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Creating New Value and Solving Social Issues

Material Issues

For Canon to realize its corporate philosophy of kyosei and to move forward with stakeholders, it is important to leverage the competitive advantage of its technologies in the development of products and services that meet the needs of the changing times.

Superior technology is part of the DNA of Canon. Since its foundation, Canon has always put a high value on utilizing unique technologies to create and deliver innovative products to the world. Starting with cameras, this history has involved applying a wealth of optical technologies to the development of multifunction devices and semiconductor lithography equipment. Canon’s proprietary technologies have also been utilized to create laser printers, inkjet printers and varied other products to expand the business into new areas. Besides the development of new products, Canon’s strengths include the application of superior production technologies and other manufacturing know-how to enable the in-house production of key components and manufacturing equipment using automated assembly processes. The resulting high reliability and performance of Canon products creates new added value while also helping to address various societal issues.

To respond to the increased pace of technological evolution in today’s rapidly changing society, Canon is building on its strong in-house technical development capabilities by targeting mergers and acquisitions in fields that are compatible with existing businesses. The addition of new areas of technical expertise to the Group has enabled the establishment of new businesses in the four areas of commercial printing, network cameras, medical and industrial equipment. Looking ahead, amid the digital transformation of society and other trends such as development of smart infrastructure, Canon will continue to seek to bring in new technologies from outside and to combine these with proprietary Group expertise, creating further innovations while also helping to realize a sustainable society.

The results of Canon’s stakeholder questionnaire survey identify areas where stakeholders expect the most from Canon in terms of “Creating New Value and Solving Social Issues.” In descending order, these are: development of medical technology that contributes to human health and disease prevention; advanced security technology to contribute to the safety and security of society; development of products/ technologies that lead to affluence and delight for people in the fields of photography and imaging; and development of products and services that anybody can use easily. Based on the specific concerns that stakeholders have highlighted, Canon is engaged in a range of business initiatives to support and promote the shift to a digital society that realizes safety, peace of mind, comfort and affluent lifestyles for all. At the same time, we are also working to contribute to advances in healthcare and the development of imaging technology for industrial applications.

Risks and Opportunities

Major societal change carries the risk of Canon’s business strategy no longer being fully aligned with market needs, but also creates opportunities to create new value as times change. Canon aims to be a company that makes a continuous social contribution by leveraging the technologies that are its source of competitive advantage.

Canon will formulate strategies to address these material issues while working daily to implement various initiatives, taking into consideration the risks, opportunities, strengths and weaknesses in each of its four business segments (Printing, Imaging, Medical, Industrial). Please refer to the Business Strategy section for more details.

Approach

  • GRI102-11
  • GRI102-15
  • GRI103-1
  • GRI103-2
  • GRI103-3

Canon started a new five-year business plan (Phase VI of the Excellent Global Corporation Plan) in 2021. Under a policy of “accelerating our corporate portfolio transformation by improving productivity and creating new businesses,” we will reorganize our businesses into broader, industry-specific categories, and combine each of their technologies to create what we call “chemical reactions” within the company to provide a variety of products and solutions. To this end, we will reorganize our entire operations into four groups of “Printing,” “Imaging,” “Medical,” and “Industrial,” concentrating our diverse and dispersed resources to raise the productivity and quality of divisions related to new product development and manufacturing, and enable prompt decision-making by unifying responsibility and authority.

This will allow to higher synergies via the sharing of technologies and information without barriers which we will link to raising product competitiveness and creating entirely new growth drivers.

Relationship with SDGs

Working with customers and business partners through business activities that are focused on developing technology-led products and services, Canon is contributing to the achievement of the United Nations’ Sustainable Development Goals (SDGs).

  • 3 GOOD HEALTH AND WELL-BEING
  • 9 INDUSTRY, INNOVATION AND INFRASTRUCTURE
  • 11 SUSTAINABLE CITIES AND COMMUNITIES
  • 17 PARTNERSHIPS FOR THE GOALS

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