Canon Plunges Most in Eight Years After First Quarterly Loss

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© Bloomberg. Canon Inc. lenses sit on display at the CP+ Camera and Photo Imaging Show in Yokohama, Kanagawa, Japan on Thursday Feb. 28, 2019. The annual camera show in Yokohama runs through March 3. Photographer: Keith Bedford/Bloomberg

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(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.

©2020 Bloomberg L.P.

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