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Canon to focus on surveillance cameras and medical equipment
09.01.2021 [17:27],
Gennady Detinich

Copiers and office supplies will no longer fill Canon’s budget like they did in the recent past. Surveillance cameras, medical equipment, OLED lighting panel equipment and commercial packaging and label printing will be the growth points of this renowned Japanese manufacturer over the next five years. Business promises to grow, and the company promises to prosper.

Canon CEO Fujio Mitarai. Image source: Yuki Ogata / Nillei

Canon Chairman, President and CEO Fujio Mitarai, 85, spoke about Canon’s plans in an interview with Nikkei. All four priority lines of business are relatively new to the company. The reorganization will take place in April this year, when Japan’s new fiscal year begins. According to plans, only surveillance cameras and medical equipment should bring the company in 2025 more than 40% of consolidated revenue, while in 2021 both of these areas brought Canon 25% of annual revenue.

According to the head of the company, in 2021, Canon’s total sales amounted to 3.14 trillion yen ($ 30.6 billion), which is 13% more than in the previous year. Canon’s new five-year business plan will target Canon sales of 4.5 trillion yen from this year, surpassing the 2021 record. Each of the new lines of business will gain relative independence up to decision-making by the group leaders without consulting the head of the company. Mitarai does not yet have a successor and, probably, the new practice of making independent decisions should reveal a worthy candidate.

In addition, the optical equipment group will expand its product line for industrial use by integrating cameras and software, while increasing sales of cameras for robots and autonomous vehicles, advanced night vision cameras and other products suitable for industry and public infrastructure.