Japanese camera maker Canon expects to record a consolidated net profit of about 250 billion yen ($1.9 billion) in fiscal 2022, up 5 billion yen from its outlook announced in January and up about 100 million yen from the previous year. 20% due to strong earnings expectations for semiconductor lithography machines and security cameras.

Canon will report its first-quarter financial results for the January-March period on Tuesday, which will be revised upwards, Nikkei Asia reported. Net sales are expected to rise by more than 10% from the previous forecast, to about 100 billion yen, or nearly 4 trillion yen.

The report pointed out that as semiconductor manufacturers increase capital investment, the overall sales of semiconductor lithography equipment will increase.

At the same time, for inflation, raw material prices rise, Canon will solve this problem by reducing costs and increasing product prices. In addition, Canon's operating income will increase by 4 billion yen for every 1 yen decline in the exchange rate of the yen against the US dollar.