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Canon reported its second consecutive year of record sales and net profit growth, according to Reuters. Due to strong sales of digital and color copying machines and computer peripherals like printers, group sales grew 7.9 percent to 2.76 trillion yen, while net profit grew 26.2 percent to 118.81 billion yen. 83 percent of all group sales came from office equipment. Canon also plans for capital spending of 240 billion yen, compared with actual spending of 219.8 billion yen in 1997.