Canon Group Announces Restructuring in Japan
December 23, 2014     Japanese 
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Canon Group Announces Restructuring in Japan - JCN Newswire
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Canon Group Announces Restructuring in Japan

Tokyo, Dec 26, 2003 - (JCN Newswire) - Canon Inc. (TSE: 7751) today announced restructuring plans for three domestic Canon Group companies, effective January 1, 2004. The restructuring, which involves the merger of two companies and the spinning off of a division of the third company, targets the improved efficiency and specialization of business operations while facilitating the pursuit of independent businesses.

1. Merger of Canon Precision Inc. and Hirosaki Seiki, Inc.
On January 1, 2004, Canon Precision Inc. ("Canon Precision"), a wholly owned subsidiary of Canon Inc., will merge with Hirosaki Seiki, Inc. ("Hirosaki Seiki"), a wholly owned subsidiary of Canon Precision Inc. Canon Precision, the surviving company, will absorb Hirosaki Seiki. Following the merger, the company will be named Canon Precision Inc. and operations will be transferred to Hirosaki City, Aomori.

Canon Precision, established in 1952, develops and markets DC micromotors and ultrasonic motors. The company had 80 employees as of December 2002, and recorded net sales of approximately Y61.5 billion in fiscal 2002.

Hirosaki Seiki, established in 1973, manufactures motors developed by Canon Precision as well as toner cartridges and clear-mold packages for sensors. The company had 940 employees as of December 2002, and recorded net sales of approximately Y36 billion in fiscal 2002.

Overview of company following merger

Company name: Canon Precision Inc.
Date of merger: January 1, 2004
Business activities: Development, production and sales of motors; Manufacture of toner cartridges and sensors
Address: 4-1 Seinofukuro 5-chome, Hirosaki-shi, Aomori
President: Minoru Yoshikawa
Capital: Y 300 million
Equity structure: Canon Inc.: 100%
Number of employees: 1020
2. Separation of Canon N.T.C., Inc.
On January 1, 2004, Canon N.T.C., Inc. ("Canon N.T.C."), a wholly owned subsidiary of Canon Inc., will spin off its environmental business operations into a newly established company. Following the separation, Canon N.T.C. will focus its energies on its semiconductor equipment-related business and will receive a new company name.

Canon N.T.C.'s business activities include semiconductor device-related equipment involving high-precision processing unit components; the reuse and recycling of office equipment and used toner cartridges; and material printers for non-paper printer applications, including tubes and memory boards. The company had 580 employees as of June 2003, and recorded net sales of approximately Y34.5 billion in fiscal 2002.

Overview of environmental business company

Company name: Canon Ecology Industry Inc.
Date of merger: January 1, 2004
Business activities: Recycling of Canon office equipment and consumables
Address: 1234 Matate,Iwai city, Ibaraki
President: Kenji Mori
Capital: Y 10 million
Equity structure: Canon Inc.: 100%
Number of employees: 160

Overview of semiconductor equipment-related company

Company name: Canon Semiconductor Equipment Inc.
Date of merger: January 1, 2004
Business activities: Development and production of semiconductor equipment-related products
Address: 1234 Matate,Iwai city, Ibaraki
President: Kenji Mori
Capital: Y 70 million
Equity structure: Canon Inc.: 100%
Number of employees: 420

About Canon Inc.

Canon Inc. (TSE: 7751; NYSE: CAJ), headquartered in Tokyo, Japan, is a leader in the fields of professional and consumer imaging equipment and information systems. Canon's extensive range of products includes copying machines, inkjet and laser printers, cameras, video equipment, medical equipment and semiconductor-manufacturing equipment. With approximately 170,000 employees worldwide, the company has manufacturing and marketing subsidiaries in Japan, the Americas, Europe, Asia and Oceania; and a global R&D network with companies based in the United States, Europe, Asia and Australia. Canon's consolidated net sales for fiscal 2009 (ended December 31, 2009) totalled $34.9 billion (at an exchange rate of JPY92 = US$1). Visit the Canon Inc. website at: www.canon.com/index.html.

Contact:

Canon Inc.
Andrew Giles
giles.andrew@canon.co.jp
+81 (0)3 5482-8317

 


Dec 26, 2003
Source: Canon Inc.

Canon Inc. (TSE: 7751) (U.S: CAJ)

From the Japan Corporate News Network
http://www.japancorp.net
Topic: Company reorganization


 
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