It’s not just the Japanese carmakers that have suffered from their country’s territorial dispute with China.
Canon, the camera and office equipment manufacturer, reported on Wednesday that its sales in China fell by more than 30 per cent last year due, as the company put it, to a “cooling off of demand in China during the latter half of the year”.
The Beijing-Tokyo spat compounded difficulties caused by weak economic growth in Europe, consumers switching from cameras to smartphones, and the strength of the yen. The group’s results – and its 2013 forecast – fell well short of analysts’ forecasts. Continue reading »