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Canon Marketing Japan's Likely Pivoting to IT Services Via Parent's Sales Networks — Market Talk
Canon Marketing Japan's Likely Pivoting to IT Services Via Parent's Sales Networks — Market Talk
About this update from Canon Marketing Japan Incorporated
Canon Marketing Japan is likely pivoting to IT services using parent company Canon's sales networks, say SMBC Nikko Securities analysts. The Japanese company sells Canon products and offers contracted system development and other IT solutions, the analysts note. Canon Marketing Japan will probably continue to capitalize on its strengths and organizational structure, while expanding IT solutions business to raise sales and margins, achieving 5.3% net-profit CAGR over the next five years. This growth is expected to be partly driven by the usage of Canon products to develop new customer relationships with small- and medium-size enterprises. The brokerage initiates its coverage of the stock with an outperform rating and a target price of Y4,150. Shares are 2.9% higher at Y3,645. ([email protected])
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