Canon CEO Reports Strong Year; Company Also Expanding into New Businesses
Last week, the Nikkei Asian Review interviewed Chairman and CEO Fujio Mitarai of Canon Inc. of Tokyo, Japan, who revealed that Canon is expanding its new businesses – such as a medical business acquired from Toshiba – that it expects will generate nearly one-third of sales in the next few years. The company will also be looking to expand from digital cameras and copiers into factory equipment.
Mitarai told the Nikkei Asian Review that last year Canon enjoyed a “strong year” for cameras, office equipment, and other existing businesses. He said that new business segments, such as health care and industrial equipment, also boosted both sales and profit.
As for its mid-term plan that runs to 2020,Mitarai says Canon is seeking to make at least 5 trillion yen ($44.1 billion) in sales, with cameras contributing over 30 percent to that, and office equipment another 40 percent, and new businesses, such as health care, making up the rest.
Mitarai also said that Canon will “further strengthen areas where we’ve already made acquisitions,” and that future purchases will supplement its health care, security-camera, and industrial equipment segments. Canon has set aside 300 to 400 billion yen (approximately $3.5 million U.S.) for this purpose through 2020.
- October 2017: Canon Reports Robust Third Quarter, Raises Forecast
- July 2017: Canon Delivers Second Consecutive Quarter of Upbeat Financial Results
- June 2017: Canon Number-One Last Year in U.S. A3 Copier/MFP Sales
- April 2017: Canon Delivers Stellar Financial Results for First Quarter, Issues Upbeat Forecast
- March 2017: Canon Stresses ‘Commitment to Dealers at One Canon Event
- March 2017: Canon to Use Automation to Lower Laser-Printer Costs, Will Also Expand into Commercial, Package Printing
- January 2017: Tough Year for Canon with Revenue Declines in Many Segments
- January 2017: Canon First Among Japanese Companies in U.S. Patents for 12 Years Running
- October 2016: Canon Discusses Implications of HP’s Acquisition of Samsung Printer Business
- October 2016: Canon: U.S. Workers Print Approximately 75 Billion Pages Annually on Canon Digital Copier/MFPs