The company also announced that Senior Managing Director Tsuneji Uchida will be promoted to vice president with an eye to eventually replacing President Fujio Mitarai, who is scheduled to take the helm of the Japan Business Federation (Nippon Keidanren), the country's largest business lobby, in May.
Canon projects solid earnings growth for 2006, with digital camera sales expected to rise 14 percent to 19.2 million units.
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