March 07, 2008 Corporate strategy conference

According to research performed by Mizuho Trust & Banking Co., Ltd., Canon's stock price appreciation, including dividends, as an indicator of total returns, nearly quintupled during the 18 year period from the end of 1989 to the end of 2007, and Canon was ranked 8th among approximately 1,100 companies listed on the first section of the Tokyo Stock Exchange. We feel this shows that Canon has been able to provide a high level of performance for its long-term investors.

Furthermore, Canon is engaged in the acquisition of its own stock as part of a flexible capital strategy (and as another means of supplementing dividends through shareholder returns), which includes increased capital efficiency and future share exchanges, to be implemented as conditions demand.