TOKYO, January 30, 2003-Canon Inc. announced on October 29, 2002, plans to spin-off its Fukushima Plant into a wholly owned subsidiary. Following consideration of the separation method and post-separation structure, Canon Inc.'s Board of Directors today adopted a resolution to separate the Fukushima facility into a newly established subsidiary, Fukushima Canon Inc., and transfer such business to the new company, effective April 1, 2003, in accordance with the Commercial Code that provides for corporate separation.