Canon Reveals Ambitious Future Growth Strategy

Canon Reveals Ambitious Future Growth Strategy

Despite the digital transformation trend, Canon believes demand for printing will remain firm as paper has long been a medium for deepening understanding and sharing information.

Canon claimed it is aiming for a stable sales growth of around 4%-5% per year, driven by growth in commercial and industrial presses. The OEM also revealed its future growth strategy for office & home printing, which include:

• To become No.1 in office & home printing

“We will further raise our price competitiveness, pursuing cost reduction through various measures, including the consolidation of product platforms, production automation, and in-house production. We will also use the cloud to centrally connect to our MIF, including inkjet printers, to provide smart services for predictive maintenance, failure diagnosis, and repair. We will also offer other printing solutions in response to the era of digital transformation. We will increase our market share and aim to become the world’s No. 1 office and home printing company,” said Mitarai, Chairman & CEO of Canon.

• Accelerate the growth of commercial & industrial printing

“Over the next few years, we plan to expand our lineup by introducing products in areas that we have not been able to cover before. We will also make all-out efforts to introduce new competitive products in the field of industrial printing, such as labels and packaging,” said Mitarai.

For Financial, Canon claims that its basic policy is to maintain a sound financial position through strict cash flow management.

“In the future, we will devote more than 200 billion yen every year to capital investment and carry out necessary M&As. And, from 2023, when the repayment of borrowings is completed, we aim to achieve a dividend payout ratio of 50%, and we will return our business performance to the level of 160 yen per share as soon as possible by carrying out the business strategies mentioned above,” said Mitarai.

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• Canon Closes Zhuhai Factory
• Canon Stops Using Chips in Printer Cartridges
• Canon Sued for Scanning Failure
• Canon Wins Lawsuit in Russia

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