Why has Canon become Japan’s most profitable large electronics company?
Because of good-quality products and our brand reputation for quality, but one of the main reasons has to be our approach to R&D. Globally we invest nearly 9% of revenue in R&D and have been in the top five of the US patent register for the last 18 years. In our sector, innovation is essential to always have something to bring to the market. Even during the global recession, our prudence during previous years meant we were able to maintain this investment. Our ability to tightly manage inventory and take quick action, like altering production levels, meant we maintained profitability. When do you predict a meaningful upturn in business conditions in Europe? Major indicators for the eurozone point to a slow recovery, trailing behind US and Asia. We expect 2010 to be weak and are yet to see if the recovery will be self-sustaining, especially given unemployment ratios and some of the fiscal problems of southern Europe. I think it will be well into 2011 before we can be sure of a meaningfu
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