TOKYO, January 29, 2004 — Canon Inc. ("Canon") announced that, following a decision reached today by its Board of Directors, the company will change the number of shares that constitute one unit.

Until now, Canon opted not to reduce the unit of investment, as the company's stock enjoyed adequate levels of liquidity. Owing to an increase in the total investment amount required to realize one trading unit, however, the proportion of ownership by individual investors in recent years has decreased.

As such, the company has decided to change the number of shares that constitute one unit. By reducing the minimum investment amount, Canon hopes to offer a wider range of investors, including individuals, an opportunity to invest in the company. The company also views the measure as an important step to further broaden its base of investors who, as shareholders, provide support for Canon's management.

The number of shares constituting one unit will be reduced from 1,000 to 100.

Thursday, May 6, 2004

On May 6, 2004, the number of Canon shares constituting one trading unit will be reduced from 1,000 to 100 on the Tokyo Stock Exchange, Osaka Securities Exchange, Nagoya Stock Exchange, Fukuoka Stock Exchange and the Sapporo Stock Exchange.