Canon: Japan Summit 2026 Feedback: Indication of Growth Potential in Space Business

研报英文原文证据摘录

Canon: Japan Summit 2026 Feedback: Indication of Growth Potential in Space Business

Update

May 21, 2026 12:27 PM GMT

Morgan Stanley MUFG Securities Co., Ltd.+MCanon (7751) | Japan Mie Yamazaki

Equity Analyst

Japan Summit 2026 Feedback: Mie.Yamazaki@morganstanleymufg.com +81 3 6836-8899

Indication of Growth Potential

in Space Business

Canon (7751.T, 7751 JT)

Precision Instruments | Japan

A group meeting was held at our Japan Summit 2026. Topics covered a wide range,

Stock Rating Overweight

including earnings, governance, and growth businesses. In particular, strong investor Industry View In-Line

interest in M&A and investments in growth areas was evident. Price target ¥5,700

Shr price, close (May 21, 2026) ¥4,130

Mkt cap, curr, basic (bn) ¥3,628.7

Canon aims to offset cost increases through self-help measures and Avg daily trading value (bn) ¥16.0

demonstrates commitment to achieving mid-term profitability targets: In

response to margin pressures from rising semiconductor memory and crude oil

prices, the company indicated its intention to achieve the mid-term milestone target

(OPM of 12% for F12/28) through price pass-through and internal efforts. One driver

is semiconductor lithography equipment, where it expects shipments to increase by

20 units YoY in F12/27 (with incremental units for front-end i-line tools), and new

KrF products are expected to contribute to earnings in the medium term.

Under the new management structure, there is a greater focus on fostering

growth areas: In new businesses, the company is promoting initiatives in materials

and space fields, where its core technologies can be leveraged. In the space business

(satellite-related), it views the shift toward private-sector-led business as an

opportunity.