Canon to spend $12bn on acquisitions by 2015

Jan 11, 2011

Canon plans to spend up to one trillion yen ($12 billion) by 2015 on mergers and acquisitions to expand in the areas of medical equipment and robotics, according to an interview published Tuesday.

Chairman Fujio Mitarai told Kyodo News that the technology firm wanted to expand to achieve higher sales and profits, the news agency said.

Canon will also set up new centres in the United States and Europe for its medical and printing operations, Mitarai said.

"We'd like to actively proceed with mergers and ," Mitarai said, adding that the company had already started selecting companies for possible mergers, according to Kyodo.

The company was interested in medical equipment and gene engineering businesses as well as industrial and nursing-care robots, Mitarai said.

By acquiring the new businesses, the company aims to chalk up group sales of over five trillion yen and a of 500 billion yen in 2015, Mitarai said.

now expects sales of 3.7 trillion yen and a net profit of 245 billion yen for the year to December 2010.

Explore further: LinkedIn to anchor new San Francisco high-rise

add to favorites email to friend print save as pdf

Related Stories

Sony rebounds to profit in April-June quarter

Jul 29, 2010

(AP) -- Sony bounced back to profit last quarter and raised its full-year earnings forecast, fueled by stronger demand for its PlayStation 3 gaming consoles, personal computers and televisions.

Fujitsu back in the black for fiscal year

Apr 30, 2010

Japan's Fujitsu, embroiled in a dispute with its former boss, announced a return to profit Friday after massive losses the previous year as cost-cutting measures offset a decline in sales.

Toshiba profits surge but yen overshadows outlook

Nov 09, 2010

Japanese electronics giant Toshiba said Tuesday its net profit surged in the three months ended September from a year earlier but left its profit outlook unchanged on uncertainties caused by a strong yen.

Panasonic trims net loss, sees return to profit

May 07, 2010

Japanese electronics giant Panasonic Corp. said Friday it saw a net loss of 1.1 billion dollars in the year to March 2010, much smaller than the previous year, and expected to return to profit soon.

Recommended for you

LinkedIn to anchor new San Francisco high-rise

7 hours ago

San Francisco Mayor Ed Lee says the professional networking site LinkedIn will expand its presence in the city by anchoring a high-rise office building under construction.

Comcast 1Q earns beat Street on upbeat NBC result

Apr 22, 2014

Comcast's first-quarter net income rose by nearly a third as ad revenue surged at broadcast network NBC, helped by the Winter Olympics in Sochi and Jimmy Fallon's elevation as host of "The Tonight Show."

User comments : 0

More news stories

Jacket works like a mobile phone

A fire is raging in a large building and the fire leader is sending a message to all firefighters at the scene. But they don't need a mobile phone – they simply check their jacket sleeves and read the message ...

Is nuclear power the only way to avoid geoengineering?

"I think one can argue that if we were to follow a strong nuclear energy pathway—as well as doing everything else that we can—then we can solve the climate problem without doing geoengineering." So says Tom Wigley, one ...

Male-biased tweeting

Today women take an active part in public life. Without a doubt, they also converse with other women. In fact, they even talk to each other about other things besides men. As banal as it sounds, this is far ...

High-calorie and low-nutrient foods in kids' TV

Fruits and vegetables are often displayed in the popular Swedish children's TV show Bolibompa, but there are also plenty of high-sugar foods. A new study from the University of Gothenburg explores how food is portrayed in ...