Word: canonic
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Dates: during 1960-1969
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Last January, Bell & Howell, at its own request, became Canon's Canadian and U.S. distributor. In the decade that it took to complete this change of heart, Canon has become one of the world's top camera manufacturers in both quantity and quality. Its sales totaled $19.8 million last year. This year the company expects a 36% gain in sales to $27 million. Half its production will be exported to 90 countries. Wall Streeters might well envy its growth: a $1 investment in Canon in 1949 is now worth...
...Boost from the Troops. Slight, scholarly Takeshi Mitarai, 61, thinks Japan might have overcome its reputation for shoddy manufacturing long before it did. "The capability was always there in Japan," he says. "But it was channeled into things like Zero fighters and dreadnoughts." Canon got started in 1933 when Mitarai, then a practicing M.D., enlisted some technician friends to develop better optical equipment for hospitals. While they were about it, they turned out Japan's first 35-mm. camera, a near copy of the German Leica. Recalls Mitarai: "My associates had a really difficult time producing this prototype without...
Biggest Seller. Unlike Canon, some Japanese were still turning out the cheap and shoddy. Aware that his own export market could be ruined by poor Japanese cameras, Mitarai pressed for industry controls. In 1954, largely at his persuasion, the government organized the Japanese Camera Industry Association, which closely scrutinizes output, tries to keep poor models off the world market...
Mitarai is capable of odd business gestures. Last year, after dominating Japan's high-priced camera market (85% of sales), Canon moved into the medium-priced field with the sleek 35-mm. Canonet (U.S. retail price: $112). So good was the Canonet that competitors petitioned the Japanese government to bar it from the market on the ground that it would drive them out of business. The government refused, but Mitarai generously volunteered to hold up the introduction of the Canonet for five months until other firms could improve their own models. Even so, the Canonet has become Japan...
...growth delights Mitarai, of course. But most memorable to him, since the old Japanese reputation still rankled, is the occasion two years ago when he took the Canonet, along with a 2000-mm. television zoom lens, a 50-mm. lens four times faster than the human eye, and other Canon products to the Cologne Photokina Exhibit. It was a tough audience of German cameramakers to play to. Crows Mitarai: "We demonstrated, and the Europeans admitted, that Japanese products were no longer mere improved copies. They were based on original techniques...