by
Thomas Dworetzky, Contributing Reporter | April 18, 2017
Canon has forecast full-year operating profit to rise 11.4 percent, helped by Toshiba Medical's earnings. That's the first rise in the last three years, according to a report in The Star Online.
The acquisition of Toshiba Medical Systems is part of Phase V of Canon's Excellent Global Corporation Plan, a five-year initiative launched in 2016.
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“Canon aims to embrace the challenge of new growth through a grand strategic transformation,” it said in a statement in February concerning its Toshiba acquisition. One of the most important parts of its strategy, it stressed, was “to cultivate its health care business.”
The worldwide market for health care equipment is big and growing, according to Mizuho Bank. It is estimated to hit about $460 billion in 2021, which is a 40 percent climb from the 2015 figure.
It will be 2018 before Toshiba Medical Systems
can change its name to Canon Medical Systems – thanks to delays caused by China.
“We don’t know whether China intentionally delayed the process, but it took Beijing too much time screening the plan, unlike Korea and other countries,” Charles Ju, president of Toshiba Medical Systems Korea, said at a news conference in Seoul in early April.
He noted that due to the delay “Canon could take over the equities of Toshiba Medical Systems’ shares only after Dec. 19, 2016.”
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