March 07, 2008 Corporate strategy conference

Canon also seeks to undertake M&A.

Last year, in order to accelerate the development and production of OLED panels, we added TOKKI Corporation to the Canon Group. And recently, with the aim of ensuring a stable supply of advanced, small to medium-sized liquid crystal panels, as well as participating in the collaborative development of OLED panels, Canon made the decision to invest in Hitachi Displays. During the first half of 2007 Canon added ARGO21 Corporation to the Canon Group to strengthen our Solutions Business. Canon used approximately 450 billion yen in cash to repurchase its own shares, which it now holds as treasury stock. This as well as cash can be effectively utilize at any time to capitalize on significant M&A opportunities.