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CANON ANNUAL REPORT 2014
Fiscal Year Ended December 31, 2014

Table of contents

  • Page 1
    C A N O N A N N U A L R E P O R T 2 0 14 F i s c a l Ye a r E n d e d D e c e m b e r 3 1 , 2 0 14

  • Page 2
    ... exchange rate on the Tokyo Foreign Exchange Market as of December 30, 2014, solely for the convenience of the reader. Net Sales (Billions of yen) Net Income Attributable to Canon Inc. (Billions of yen) 4,000 300 3,000 200 2,000 100 1,000 0 2010 2011 2012 2013 2014 0 2010 2011 2012 2013 2014...

  • Page 3
    .... FINANCIAL SECTION 28 SALES & MARKETING 30 CORPORATE SOCIAL RESPONSIBILITY TA B L E O F C O N T E N T S STRATEGY 02 TO OUR STOCKHOLDERS BUSINESS SEGMENT 10 AT A GLANCE 12 OFFICE BUSINESS UNIT 14 IMAGING SYSTEM BUSINESS UNIT 16 INDUSTRY AND OTHERS BUSINESS UNIT 18 2014 TOPICS CORPORATE STRUCTURE...

  • Page 4
    02 TO OUR STOCKHOLDERS Fujio Mitarai Chairman & CEO Canon Inc.

  • Page 5
    ... ratio of 66.8% at the end of 2014, we were able to maintain our sound, essentially debt-free financial structure. Additionally, underscoring our stable and proactive shareholder return pol- 150 100 50 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 * The amount of annual cash dividend per share...

  • Page 6
    ... on the six key strategies explained below, Phase IV calls for proactive, quick reforms ahead of the dramatically changing times, along with the achievement of sound business growth through the further expansion of our corporate scale while maintaining high profitability. 2015 is the final year...

  • Page 7
    ... such products as high-speed continuous feed commercial printers, recorded healthy sales growth. In the growing market for office solutions, we continued strengthening our hardware offerings while improving our ability to provide an extensive range of high-quality "one-stop" services. In the digital...

  • Page 8
    ... boundaries of Japan, Canon is looking to Europe and the United States to contribute to global growth through the creation of new business in terms of both quality and quantity within the framework of the Three Regional Headquarters management system. By maintaining a highly profitable structure, we...

  • Page 9
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 07 Strategy 3 Establishing a world-leading globally optimized production system Based on a comprehensive evaluation of such factors as foreign exchange fluctuations, wages, taxation systems, infrastructure and ...

  • Page 10
    ...waste reduction and efficient resource use. The Volume of Returned Toner Cartridges (Accumulated) (Unit 1,000s of tons) 350 300 250 200 150 100 50 0 We are opening more Canon Image Square retail stores mainly in Asian emerging countries. Visitors at the store can try our products by themselves to...

  • Page 11
    ... hired employees in upper management positions. Especially in Europe, our largest regional market, the presidents of all of our sales companies are from the region. Since 1980, moreover, we have held our Tokyo Seminar management training program for managers of overseas Canon Group companies to...

  • Page 12
    ...Digital Production Printing Systems •Laser Printers •Digital Production Printing Systems •High Speed Continuous Feed Printers •Wide-Format Printers •Document Solutions Laser Printers High Speed Continuous Feed Printers •Interchangeable Lens Digital Cameras •Digital Compact Cameras...

  • Page 13
    ... printers, which are easy to use and produce beautiful pictures at high speeds. 1,000 36.0% 500 0 2010 2011 2012 2013 2014 Applying optical technologies and imageprocessing technologies amassed over many years, Canon provides high-value-added products to a wide range of industries. The Company...

  • Page 14
    ..., sales of office MFDs increased year on year. In digital production printing systems, we released the C800/C700 series, the first color models in the imagePRESS series targeting the light production market. The new models received worldwide acclaim, which 2,000 1,500 1,000 500 0 2012 2013 2014...

  • Page 15
    ... high speed and high quality such as the printing of invoices, direct mail, etc. as demanded by the data print services (DPS) market. Canon's laser multifunction printers (MFPs) and laser printers for small and mid-sized businesses performed well, driven by sales growth in Japan and the Americas...

