Some radical changes undergoing Canon as a whole have been reported at the latest Company Strategy Conference. Thanks to EdinaMN for the tip.

Mr. Fujio Mitarai’s speech at the conference highlights the difficulties Canon has to face as a global company. What Mr. Mitarai outlines is a corporate reorganization plan which defines four new business domains where Canon is going to be active: printing, industrial equipment, medical, and optical industry. Canon calls this process changing from a product group to a industry group business structure (see image on top). In Mr. Mitarai’s words:

The newborn “Optical Industry” involves three main areas, the existing camera business, network cameras, and other optical devices like Canon’s specialized cameras for scientific applications or mixed reality technology.

It’s the third business area in the image above that seems to hold most of Canon’s hopes for the future:

Canon clearly states that the “camera market has contracted significantly due to advances made in smartphone image capture functions” and that the “broader optical industry is a promising growth area for imaging devices that comprise mainly lenses and sensors“. The image below gives ore insights.

All in all, Canon seems to be optimistic about the future. All material related to Canon’s Company Strategic Conference, including Mr. Fujio Mitarai’s speech, can be found here and are available for download.

Good to see that Canon makes achievements in domains that are not related to imaging technologies.

Canon press release:

Canon U.S.A. Recognized as One of the World’s Most Ethical Companies for the Fourth Consecutive Year by The Ethisphere Institute

MELVILLE, NY, March 1, 2021– During a time when it has been crucial for companies to prioritize the values and needs of their customers and employees, Canon U.S.A., Inc., a leader in digital imaging solutions, has remained committed to developing solutions that are designed to support ever-changing business needs. Reflecting this commitment, Canon U.S.A. is proud to share it has been recognized as one of the 2021 World’s Most Ethical Companies for the fourth consecutive year by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.

Of the 135 honorees spanning 22 countries and 47 industries, Canon U.S.A. is the only company to be recognized within the Imaging Technology industry category, showcasing the company’s strong global standards, business integrity, corporate citizenship and overall brand value. As a result of the company’s positive influence, impact in business communities, and ongoing support during COVID-19, Canon U.S.A. stands out amongst others to the Ethisphere Institute.

“While addressing the tough challenges of 2020, we saw companies lead – above all other institutions – on earning the trust of stakeholders through resilience and a commitment to ethics and integrity,” said Timothy Erblich, CEO, Ethisphere Institute. “The World’s Most Ethical Companies honorees continue to demonstrate an unwavering commitment to the highest values and positively impacting the communities they serve. Congratulations to everyone at Canon U.S.A. for earning the World’s Most Ethical Companies designation.”

Rooted in Ethisphere’s proprietary Ethics Quotient®, the World’s Most Ethical Companies assessment process includes more than 200 questions on culture, environmental and social practices, ethics and compliance activities, governance, diversity and initiatives to support a strong value chain. The process serves as an operating framework designed to showcase the leading practices of organizations across industries around the world. This year, the process was streamlined and set to further gauge how applicants are adapting and responding to the global health pandemic, environmental, social, and governance factors, safety, equity and inclusion, and social justice.