Canon raises profit outlook as weak yen swells earnings

TOKYO (Reuters) - Canon Inc raised its full-year operating profit forecast by $300 million as a weakening yen triggered by Japan's latest deflation-fighting policies inflates its overseas earnings, despite smartphones sapping compact camera sales. For the business year to December 31 2013, the company, which relies on foreign markets for four-fifths of sales, lifted its operating profit forecast to 450 billion yen ($4.53 billion)from 410 billion yen. That compares with the average expectation of a 473 billion yen profit among 21 analysts surveyed by Thomson Reuters. ...

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