Canon, seeking to become a truly excellent company that is admired and respected around the world, launched the medium-to-long-term Excellent Global Corporation Plan in 1996 and has successfully completed the first four phases of this plan. In Phase V, we are implementing seven key strategies as we embrace the challenge of new growth through a grand strategic transformation.
Strengthen domestic mother factories by further promoting a higher ratio of production in Japan and the integration of design, procurement, production-engineering and manufacturing-technology operations. At the same time, pursue total cost reductions through the promotion of such advanced production-engineering technologies as robotics and automation.
Create and expand new businesses by accelerating the horizontal expansion of existing businesses. Additionally, concentrate management resources and make effective use of M&A to accelerate the expansion of promising business areas such as commercial printing, network cameras and life sciences.
Review existing sales organizations and reinforce omni-channel marketing that integrates online and brick-and-mortar sales routes while strengthening and expanding solutions-driven businesses with the aim of solving issues faced by customers. Additionally, continue focusing energies on cultivating markets in emerging countries.
Discard the strict notion of self-sufficiency and construct an R&D system that proactively leverages external technologies and knowledge, promoting joint and contract research with various partners such as domestic and foreign universities and research institutes.
Promote the acquisition of promising businesses through active M&A and complete the Three Regional Headquarters management system, under which Japan, the U.S. and Europe will each roll out businesses globally.
Build a global management system targeting the optimal use of human resources in operations worldwide. Examine personnel worldwide to identify candidates for senior management positions and develop the skills of these future leaders by rotating them through key positions in Japan and overseas
Revitalize the enterprising spirit and San-ji (Three Selfs) Spirit at the heart of Canon’s corporate culture.
To strengthen its financial structure, Canon transformed its mindset to a focus on total optimization and profitability. The company introduced various business innovations, including the selection and consolidation of business areas, and reform activities in such areas as production and development.
Aiming to become No. 1 in all major business areas, Canon focused on strengthening product competitiveness along with the changing times, stepping up efforts to digitize its products. The company also conducted structural reforms across all Canon Group companies around the world.
Canon moved ahead with such growth strategies as enhancing existing businesses and expanding into new areas while also thoroughly implementing supply chain management and IT reforms.
Responding to weakness in the global economy, Canon revised its management policy from a strategy targeting expansion of scale to a strategy aimed at further strengthening its financial structure. While actively pursuing M&A activities, the company restructured its business at a foundational level to introduce new growth engines for future expansion.