  • Page 16
    ...1*1 share of the world market. As for digital compact cameras, Canon reported lower sales in both volume and value terms amid a shrinking 500 market, but was successful in raising the sales ratio for high-value-added products. Regarding digital cinema cameras, Canon responded 2012 2013 2014 0 to...

  • Page 17
    ... expand market share. In DreamLabo commercial photo printers, Canon will diversify sales methods including rental and leasing, while building highly profitable business models such as photobook services of editing and bookbinding. 2015 Initiatives In interchangeable lens digital cameras, Canon will

  • Page 18
    ...of increased sales of high-value-added products in its core digital radiography systems operation; for example, high-image-quality wire- 400 300 200 100 0 2012 2013 2014 less models featuring automatic X-ray detection mode. Furthermore, Canon augmented its lineup of network cameras, adding new...

  • Page 19
    ... imaging areas. Canon is focusing on this equipment. world's largest video management software companies, became a member of the Canon Group, further strengthening Canon's network camera business. Sales of document scanners manufactured by Canon Electronics Inc. increased, helped by brisk sales...

  • Page 20
    18 2014 TOPICS OFFICE BUSINESS UNIT IMAGING SYSTEM BUSINESS UNIT imageRUNNER ADVANCE C7270 Office MFD EF lens-series lineup Canon Signed Global Partnership with Volkswagen for Managed Print Services Canon signed a comprehensive agreement with German automobile manufacturer Volkswagen AG, ...

  • Page 21
    ... uses a new three-dimensional recognition technology that Canon has developed based on its optical, image-recognition, and information-processing technologies, which were cultivated through the Company's research and development of cameras and business machines. The RV1100 makes possible high-speed...

  • Page 22
    ... mission held by each executive director and employee is very important for the Company. to production and sales. In addition, the headquarters supports and controls finance and accounting, quality management, global environment, and global legal administration, undertaking administrative functions...

  • Page 23
    ...Inkjet Products Operations Masanori Yamada Group Executive of Network Visual Solution Business Promotion Headquarters Aitake Wakiya Deputy Group Executive of Finance & Accounting Headquarters Akiyoshi Kimura Chief Executive of Office Imaging Products Operations Yoroku Adachi Chairman & CEO of Canon...

  • Page 24
    ... management system and reports the status to the CEO. In addition, the Disclosure Committee undertakes deliberations on information disclosure, including content and timing, to ensure timely and accurate disclosure of important company information. Directors meetings, Corporate Strategy Committee...

  • Page 25
    ...about the quality management system regarding audits. With the aim of monitoring the independence of the accounting auditors, the Company introduced a prior approval system by the Audit & Supervisory Board for contents of auditing and other service contracts and relevant fees. Based on "policies and...

  • Page 26
    .... The ratio of R&D expenses to net sales was 8.3%. This focus on R&D activities has cemented Canon's *IBM is an abbreviation for International Business Machines Corporation. Source: Preliminary data released by IFI CLAIMS Patent Services, a U.S. research company specialized in patent information

  • Page 27
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 25 Canon's 120-megapixel ultrahigh-resolution CMOS sensor for video recording can output full HD video in real time from any approximately one-sixtieth-sized section of its total surface area. Accordingly, images ...

  • Page 28
    ... and extending them in high-value-added products such as assembly of EF lens units. (the Utsunomiya Plant, Japan) In addition to establishing a globally optimized production system, Canon seeks improved quality and productivity by putting a priority on conducting production operations itself to...

  • Page 29
    ...-machine cell" production systems that integrate manual and automated processes. In the Americas and Europe, Canon accelerates localized production of consumables such as toner cartridges by using automated production lines. Our aim is to deliver products timely while reducing transportation costs...

  • Page 30
    ..., Canon secured the top market shares of its main prod- Composition of Sales by Region Asia and Oceania 23.5% ¥876.0 billion The Americas 27.8% ¥1,036.5 billion ucts interchangeable lens digital cameras, compact digital cameras, and inkjet printers; our proactive sales promotion efforts...

  • Page 31
    ... at addressing changing markets and conveying new levels of added value created by Canon. in driving growth in network visual solutions. To appeal to new consumers, a new brand identity was launched- Come and See. A new cloud-based image management service, irista, was also launched in 2014. Canon...

