[Press Release August 11, 2011]
Canon Inc. (NYSE: CAJ), a giant in the camera industry, has opted to buy back up to 15 million of its own shares. This is equivalent to 1.2% of outstanding shares. Canon’s headquarters are located in Ōta, Tokyo, Japan.
Reason for acquisition of own shares: From Canon’s corporate webpage
The Company decided to acquire its own shares with the aim of improving capital efficiency and ensuring a flexible capital strategy that provides for such future transactions as share exchanges.
Canon
The total cost of acquisition is up to 50 billion yen, with a total cost of up to 50 billion yen. The period of aquisition is from August 12, 2011 to September 16, 2011. The number of outstanding shares will be 1,215,566,771.
Canon U.S.A., Inc., is a leading provider of consumer, business-to-business, and industrial digital imaging solutions. Its parent company, Canon Inc. (NYSE:CAJ), a top patent holder of technology, ranked fourth overall in the U.S. in 2010, with global revenues of more than US $45 billion and is listed as number five in the computer industry on Fortune Magazine’s World’s Most Admired Companies 2011 list. Canon U.S.A.
