Canon is forging ahead toward grand strategic transformation for new growth.
Video: A grand strategic transformation
Anticipating the market maturity of its core businesses, Canon will use M&A and other management techniques to reconfigure its business portfolio with a focus on BtoB businesses, centered on four new businesses: commercial printing, network cameras, medical, and industrial equipment. Canon is pursuing a company-wide effort to promote a grand strategic transformation for new growth.
Having completed the reconfiguration of its business portfolio, Canon launched Phase VI of the "Excellent Global Corporation Plan" in 2021. The second phase of its grand strategic transformation, Canon is reconfiguring its organization, including group companies, into a new industry-oriented business group structure.
Within the new industry-oriented business group structure, Canon will enhance business competitiveness and encourage innovation by deepening collaboration among the technologies and human resources of each business and group company.
A new company-wide "Frontier Business Promotion Division" was established in 2021. Leveraging all the technologies Canon has cultivated over the years, the division has strengthened efforts to commercialize solutions in the life science and materials businesses, as well as manufacturing technology and component development. In addition, each business group and group company also edits various aspects of Canon's strengths in a wide range of technologies to create new businesses, including solutions that contribute to solving social issues in such industries as space, agriculture, and entertainment.