  • Page 32
    ... natural light and installing a rainwater capture and storage system that uses greenery. In February 2014, Canon Americas Headquarters received the Gold certification of the international standard LEED (Leadership in Energy & Environmental Design) as a highly resource-efficient, green building. In

  • Page 33
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 31 The "Eyes on Yellowstone", an education and research program in partnership with Yellowstone National Park, releases videos of wildlife in their natural environment online. These videos are used to educate ...

  • Page 34
    ... for education and engagement projects for young people. Canon Image Bridge "Canon Image Bridge" is an initiative in which Canon China and other members of the Canon Asia Marketing Group serve as a bridge linking elementary and middle school children in Asia by delivering their photo cards. To date...

  • Page 35
    ... BALANCE SHEETS CONSOLIDATED STATEMENTS OF INCOME CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME CONSOLIDATED STATEMENTS OF EQUITY CONSOLIDATED STATEMENTS OF CASH FLOWS NOTES TO CONSOLIDATED FINANCIAL STATEMENTS SCHEDULE OF VALUATION AND QUALIFYING ACCOUNTS MANAGEMENT'S REPORT ON INTERNAL...

  • Page 36
    ... Office Business Unit, the Imaging System Business Unit, and the Industry and Others Business Unit. Summary of operations MFDs and laser printers enjoyed solid demand during the year and industrial equipment sales increased significantly. Within the shrinking market for interchangeable-lens digital...

  • Page 37
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 35 taking into account recent market trends. Gross profit ratio (ratio of gross profit to net sales) is another KPI for Canon. Through its reforms of product development, Canon has been striving to shorten product ...

  • Page 38
    ... to the customer or services have been rendered, the sales price is fixed or determinable, and collectibility is probable. Revenue from sales of office products, such as office MFDs and laser printers, and imaging system products, such as digital cameras and inkjet printers, is recognized upon...

  • Page 39
    ... Japanese plans and 4.9% for foreign plans. In estimating the discount rate, Canon uses available information about rates of return on high-quality fixed-income government and corporate bonds currently available and expected to be available during the period to the maturity of the pension benefits...

  • Page 40
    ... for other foreign currency denominated sales. Cost of sales Cost of sales principally reflects the cost of raw materials, parts and labor used by Canon in the manufacture of its products. A portion of the raw materials used by Canon is Return on Sales (%) 9 6 3 0 2010 2011 2012 2013 2014

  • Page 41
    ...000 5,000 Sales by Geographic Area (Billions of yen) 4,000 4,000 3,000 3,000 2,000 1,000 0 2010 2011 2012 2013 2014 Office Business Unit Imaging System Business Unit Industry and Others Business Unit Eliminations 2,000 Japan Americas Europe Asia and Oceania 2010 2011 2012 2013 2014 1,000...

  • Page 42
    ... Notes to Consolidated Financial Statements. Canon's sales by segment are summarized as follows: SALES BY SEGMENT Millions of yen 2014 change 2013 change 2012 Office Imaging System Industry and Others Eliminations Total Within the Office Business Unit, office MFDs sales increased steadily from...

  • Page 43
    ...used in investing activities increased by ¥19,086 million to ¥269,298 million in fiscal 2014. This reflects the acquisition of Milestone Systems, to enhance Canon's network camera business, and several other companies. Purchases of fixed assets were focused on items relevant to new products. Canon...

  • Page 44
    ... its revised inventory management policy. Increase in Property, Plant and Equipment (Billions of yen) 300 3.0 2.5 Working Capital Ratio Return on Canon Inc. Stockholders' Equity (%) 12 9 200 2.0 1.5 100 1.0 3 0.5 0 2010 2011 2012 2013 2014 0 2010 2011 2012 2013 2014 0 2010 2011 2012 2013 2014 6

  • Page 45
    ...on management's business plans regarding the levels and timing of purchases of fixed assets and investments. The working capital ratio (ratio of current assets to current liabilities) for 2014 was 2.60 compared to 2.69 for 2013 and to 2.47 for 2012. Return on assets (net income attributable to Canon...

