QUOTE AND NEWS
Insurance Journal  Jul 13  Comment 
Firefighters were expecting a wildfire burning near Coaldale to grow Wednesday in dry, windy weather but crews are working toward getting the blaze contained near the town between Canon City and Salida. However, the Hayden Pass Fire, which has...
Wall Street Journal  Jun 30  Comment 
Japanese regulators warned Canon that the way it acquired Toshiba’s medical-systems unit potentially violated the law, but said the deal can go ahead.
guardian.co.uk  May 26  Comment 
Religion itself thrives in places where liberal individualism fails. That’s the real clash of civilisations The so-called “masters of suspicion”, Nietzsche, Marx and Freud, all thought that religion would wither and die in the 20th century....
SeekingAlpha  May 12  Comment 
Japan Today  Apr 26  Comment 
Canon said Tuesday its net profit for the three months to March dropped 17.5% as it downgraded its full-year profit and sales forecasts due to China's economic slowdown and the yen's strength. The camera and office equipment giant reported a 28...
Forbes  Apr 13  Comment 
Rick Honeycutt's success defies so many conventions within the entrepreneurial canon that it's hard to pick which part of his tale merits telling first. As a salesman, he's not supposed to be good with software. As somebody without a college...
New York Times  Apr 1  Comment 
The collective weight of all post-9/11 C.I.A. memoirs could collapse a bookshelf, but Douglas Laux brings a raw perspective to the canon.
New York Times  Mar 31  Comment 
Because he’s become part of the canon, with auction prices to match, but there are still places — The New York Times is one — where his most sexually charged photographs are considered too transgressive for reproduction.
Japan Today  Mar 17  Comment 
Japan's Toshiba has sold its medical devices unit to camera and office equipment maker Canon for 665.5 billion yen, it said Thursday, as it sheds businesses to recover from a major accounting scandal. The deal came as Toshiba's share price...




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Canon develops, manufactures and sells a wide lineup of copying machines, printers, cameras, optical products, industrial equipment and other products to meet a diverse range of customer needs. The Company has developed its business activities on a global scale. Canon is a registered trademark in over 180 countries and regions around the world. Canon first began implementing its Excellent Global Corporation Plan in 1996, and has since delivered a series of strong performances. In fiscal 2006, the inaugural year of Phase III of the Plan, Canon achieved record earnings and marked its seventh consecutive year of growth in both sales and net income. With the spread of globalization and broadband networks, Canon stands poised to lead a new era in digital imaging and highly effective communication. In addition to strengthening business results for enhanced corporate value, the Company engages in a number of environmental and social contribution activities and focuses on fulfilling its duties to investors and society by stressing good corporate governance.

In the Camera segment, Canon faces Nikon, Olympus, Pentax and Sony (SNE). While with Office Imaging Products, Canon faces Xerox (XRX), HP and others. Finally, the Computer Periphicals segment is the most competitive with many companies offering similar products like printers and scanners.

Trends and Forces

Yen appreciation against Dollar

Canon is embroiled with various foreign exchange forces and due to that fact, it was in early 2008 exposed to an extreme sell-off in the stock due to concerns about a stronger yen affecting profits in 2008. The yen continued appreciating against the dollar through mid-March but the stock has instead appreciated year-to-date as you can see from the chart below. Canon has due to this reason appreciated in value and in the recent weeks increasing almost 30% since early February and 13.48% since the end of 2007.

Image: Canonusdjpychart.jpg

As the graph shows us that the stock has been significantly undervalued over the last year due to a weak yen, however with the yen going up recently, this trend is expected to benefit CAJ.




References

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