Canon Inc. (NYSE:CAJ) Suspends Japan Operations

Categories: Technology

Canon Inc. (NYSE:CAJ) has decided to suspend operations at eight factories in North Japan.

Canon Inc. (NYSE:CAJ) Suspends Japan Operations

According to a company statement, Canon Inc. (NYSE:CAJ), the world’s largest maker of digital cameras, is planning to freeze operations at eight production and development bases in northern Japan.

These factories including Ibaraki, Fukushima and Tochigi were affected by the 8.9-magnitude earthquake and Tsunami.

Hiromoto Fujimori, a Tokyo-based spokesman said that Canon Inc. (NYSE:CAJ)’s plant in Utsunomiya City, Tochigi Prefecture, which makes lenses and steppers, and another factory that produces inkjet printer devices in Fukushima may take “more than two or three days” to resume operations.

Canon Inc. (NYSE:CAJ) shares were at 45.52 at the end of the last day’s trading. There’s been a -7.1% change in the stock price over the past 3 months.

Canon Inc. (NYSE:CAJ) Suspends Japan Operations
Canon Inc. (NYSE:CAJ) Analyst Advice
Consensus Opinion: Moderate Buy
Mean recommendation: 2
(1=Strong Buy, 5=Strong Sell)
3 Months Ago: 2
Zack’s Rank: 1 out of 5 in the industry

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