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Canon announces restructuring plans for 2004

Posted: 30 Dec 2003 ?? ?Print Version ?Bookmark and Share

Keywords:canon? canon precision? micromotors? ultrasonic motors? hirosaki seiki?

Canon Inc. has revealed its restructuring plans for three domestic Canon Group companies that will take effect on January 1, 2004.

As part of the project, Canon Precision Inc., a wholly owned subsidiary of Canon that develops dc micromotors and ultrasonic motors, will merge with motor maker Hirosaki Seiki Inc., a wholly owned subsidiary of Canon Precision Inc. Canon Precision, the surviving company, will absorb Hirosaki Seiki. Following the merger, the company will be named Canon Precision Inc. and operations will be transferred to Hirosaki City, Aomori.

In addition, Canon N.T.C. Inc., a wholly owned subsidiary of Canon, will spin off its environmental business operations into a newly established company. Following the separation, Canon N.T.C. will focus its energies on its semiconductor equipment-related business and will receive a new company name.

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