Océ Japan to become wholly owned subsidiary of Canon Marketing Japan
Canon and Océ are combining their printing operations in Japan. The move follows the completion on 9 March 2010 of the public offer by Canon for Océ outstanding common shares, which was launched with the aim of creating the overall number one presence in the printing industry.
To facilitate the combination in Japan, Canon Marketing Japan Inc., a company in which Canon Inc. holds the majority of the voting rights, and Océ N.V. have reached an agreement by which Océ N.V. will sell 100% of the share capital in Océ-Japan Corporation to Canon Marketing Japan Inc. Océ-Japan Corporation accounts for less than 1% of overall Océ revenues. The transaction price amounts to Yen 1,100 million (approximately EUR 9.6 million).
By combining their Japanese businesses, Canon and Océ believe they will be better placed to generate sales, particularly in the wide-format and production printing segments. The combined sales organisations will make both companies' products and services available to a broader customer base, serving to reinforce the Canon-Océ market position in Japan.