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 emphasizing production in Japan and integrating design, procurement, production-engineering and manufacturing-technology operations. Reduce costs through robotics, automation and other production-engineering technology.
Create and expand new businesses by accelerating the horizontal expansion of existing businesses. At the same time, concentrate management resources, including the use of M&A, to accelerate the expansion of promising business areas.
Review existing sales organizations and reinforce omni-channel marketing that integrates online and conventional sales routes. Strengthen and expand customer-driven solutions businesses and focus 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 M&A and complete the Three Regional Headquarters management system, under which Japan, the U.S. and Europe utilize each region’s strengths to establish comprehensive and efficient management.
Optimize use of human resources in operations worldwide. Evaluate personnel around the globe 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 in our corporate DNA and the San-ji (Three Selfs) Spirit, which have been the guiding principles of growth since our foundation, and complete a grand strategic transformation.
Today, there is a growing need for AI- and IoT-related software to make products more competitive and support manufacturing sites. In 2018, the Canon Institute of Software Technology (CIST) was established to develop the next generation of software engineers. This facility offers an extensive curriculum, including courses for new employees and those transitioning to new fields, as well as training to enhance engineering skills and cultivate top engineers who can lead businesses. Aiming to elevate the expertise of our engineers and strengthen our product development capabilities, we plan to add new courses covering such diverse topics as data science, AI and information security.
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.