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Canon to build $229 million R&D centre in Tokyo
TOKYO,Sept 13,Japanese camera and office equipment maker Canon Inc. said on Monday it would invest about $229 million to build a flagship research and development centre at its headquarters in Tokyo.
Canon, JApan's top maker of office machines and the world's second-best-selling digital camera brand, expects to complete construction of the 43,000 square metre building in March 2005 at a cost of around 25 billion yen ($228.6 million).
The facility will house about 1,200 researchers, who will conduct basic research on biotechnology and other future business areas, as well as developing technology and materials for use in the firm's core products such as copiers and cameras.
Canon's decision to build the centre on the grounds of its headquarters was partly driven by a desire to allow management to easily monitor technological developments.
A technological powerhouse that spends more than $2 billion annually on research and development, Canon ranked number two in U.S. patents received and raked in $200 million from patent royalties last year.
* Post was edited: 2004-09-14 10:25:00
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