  • Page 46
    ...foreign defined benefit pension plans. Canon's management believes that current financial resources, cash generated from operations and Canon's potential capacity for additional debt and/or equity financing will be sufficient to fund current and future capital requirements. RESEARCH AND DEVELOPMENT...

  • Page 47
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 45 Canon's consolidated R&D expenses were ¥308,979 million in 2014, ¥306,324 million in 2013 and ¥296,464 million in 2012. The ratios of R&D expenses to the consolidated total net sales for 2014, 2013 and 2012 ...

  • Page 48
    ... Businesses Through the Introduction of Innovative Products and Services For MFDs and other office products, in addition to improving hardware performance, efforts will be made to build a framework that will enable the Company to service as a one-stop shop that provides a broad range of high-quality...

  • Page 49
    ...steadily cultivate new businesses mainly targeting the B2B field, such as Super Machine Vision, a system capable of high-accuracy three-dimensional recognition of objects for potential use in production sites, and 4K reference displays. • Strengthening Global Marketing Capabilities Through Unified...

  • Page 50
    ... TEN-YEAR FINANCIAL SUMMARY Millions of yen (except per share amounts) 2014 2013 2012 2011 Net sales: Domestic Overseas Total Percentage of previous year Net income attributable to Canon Inc. Percentage of sales Advertising Research and development expenses Depreciation of property, plant and...

  • Page 51
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 49 Thousands of U.S. dollars (except per share amounts) 2010 2009 2008 2007 2006 2005 2014 ¥ 695,749 3,011,152 3,706,901 115.5% 246,603 6.7% 94,794 315,817 232,327 158,976 ¥ 4,131 2,645,782 3,983,820 ¥ ...

  • Page 52
    ...(loss) (Note 14) Treasury stock, at cost; 241,931,637 shares in 2014 and 196,764,060 shares in 2013 Total Canon Inc. stockholders' equity Noncontrolling interests Total equity Total liabilities and equity See accompanying Notes to Consolidated Financial Statements. 2014 2013 ¥ 844,580 71,863 625...

  • Page 53
    ... STATEMENTS OF INCOME Canon Inc. and Subsidiaries Years ended December 31, 2014, 2013 and 2012 51 Millions of yen 2014 2013 2012 Net sales Cost of sales (Notes 5, 8, 11 and 18) Gross profit Operating expenses (Notes 1, 5, 8, 11, 15 and 18): Selling, general and administrative expenses Research...

  • Page 54
    ... 31, 2014, 2013 and 2012 Millions of yen Additional paid-in capital Accumulated other comprehensive income (loss) Total Canon Inc. stockholders' equity Common stock Legal reserve Retained earnings Treasury stock Noncontrolling interests Total equity Balance at December 31, 2011 Equity...

  • Page 55
    ...from sale of fixed assets (Note 5) Purchases of available-for-sale securities Proceeds from sale and maturity of available-for-sale securities (Increase) decrease in time deposits, net Acquisitions of subsidiaries, net of cash acquired (Note 7) Purchases of other investments Other, net Net cash used...

  • Page 56
    ... manufacturing equipment, die bonders, micromotors, network cameras, handy terminals and document scanners. Canon's consolidated net sales for the years ended December 31, 2014, 2013 and 2012 were distributed as follows: the Office Business Unit 55.8%, 53.6% and 50.5%, the Imaging System Business...

  • Page 57
    ... companies and nonmarketable equity securities. Canon reports investments with maturities of less than one year as short-term investments. Canon classifies investments in debt and marketable equity securities as available-for-sale or held-to-maturity securities. Canon does not hold any trading...

  • Page 58
    ... to the customer or services have been rendered, the sales price is fixed or determinable, and collectibility is probable. Revenue from sales of office products, such as office MFDs and laser printers, and imaging system products, such as digital cameras and inkjet printers, is recognized upon...

  • Page 59
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 57 of the contract and recognized as services are provided. For all other arrangements with multiple elements, Canon allocates revenue to each element based on its relative selling price if such element meets the ...

  • Page 60
    ... or changes in circumstances that might have had significant adverse effects on the fair value of those investments. Investments in affiliated companies accounted for by the equity method amounted to ¥20,863 million and ¥18,937 million at December 31, 2014 and 2013, respectively. Canon's share of...

