Tokyo  - Canon Inc on Wednesday reported a 91-per-cent decline in its net profit in the fourth quarter while it also forecast its lowest earnings in 10 years for 2009 because of the strength of the yen and price declines.

The world's largest camera maker said it expected its earnings for the current year to fall 68.3 per cent from last year to 98 billion yen
(1.1 billion dollars).

Operating profit would drop 67.7 per cent to 160 billion yen while sales would sink 14.5 per cent to 3.5 trillion yen, the Tokyo-based electronics company said.

Tokyo - Sumitomo Mitsui Financial Group Inc, Japan's third-largest bank, on Wednesday reported a 74-per-cent decline in profits for the first nine months of the fiscal year.

Net profit for April through December dropped to 83.4 billion yen (934 million dollars) after 319.5 billion yen in the same period last year.

Responsible for the slump were a radical rise in credit costs as well as losses generated by dropping stock values, the company said.

Operating profit dropped from 3.2 trillion yen to 2.8 trillion yen year-on-year.

Tokyo - Tokyo ended Wednesday trading mixed after strong gains the previous day as investors retreated on concerns over dire earnings forecasts by leading Japanese companies.

The benchmark Nikkei 225 Stock Average was up 45.22 points, or 0.56 per cent, to 8,106.29 after posting losses earlier in the day.

Most investors had accepted that the outlook for the upcoming earnings reports of Japanese companies for the business year running through March was dire, traders said.

Tokyo  - Mitsubishi is to begin trials in Europe with the iMIEV, the egg-shaped city car which goes on sale in Japan this summer.

According to the carmaker's German importer in Hattersheim, the tests will help designers gauge whether the battery-powered sub-compact is suitable for the European market where it could be offered from 2010.

Only 12 Mitsubishi prototypes will be put through their paces, with the number divided between Spain, the Netherlands and Britain. Trials in other countries are set to follow.

Tokyo  - Tokyo ended Wednes

Tokyo  - Japanese electronics giant Panasonic Corp is likely to report its first annual net loss in six years, the business daily Nikkei said Wednesday.

The Osaka-based electronics company is expected to post a net loss of 100 billion yen (1.12 billion dollars), triggered by rising restructuring costs, a price slump in electronics and the yen gaining ground against the dollar.

Panasonic had to revise its earnings forecast for the business year ending March down several times from the originally predicted net profits of 310 billon yen.