Canon's recent acquisition of Toshiba's medical equipment unit has helped spur strong first fiscal quarterly financial results for the camera company, and as a result it has increased its full 2017 operating profit forecast. In January, Canon estimated that it would see a yearly profit of 255 billion Yen; following the favorable Q1 2017 results, the company now estimates the profits will be higher at 270 billion Yen. However, the company's outlook on 2017 camera unit sales are gloomier, with ILC unit sales dropping 7% and compacts down 13%, working out to -9% overall.
Overall, the company saw a year-on-year Q1 operating profit increase of nearly 89%, rising from 40.09 billion Yen in Q1 2016 to 76.67 billion Yen this past first quarter. According to Reuters, Canon Executive VP and CFO Toshiz Tanaka stated during the company's earnings conference that mirrorless cameras are helping drive the company's camera sales. The company's financial report notes that 'healthy demand' for Canon's EOS 5D Mark IV has helped drive the company's interchangeable lens camera sales. First quarter revenue from camera sales were up over 7%, though unit sales were unchanged since Q1 2016.