  • Page 61
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 59 3. TRADE RECEIVABLES Trade receivables are summarized as follows: December 31 Millions of yen 2014 2013 Notes Accounts Less allowance for doubtful receivables ¥ 18,476 619,321 637,797 (12,122) ¥ 625,675 ¥...

  • Page 62
    ... terms ranging from 1 year to 6 years. The components of the finance receivables, which are included in prepaid expenses and other current assets, and other assets in the accompanying consolidated balance sheets, are as follows: December 31 Millions of yen 2014 2013 Total minimum lease payments...

  • Page 63
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 61 7. ACQUISITIONS During the year ended December 31, 2014, Canon acquired several companies for a total cash consideration of ¥70,671 million, of which ¥30,696 million, ¥8,789 million, and ¥4,633 million was ...

  • Page 64
    62 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The changes in the carrying amount of goodwill by segment for the years ended December 31, 2014 and 2013 were as follows: Years ended December 31 Millions of yen Imaging System Industry and Others Office Total 2014: Balance at beginning of year ...

  • Page 65
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 63 10. TRADE PAYABLES Trade payables are summarized as follows: December 31 Millions of yen 2014 2013 Notes Accounts ¥ 14,112 296,102 ¥ 310,214 ¥ 8,005 299,152 ¥ 307,157 11. EMPLOYEE RETIREMENT AND ...

  • Page 66
    ... TO CONSOLIDATED FINANCIAL STATEMENTS Amounts recognized in the consolidated balance sheets at December 31, 2014 and 2013 are as follows: December 31 Japanese plans Millions of yen Foreign plans Millions of yen 2014 2013 2014 2013 Other assets Accrued expenses Accrued pension and severance...

  • Page 67
    ... service credit Actuarial loss ¥ (12,591) 11,031 ¥ (55) 1,993 Assumptions Weighted-average assumptions used to determine benefit obligations are as follows: December 31 Japanese plans Foreign plans 2014 2013 2014 2013 Discount rate Assumed rate of increase in future compensation levels...

  • Page 68
    ... TO CONSOLIDATED FINANCIAL STATEMENTS Weighted-average assumptions used to determine net periodic benefit cost are as follows: Years ended December 31 Japanese plans Foreign plans 2014 2013 2012 2014 2013 2012 Discount rate Assumed rate of increase in future compensation levels Expected long...

  • Page 69
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 67 The three levels of input used to measure fair value are more fully described in Note 20. The fair values of Canon's pension plan assets at December 31, 2014 and 2013, by asset category, are as follows: December ...

  • Page 70
    ... December 31, 2014 and 2013, respectively. Amounts of actual returns on, and purchases and sales of, these assets during the years ended December 31, 2014 and 2013 were not significant. Contributions Canon expects to contribute ¥14,674 million to its Japanese defined benefit pension plans and ¥11...

  • Page 71
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 69 Years ended December 31 Japanese Millions of yen Foreign Total 2013: Income before income taxes Income taxes: Current Deferred ¥251,351 ¥ 75,134 4,005 ¥ 79,139 ¥257,640 ¥ 73,573 13,900 ¥ 87,473 ¥ 96,...

  • Page 72
    ... liabilities at December 31, 2014 and 2013 are presented below: December 31 Millions of yen 2014 2013 Deferred tax assets: Inventories Accrued business tax Accrued pension and severance cost Research and development-costs capitalized for tax purposes Property, plant and equipment Accrued expenses...

  • Page 73
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 71 A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Years ended December 31 Millions of yen 2014 2013 2012 Balance at beginning of year Additions for tax positions ...

  • Page 74
    ... CONSOLIDATED FINANCIAL STATEMENTS Changes in accumulated other comprehensive income (loss) for the years ended December 31, 2014 and 2013 are as follows: Foreign currency translation adjustments Unrealized gains and losses on securities Gains and losses on derivative instruments Pension liability...

  • Page 75
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE...change during the year Pension liability adjustments: Amount arising during the year Reclassification adjustments for gains and losses realized in net income Net change during the year Other comprehensive income (loss) 2013...

  • Page 76
    ...2011 was ¥772. On May 1, 2010, based on the approval of the stockholders, the Company granted stock options to its directors, executive officers and certain employees to acquire 890,000 shares of common stock. These option awards vest after two years of continued service beginning on the grant date...

