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Company Name: Canon

Description: In 1930, Precision Optical Instruments Laboratory was established by the brothers-in-law Goro Yoshida and Saburo Uchida. Subsequently, the name of the company was changed to Canon. The name was derived by its founders from the first Kwanon camera. Goro

Yoshida chose the name after the bodhisattva Guan Yin’s Japanese name. In the English language, the name means “authoritative scriptures”. O June 26, 1935, the name registered to become the company’s official trademark.

In June 1934, the company released its first camera product called Kwanon. It was said that of the ten units of Kwanon camera made, not even a single camera was sold.

On February 1936, the company then launched its next camera called the Hansa Canon, a standard camera model of the company using the Nokkor 50 mm f/3.5 lens. Furthermore, the camera integrated with the camera the lens designed by Nippon Kogaku Kogyo which later on became known by its more popular name Nikon.

On August 10, 1937, Canon became an incorporated establishment. Presently, the company is jointly led by Fujio Mitarai as Chairman of the Board and Yoroku Adachi as Company President. Additionally, both top executives also share the position of Chief Executive Officer (CEO).

Canon has emerged as one of the leaders in the business posting a profit of 4.156 billion US dollars for the 2006 fiscal year alone. As of 2008, the company holds almost 131,352 employees on all its branches and offices worldwide. The company’s principal headquarters is located in Oya, Tokyo Japan.

Canon is well known when it comes to its camera products and printers with majority of the company’s revenue coming from the company’s office products including their digital and analog copiers.

Canon also started venturing into the design of flat panel TVs by entering into an agreement with Toshiba. In October 2004, Toshiba and Canon then jointly established SED, Inc. that would be responsible for the development and production of the TVs whose designs shall be using the SED technology. On January 2007, the company became wholly owned by Canon after the latter bought the interest of Toshiba in the company.

On August 26, 2008, the company released its latest product called the PowerShot digital camera. The camera provides a longer zoom and better resolution as compared with the previous designs.

The company was not only engaged in the manufacturing and design of products but also has taken active participation in many sports events. The company is responsible for sponsoring some of the world’s favorite sports such as English Football League from 1983 to 1986, the UEFA Champions League from 1995 to 2000 and then 2004 to 2006 and the UEFA Euro in 2004 and 2008, Canon was also the principal sponsor of the Formula 1 Team Williams from 1985 to 1993.

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