2010-06-28 09:59

Canon president Hideki Ozawa focuses on hitting China sales of $10 billion ahead of 2017 target

BEIJING - Hideki Ozawa is not the traditional Japanese businessman often regarded as aloof, shy and reticent in front of the public. Rather, the 60-year-old executive is a charismatic entrepreneur who enjoys playing acoustic guitar at most of the company's annual dinners.

During his 37 years working for Canon Inc, the world's biggest digital camera maker, Ozawa spend 33 of them working in countries outside his homeland, turning him into one of the most "westernized" executives in the prestigious Japanese firm.

Two elderly customers examine a premium single lens re?ex Canon camera at a store in Beijing. Canon said it planned to increase its revenue from Asian countries, including Japan and China, to more than half its global income in the near future, from 41 percent last year. [XU ZHUOHENG / CHINA FOTO PRESS ]

That style, however, did not prevent Ozawa from playing a vital role in the recovery of Canon, which suffered severely from the global financial crisis.

As the president of Canon's business in China, Ozawa's mission is to turn China into Canon's next revenue generator at a time when demand from Japan, the United States and Europe has been sluggish because of the economic slowdown.

Canon said it planned to increase to more than 50 percent its revenue from Asian countries, including Japan and China, in the near future, from 41 percent last year.

"The economic engine has transferred from the United States and Europe to China," said Ozawa.

He said the firm hoped China alone would contribute 10 percent to Canon group sales over the next two years and aimed for top-line growth of 30 percent each year in the near term.

Canon is the world's biggest maker of digital cameras and also one of the largest manufacturers of printers. That two-product line contributed about 40 and 50 percent of its total revenue last year, according to the company.

Over the past few years, the company has recorded about 30 percent growth in China, making the country Canon's third largest market after the United States and Japan.

However, Canon's presence in China is heavily skewed towards digital cameras, which Ozawa said has largely limited future growth for the company among the world's biggest population.

Ozawa said the company planned to actively promote all of the company's portfolios, from office products to medical equipment, in the country. That is expected to boost sales revenue of Canon China from 11 billion yuan last year to $10 billion by 2017, Canon said.