TWIC "This Week in Canon"

Canon’s factory direct branch in San Francisco, formerly a dealer named NewCal, will now be the official office equipment provider for San Francisco Giants baseball team.

Canon announced it received two “Pick of the Year” awards from Buyers Laboratory Inc. for the following products:
- imagePROGRAF iPF755 wide format color inkjet printer
- imageRUNNER 5050N digital b/w MFP
- color imageCLASS MF8450C
- imageFORMULA ScanFront 220eP

Canon convinced U.S. Senator, Check Schumer, to help lobby State of New York government to financially assist Canon build its proposed new north American headquarters:
- The huge new building is planned to be built on the former Tilles Pumpkin Farm in Melville
- Current building is in Lake Success
- “I believe that there is no recovery act candidate more deserving that this one” said Senator Schumer.
- Canon is pushing for the State of New York to reallocate transportation stimulus money it received from the federal government to upgrade and widen Route 110 service roads,
which lead to the property.
- Expected cost to taxpayers is $6 million

Canon reported its last quarter’s financials:
- Net profits down 86% from 107.8 billion yen to 15.6 billion yen ($164 million)
- Will cut 220 billion yen in costs, an increase of 28% of original target
- Predicts at end of fiscal, its profit will be down 62%
- Assumes that dollar/yen exchange of only 95 yen to the dollar
- Stated that the rise in the value of the yen versus the U.S. dollar has cost the
company 151 billion in revenue
- Expects it sales of laser engines to Hewlett Packard (all HP LaserJet products are
actually relabeled Canon’s) will fall 45%
- Copier supply revenue fell nearly 30%
- Total revenue down 28%
- plans on opening up 1,000 factory direct branches in China within 2 years

Canon announced new optional software that can be embedded in MEAP equipped Canon laser MFPs. The new software; “Security & Cost Control Pack”, provides an affordable secure job tracking and cost recovery solution.

-=Good Selling=-