Foundation: 1937
Headquarters: Ota Ward, Tokyo
Chairman & CEO: Fujio Mitarai
Executive Summary: Canon specializes in the manufacturing of imaging and optical products, including cameras, photocopiers, scanners, computer printers, and medical equipment. Canon originated from its predecessor, the Precision Optical Instruments Laboratory, founded in 1933. The following year, the company introduced the first Kwanon lenses, which were Japan’s first 35mm cameras with a focal-plane shutter. After the success of these lenses, the company was renamed Precision Optical Industry, Co., Ltd. in 1937. Takeshi Mitarai, one of the founders, became president in 1942, and his nephew currently serves as Chairman and CEO of Canon.
The company endured significant damage from the firebombing of Japanese cities in 1945 but managed to recover. In 1947, it was renamed again, this time to Canon Camera Co., Inc. A major challenge for the company was establishing a distinct brand identity, as its cameras were assembled from parts supplied by numerous manufacturers. Canon sought a name that would stand out in product catalogs.
In 1955, Canon opened its New York branch office, marking the beginning of its international expansion and subsequent global recognition. In recent years, Canon has established a strong reputation as a leading manufacturer of DSLR cameras. The company’s annual revenue is in the range of US$30 billion.
