Canon cultivates critical new ventures, report suggests

Canon is broadening their investments. Nikkei Asian Review reports:

Canon takes synergy with its new businesses seriously. It has to. Old core businesses such as camera and office equipment have matured, and the company has leaned into mergers and acquisitions in new fields. Canon’s future growth depends largely on how well the company can raise the seeds it has planted, and they have been slow to bear fruit.

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Canon elevated medical operations to core status this month and installed Toshiba Medical President Toshio Takiguchi at the helm. Takiguchi also received swift appointment as a senior managing executive officer at Canon — unusual treatment for the head of an acquired company.

The electronics giant aims to couple its technology in fields such as genetic testing with Toshiba Medical’s product-making experience and sales channels. The parent also seeks to expand into new territory in which Toshiba Medical has worked, including in-vitro diagnostics. Mitarai has gone so far as to say control of Canon’s medical wing could pass to Toshiba Medical if necessary.

Read the report at Nikkei Asian.