Canon 2013 Annual Report Download - page 49

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FINANCIAL OVERVIEW 47
• Exploring a New Dimension of Cost Reductions
Canon will strive to further accelerate procurement
reforms as well as expand in-house production and
promote automation. Additionally, the Company will
work to significantly reduce product development times
and achieve cost savings, promoting prototype-less pro-
duction through the utilization of its super computer.
Furthermore, it will move forward with the fundamen-
tal reform of manufacturing through the utilization of
3D printers.
In addition to the above, in order to return to a path of
growth in the face of the dramatically changing business
environment, Canon will select and concentrate on techno-
logical themes that will open the way to the future, further
enhance product quality management, effectively make use
of the Company’s workforce, and carry out reforms such as
thoroughly strengthening information security.
Forward looking statements
The foregoing discussion and other disclosure in this report
contains forward-looking statements that reflect manage-
ment’s current views with respect to certain future events
and financial performance. Actual results may differ materi-
ally from those projected or implied in the forward-looking
statements. Further, certain forward-looking statements are
based upon assumptions of future events that may not prove
to be accurate. The following important factors could cause
actual results to differ materially from those projected or
implied in any forward-looking statements: foreign currency
exchange rate fluctuations; the uncertainty of Canon’s abil-
ity to implement its plans to localize production and other
measures to reduce the impact of foreign currency exchange
rate fluctuations; uncertainty as to economic conditions in
Canon’s major markets; uncertainty of continued demand
for Canon’s high-value-added products; Canon’s ability to
continue to develop products and to market products that
incorporate new technology on a timely basis, are competi-
tively priced, and achieve market acceptance; the possibil-
ity of losses resulting from foreign currency transactions
designed to reduce financial risks from changes in foreign
currency exchange rates; and inventory risk due to shifts in
market demand.