Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Equity Bottom-Up

<ul>
<li>
 Earnings Momentum in 2025 – Canon expects 5% revenue growth and 17% EBIT expansion this year, driven by high-margin segments like semiconductor lithography, medical devices, and network cameras.</li>
<li>
 Aggressive Shareholder Returns – With ¥350 billion in planned buybacks and dividends in 2024, Canon’s 6.8% TSR and strong free cash flow offer a compelling value proposition.</li>
<li>
De-Risked Upside – 2025 guidance provides earnings visibility, while valuation suggests ~40% upside, supported by resilient end-markets and an under-leveraged balance sheet.</li>
</ul>



 Earnings Momentum in 2025 – Canon expects 5% revenue growth and 17% EBIT expansion this year, driven by high-margin segments like semiconductor lithography, medical devices, and network cameras.

 Aggressive Shareholder Returns – With ¥350 billion in planned buybacks and dividends in 2024, Canon’s 6.8% TSR and strong free cash flow offer a compelling value proposition.

De-Risked Upside – 2025 guidance provides earnings visibility, while valuation suggests ~40% upside, supported by resilient end-markets and an under-leveraged balance sheet.


Canon Inc

Canon (7751) | The Cash Printer