Avidia Bancorp CEO Cozzone buys $49,986 in shares
Investing.com - Canon Inc remains the most heavily shorted stock in Japan’s tech sector with approximately $1.9 billion in accumulated short positions, equivalent to about 19 days to cover, according to a Mizuho research note released Monday.
The camera and printer manufacturer reports third-quarter results after market close Monday, with Mizuho analysts suggesting the company will struggle to exceed expectations despite conservative currency assumptions of 142 yen per U.S. dollar.
Canon’s second quarter benefited from tariff-related pull-in demand across printers and cameras, but industry shipment data has since shown weakening monthly figures across multiple regions including the United States, China, and Europe, with an apparent shift toward lower average selling price products.
Mizuho noted that Canon is still only assuming a 10% U.S. tariff versus the actual 15% rate, potentially creating additional headwinds for the company’s performance.
The company has already completed 300 billion yen in share buybacks through three separate 100 billion yen rounds, exceeding Mizuho’s net profit forecast of 292 billion yen (versus consensus estimates of 316 billion yen) before factoring in planned dividends, suggesting Canon likely won’t conduct additional buybacks following third-quarter results, with focus shifting to shareholder return strategy in its new medium-term plan expected in January.
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