Canon to take control of Finetech
According to the Financial Times, Canon Inc. is to take full control of Canon Finetech through a Y24 billion ($269 million) share swap, as the trend of Japanese groups buying out minority shareholders in listed subsidiaries gathers pace. The report said Japanese companies such as Canon say they want full control of their subsidiaries in order to improve management efficiency. FT added Canon said it was buying out the minority in Canon Finetech in order to “accelerate its management speed”. Canon Finetech supplies technologies to the wider Canon group, including paper handling devices and chemicals for the drums of copiers, and also makes wide-format printers.
