Key Developments: Canon Inc (7751.T)
25 Jul 2014
Latest Key Developments (Source: Significant Developments)
Tijd reported that the Belgian Competition Council referred CANON INC's acquisition of I.R.I.S. Group SA to European Commission. According to the Competition Council, the merger of two companies will lead to concentration and will negatively affect the competition on Belgian market. Further details were not disclosed. Full Article
Japan Fund And Firms Including Canon Inc. Aim To Acquire Renesas Electronics Corp For $2.6 Billion-Reuters
Reuters reported that a Japan government fund is expected to partner with about 10 companies in hopes of buying Renesas Electronics Corp in a 200 billion yen ($2.55 billion) deal, the Nikkei business daily said. The taxpayer-funded Innovation Network Corp plans to invest 150 billion yen to acquire two-thirds of Renesas' shares on a voting rights basis, the Japanese newspaper said on Saturday. A consortium of Japanese companies including Canon Inc., Denso Corporation, Honda Motor Co., Ltd., Nikon Corporation, Nissan Motor Co., Ltd., Panasonic Corporation, Toyota Motor Corp and Yaskawa Electric Corporation, are also expected to invest a total of nearly 50 billion yen, the Nikkei said. German industrial group Robert Bosch GmbH is also considering an investment in the chipmaker, the Nikkei added. Full Article
Reuters reported that CANON INC announced that its European division will acquire shares of Image Recognition Integrated Systems Group SA, at the price of EUR 44.50 per share, or approximately EUR 70 million in total. CANON aims to increase its stake in Image Recognition Integrated Systems Group to 90% plus one share after the transaction, from a 17% stake. Full Article
TOKYO - Japan's Canon Inc said second-quarter operating profit jumped 12 percent to its highest for any quarter in nearly three years, as strong earnings in overseas office equipment offset continuing weakness in its camera business.