Canon Corp.
JMR has just issued an update to its Canon Corp. case available
here (in Japanese) for subscribers to the Japanese site.
In the FY ended Dec, 2009, Canon's consolidated sales fell 21.7% year-on-year to Yen 3.2 trillion on the back on of plummeting operating profits of Y217 billion, a 56.2% yearly decline. This is the first time since the end of WWII that Canon's sales have decline in the key developed markets of U.S., Europe and Japan. The Yen-to-Dollar exchange pummeled sales overseas. Consumer demand weakness for Canon's digital camera and ink-jet printers hurt sales as well. Meanwhile, sales of business and industrial products such as laser printer, office equipment, semiconductor memory were also negatively affected by the overall business mood.
In 1996, Canon's president Fujio Mitarai initiated the so-called "Excellent Global Corporation Plan", with the aim to diversify operations, the establishment of new production methods, and the development of a healthy growth strategy. 2010 marks the final stage of this plan and Canon is confident to improve its business results faster than the overall economic recovery.
Sample of page 1 of the case
to enlarge click picture