  • Page 77
    ... a number of major financial institutions. of U.S. dollars and euros into Japanese yen. These contracts are primarily used to hedge the foreign currency exposure of forecasted intercompany sales and intercompany trade receivables that are denominated in foreign currencies. In accordance with Canon...

  • Page 78
    ... of foreign exchange contracts at December 31, 2014 and 2013 are set forth below: December 31 Millions of yen 2014 2013 To sell foreign currencies To buy foreign currencies ¥ 358,862 21,365 ¥374,699 44,726 Fair value of derivative instruments in the consolidated balance sheets The following...

  • Page 79
    ... December 31, 2014, 2013 and 2012, respectively. Future minimum lease payments required under noncancelable operating leases that have initial or remaining lease terms in excess of one year at December 31, 2014 are as follows: Year ending December 31: Millions of yen 2015 2016 2017 2018 2019...

  • Page 80
    ...which it generally guarantees the performance of products delivered and services rendered for a certain period or term. Changes in accrued product warranty costs for the years ended December 31, 2014 and 2013 are summarized as follows: Years ended December 31 Millions of yen 2014 2013 Balance at...

  • Page 81
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 79 The following methods and assumptions are used to estimate the fair value in the above table. Long-term debt Canon's long-term debt instruments are classified as Level 2 instruments and valued based on the ...

  • Page 82
    .... Level 3 investments are mainly comprised of corporate bonds, which are valued based on cost approach, using unobservable inputs as the market for the assets was not active at the measurement date. Derivative financial instruments are comprised of foreign exchange contracts. Level 2 derivatives...

  • Page 83
    ...: Office Business Unit: Office multifunction devices (MFDs) / Laser multifunction printers (MFPs) / Laser printers / Digital production printing systems / High speed continuous feed printers / Wideformat printers / Document solutions Imaging System Business Unit: Interchangeable lens digital cameras...

  • Page 84
    ... In 2013, based on the realignment of Canon's internal reporting structure, certain financial assets were transferred from Corporate to the Office Business Unit. Accordingly, corresponding amounts of total assets as of December 31, 2012 were reclassified. Information about product sales to external...

  • Page 85
    STRATEGY BUSINESS SEGMENT CORPORATE STRUCTURE FINANCIAL SECTION CORPORATE DATA 83 Net sales are attributed to areas based on the location where the product is shipped to the customers. Other than in Japan and the United States, Canon does not conduct business in any individual country in which...

  • Page 86
    ... adjustments and other Balance at end of period 2014: Allowance for doubtful receivables Trade receivables Finance receivables 2013: Allowance for doubtful receivables Trade receivables Finance receivables 2012: Allowance for doubtful receivables Trade receivables Finance receivables ¥ 11,563...

  • Page 87
    ... management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company's assets that could have a material effect on the financial statements. Because of its inherent limitations, internal...

  • Page 88
    ... statements taken as a whole, presents fairly in all material respects the information set forth therein. We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), Canon Inc. and subsidiaries' internal control over financial reporting...

  • Page 89
    ... management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the company's assets that could have a material effect on the financial statements. Because of its inherent limitations, internal...

  • Page 90
    ... AND REGISTRAR'S OFFICE STOCKHOLDER INFORMATION Canon Inc. 30-2, Shimomaruko 3-chome, Ohta-ku, Tokyo 146-8501, Japan Stock Exchange Listings: Tokyo, Nagoya, Fukuoka, Sapporo and New York stock exchanges American Depositary Receipts are traded on the New York Stock Exchange (CAJ). Manager of the...

  • Page 91
    ...Ltd. Canon Opto (Malaysia) Sdn. Bhd. Canon Prachinburi (Thailand) Ltd. Canon Business Machines (Philippines), Inc. Marketing & Other Canon Marketing Japan Inc. Canon System and Support Inc. Canon Software Inc. Canon IT Solutions Inc. Canon U.S.A., Inc. Canon Canada Inc. Canon Solutions America, Inc...

  • Page 92
    CANON INC. 30-2, Shimomaruko 3-chome, Ohta-ku, Tokyo 146-8501, Japan ©Canon Inc. 2015 PUB.BEP024-01 0415