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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read New York Earth Day celebrates with "virtual" forests 11:02am EDT At least 70 dead in Syria's bloodiest day of unrest 3:59pm EDT Texas governor calls for prayers for rain amid fires 21 Apr 2011 British tourist saves toddler in four-story fall 21 Apr 2011 Iraq must decide in "weeks" on U.S. troops: Admiral Mullen 2:45pm EDT Discussed 108 Texas governor calls for prayers for rain 100 Palin returns with feisty, anti-establishment speech 51 Team to probe oil market fraud, manipulation: Obama Watched ローマ法王は日本のため祈る、世界各国で市民が弔問(字幕・13日) Mon, Mar 14 2011 VW unveils new sporty Beetle Mon, Apr 18 2011 Size matters at New York Auto Show Thu, Apr 21 2011 SMALL BUSINESS Entrepreneur's Edge: Instant translation on your smartphone When Otavio Good released the first video of his Word Lens translation app in use, it became a viral phenomenon. Since then he's been busy recruiting programmers to help roll it out to include more languages beyond the original Spanish. Full Article | Video New app calculates calories through photos of food Common budget mistakes for tech startups Canon Q1 operating profit to fall, forecast to be cut: report Tweet Share this TOKYO (Reuters) - Canon will likely report an 8 percent fall in first-quarter operating profit and lower its full-year forecast, reflecting the impact from Japan's devastating earthquake, the Nikkei newspaper reported on Friday. Canon, which... Email Print Related News GE's profit beat fails to stir Wall Street Thu, Apr 21 2011 Nokia sees weaker times after strong first quarter Thu, Apr 21 2011 Apple crushes forecasts again, iPad backlogged Wed, Apr 20 2011 WRAPUP 5-U.S. manufacturers see improving economy ahead Wed, Apr 20 2011 Dow ends near 3-year high and Apple jumps after earnings Wed, Apr 20 2011 Analysis & Opinion Morgan Stanley deal redoubles pressure to improve What goes down, must come up: GE’s latest tax bill Related Topics Technology » Media » Stocks The logo for Canon Inc. is projected at the company showroom in Tokyo October 27, 2010. Credit: Reuters/Issei Kato TOKYO | Fri Apr 22, 2011 7:41am EDT TOKYO (Reuters) - Canon will likely report an 8 percent fall in first-quarter operating profit and lower its full-year forecast, reflecting the impact from Japan's devastating earthquake, the Nikkei newspaper reported on Friday. Canon, which competes with Sony and Nikon in cameras, was forced to suspend operations at its main camera factory on the southern island of Kyushu in March, due to a shortage of parts following the quake and tsunami. Low operating rates at the firm's factories will likely continue through June, given low domestic demand and continuing supply woes, and profits are also being pressured by the strong yen, the Nikkei said. Canon's January-March operating profit will likely come to about 80 billion yen ($977 million), down from 86.8 billion yen in the same period a year earlier, the newspaper said, without saying where it got the information. Canon declined to comment on the report. The company, which is scheduled to announce its earnings results on Tuesday, is also expected to lower its full-year forecast, which is for operating profit to rise 21 percent to 470 billion yen, the paper said. The newspaper said Canon's 2011 profit is now expected to fall from last year, when it recorded an operating profit of 387.6 billion yen. Canon's business year runs from January to December. The consensus estimate for full-year operating profit is 396.5 billion yen, based on six analysts polled by Thomson Reuters I/B/E/S since the March 11 disaster. Macquarie cut its target price on Canon to 5,000 yen from 5,500 yen, but retained its "outperform" rating, saying that recovery could be expected from June. Shares of Canon were down 2.3 percent, compared with a 0.5 percent fall in the benchmark Nikkei average (Reporting by Isabel Reynolds; Editing by Nathan Layne and Chris Gallagher) Technology Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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