Canon Plunges Most in Eight Years After First Quarterly Loss

Bloomberg

Published Jul 29, 2020 01:24

Updated Jul 29, 2020 01:45

(Bloomberg) -- Canon Inc. dived the most in eight years after reporting the first quarterly loss in its history, as Covid-19 dampened the global economy.

The Japanese firm’s shares slid as much as 10.7%, the biggest decline on an intraday basis since July 2012. Demand declined rapidly and business activity was “restrained” amid the coronavirus outbreak, it said in a statement Tuesday.

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