Canon Planning to Manufacture Digital Cameras in Brazil
From Canon, Inc.:
Canon to manufacture digital cameras in Brazil through establishment of Canon Indústria de Manaus
TOKYO, June 11, 2012—Canon Inc. today announced plans to launch digital camera production in Brazil through the establishment of Canon Indústria de Manaus Ltda., located in the state of Amazonas.
Recently, the digital camera market has displayed steady growth, led by emerging countries. Brazil, in particular, has a large market with demand expected to increase, which has created a pressing need for a strategic product supply.
In response to these circumstances, Canon has newly established Canon Indústria de Manaus Ltda. in Amazonas state, Brazil.
Overview of New Company
1. Name: Canon Indústria de Manaus Ltda.
2. Location: Manaus, Amazonas, Brazil
3. Representative: Masanobu Hishinuma (President)
4. Business activities: Manufacture of digital cameras
5. No. of employees: Approx. 60 (tentative, as of the end of 2013)
6. Capital: 210 million yen (calculated at an exchange rate of BRL 1= JPY 39.5)
7. Equity structure: Canon Inc.: 99.99% / President Hishinuma: 0.01%
8. Establishment: May 2012
9. Total floor area: Approx. 1,800 sq. meters
10. Total investment: Approx. 110 million yen
11. Start of operations: July 2013 (tentative) Note: Canon also operates a business machine and digital camera marketing company in Brazil, Canon do Brasil Indústria e Comércio Ltda., which was established in November 1974.