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TECH SPACE
Canon to spend $12bn on acquisitions by 2015

by Staff Writers
Tokyo (AFP) Jan 11, 2011
Canon plans to spend up to one trillion yen ($12 billion) by 2015 on mergers and acquisitions to expand in the areas of medical equipment and robotics, according to an interview published Tuesday.

Chairman Fujio Mitarai told Kyodo News that the technology firm wanted to expand to achieve higher sales and profits, the news agency said.

Canon will also set up new research and development centres in the United States and Europe for its medical and printing operations, Mitarai said.

"We'd like to actively proceed with mergers and acquisitions," Mitarai said, adding that the company had already started selecting companies for possible mergers, according to Kyodo.

The company was interested in medical equipment and gene engineering businesses as well as industrial and nursing-care robots, Mitarai said.

By acquiring the new businesses, the company aims to chalk up group sales of over five trillion yen and a net profit of 500 billion yen in 2015, Mitarai said.

Canon now expects sales of 3.7 trillion yen and a net profit of 245 billion yen for the year to December 2010.



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Director shoots first major movie solely with iPhone
Seoul (AFP) Jan 11, 2011
A movie claimed to be the first ever cinema-standard film to be shot solely on the iPhone has been premiered by celebrated South Korean director Park Chan-Wook. "Night Fishing" is said to have the same picture resolution as conventional movies but took just 80 people, 150 million won ($133,000) and 10 days to create. Park Chan-Wook said he at first approached the project, a 30-minute fil ... read more







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