Foundation: 1937
Headquarters: Ota Ward, Tokyo
Chairman & CEO: Fujio Mitarai
Executive Summary: Canon specializes in the manufacture of imaging and optical products, including cameras, photocopiers, scanners, computer printers, and medical equipment. Canon emerged originally from its predecessor, the Precision Optical Instruments Laboratory, founded in 1933. The next year, the company produced the first Kwanon lenses. The Kwanon lens was the first ever 35mm camera in Japan with a focal-plane-based shutter. Following the success of the lenses, the company then became the Precision Optical Industry, Co., Ltd. in 1937. Takeshi Mitarai, a company founder, assumed the presidency in 1942, and to this day his nephew is chairman and CEO of Canon. The firm suffered heavy damage in the firebombings of Japanese cities in 1945, but was able to bounce back. In 1947, the company was again renamed, this time to Canon Camera Co., Inc.. Indeed, one significant hurdle the company sought to overcome was branding. Canon cameras were composed of a variety of parts from countless manufacturers. The firm wanted a name that would stand out as consumers eyed their catalogs. In 1955, the New York branch office of Canon opened. With this international expansion soon came global renown and advancement. In recent years it established a strong position as a maker of DSLR cameras. Its annual income is in the range of US$30 billion.
