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International Data Corporation Press Release 29/03/04

-CANON/ IDC places Canon in number one position for European digital camera market; International Data Corporation (IDC) in annual research places

M2 PRESSWIRE-29 March 2004-CANON: IDC places Canon in number one position for European digital camera market; International Data Corporation (IDC) in annual research places Canon at number 1 for sales in Europe`s fastest growing consumer technology market; Canon`s vision and strategy for 2004 aims to lead the growing multi-billion Euro market with strong sales, marketing and continued R&D (C)1994-2004 M2 COMMUNICATIONS LTD

LONDON - Figures released today by analyst firm IDC place Canon as the market leader of the Western European digital camera market, a position the company intends to maintain with a growth policy and multiple new product launches over the coming year.

IDC analysts found that among the 25 brands surveyed, Canon maintained its market leading position [1], with a 16.2% share of the entire digital camera market. IDC calculated that the company had combined sales in 2003 of more than 2.5 million units of digital SLR (D-SLR) and compact digital cameras.

Head of Canon Consumer Imaging Europe, Mogens Molgaard-Jensen, put the company` s success down to technological innovation: “Canon has always been a pioneer of new technologies in digital imaging and we have every intention of moving even faster in this important and competitive sector. Our commitment to continuing research and development and inspiring creativity in our customers will ensure our name remains synonymous with quality and excellence in imaging for many years to come.”

Canon is committed to R&D and in 2003 invested 8.1% of its global revenues in this area. To maintain its leadership position, the company is releasing on average one new consumer product every four days throughout this year.

400% growth in D-SLR market
According to leading consumer market research house, Gfk, the D-SLR market has shown remarkable growth in the last year, with total market sales volumes of digital SLR (D-SLR) cameras increasing by over 400%. This information is based on a Gfk report that compares growth trends for the period October to November 2003 with the same period in 2002 across 11 European countries. The growth is attributed in part to Canon`s release of its EOS 300D D-SLR; the first professionally specified D-SLR aimed at the consumer market, with a price tag below the euro1,000 mark.

A large and growing market
Canon’s success can be attributed in part to its strategy of taking technology developed for the professional photography market and filtering it down into consumer products. Canon’s pro-series cameras such as the EOS-1Ds and EOS-1D Mark II are now specified by most leading wire services such as Reuters, Getty Images and AP. By translating this success into the development of highly specified yet simple to use consumer digital cameras, Canon has both contributed to and profited from the trend toward digital cameras being adopted by the market as lifestyle accessories.

Worldwide trend
Canon`s leadership in the digital camera market is not contained to Europe.

Based on Gfk reports, the combined worldwide sales of the Canon PowerShot A70 made it the worldwide best selling camera in 2003, with the Canon Digital IXUS 400 running a close second.

Explosive Growth
Paul Withington, Senior Analyst, European Peripherals at IDC said: “Our preliminary figures show that once again the digital camera market in Western Europe has experienced explosive annual growth and almost doubled in the past 12 months, making it one of the hottest consumer markets of 2003. The leading companies in the market have strived to address the issue of ease of use in the point and shoot category and we have seen prices drop in the key 3 Megapixel segment which has made digital photography accessible to the majority of European consumers.”

About Canon Europe
Canon Europe is a subsidiary of Canon Inc. of Japan, a world-leading innovator and provider of imaging and information technology solutions for individuals and businesses.

The main business focus for Canon Europe is in two clearly defined markets: Business Solutions (developing IT products, solutions and services for the office and professional print environments) and Consumer Imaging (photo, video, Bubble Jet printers, scanners, fax machines and multifunction devices).

Canon Europealso provides Industrial Products including broadcast lenses, semiconductor and medical equipment.

Canon Europe employs in the region of 11,000 people across 19 countries.

Further information about Canon Europe is available at: http://www.canon-europe.com

[1] IDC Annual Digital Camera Vendor Shipments Survey of - 16 Western European countries. Paul Withington, Julio Vial, April 2004

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