By Aiko Wakao
TOKYO, Jan 25 (Reuters) - Canon Inc. (7751.T: Quote, NEWS , Research) is expected to report a 15.5 percent rise in quarterly profit and to forecast an eighth year of record earnings in 2007 on robust sales of digital cameras and colour copiers, as well as a weak yen.
Analysts expect most Japanese precision gear makers will post solid earnings for the most recent quarter, with Olympus Corp. (7733.T: Quote, NEWS , Research) and Nikon Corp. (7731.T: Quote, NEWS , Research) possibly beating targets and Fujifilm Holdings Corp. (4901.T: Quote, NEWS , Research) raising annual estimates.
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Operating profit at Canon, the world's top camera and copier maker, may rise to 195.5 billion yen ($1.62 billion) for the October-December period from 169.3 billion yen a year ago, according to five analysts surveyed by Reuters Estimates.
The market also expects Canon's annual profit to total 771.7 billion yen in the year to December, up 12 percent from the company forecast of 691 billion yen for calendar 2006.
"For Canon, it's strong sales in copiers, printers and cameras again," said Keishin Mo, an analyst at Shinko Securities.
The weaker-than-expected yen, especially against the euro, also boosted sales at Tokyo-based Canon and its domestic rivals, which earn most of their earnings outside their home market.
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