One of the most high-profile cautionary tales in business is that of a certain camera company that invented the digital camera and then shelved it, for fear its innovation could cost it dear, it later filed for bankruptcy in 2012.
Fast forward a decade and with smartphones now dominating the world, each new model boasting a slightly better camera, you could perhaps forgive another company famed for its high-quality cameras for perhaps feeling the heat.
But not so, in fact, the global rise of young photographers, influencers and YouTubers, is even fueling growth, so says President and CEO of Canon Europe Middle East and Africa (EMEA), Yuichi Ishizuka, with the company overturning 2020 figures in 2021 to beat back the pandemic and better 2019’s financial results.
And the innovation in imaging is just getting started, says the senior executive, whose love of imaging started back when he was a child helping at his parents’ photography shop, decades ago.
“People say that smartphones are killing cameras, which is partly true and partly not true. In older days only cameras captured moments in time that’s why people bought them. Our mindset was on ratio, how many cameras were in the house, and only one expensive one, which kids could not touch. But now the kids have smartphones, they take videos and pictures every day.
“So smartphones can be seen as the enemy of cameras, but they can be a foundation for the imaging industry. For these young people who are using smartphones, if even 10 percent want to capture better images, want to lean into better creativity, then that’s an opportunity. Multifunctional devices, smartphones have limitations, we are about being better.
“Once you’ve learned the fun of creativity you’re going to want to get a better product, it is coming. It’s not only for still photography, it is for video, movies and YouTubers. Also with digitalisation, we have online uses for meetings, you can use the camera on the computer and even if the quality is not good, using a camera makes an amazing difference.
“It is a very important issue, interactive visual communication, yes there will be limitations but we can reduce the gaps in those images. Now the demand has got bigger and bigger.”
Canon’s presence in the region
Ishizuka was speaking to Arabian Business on a visit to the region, especially with Canon acting as the sole imaging and printing partner for Expo 2020. He says, just as Dubai is living in exciting times, so is the imaging industry.
“We are just beginning on the changing times, look at movies 30 years ago compared today, look to the next 30 years. Digitalisation is bringing so many changes. If you think about how we transmit those images too, that is a big area. We have 5G and even 6G coming soon, but many areas still need to improve. The innovation has just started, if you think of high density, high images and the speed they can be sent, that is another area where there is potential.”
“If we look at the infrastructure here in the UAE we can see there are more and more fibre lines, and this is important to the building of the country, the business landscape, the new factories. This technology is evolving so fast that you need to keep investing into innovation, continuously, and we are very proud that we do that.”
Confidence is essential
The president is upbeat about the prospects ahead in the region, particularly as it looks ahead having weathered the pandemic.
“During the pandemic, many people worried about many issues, so it was important to let our people, our family, know they can have confidence in the company. As long as you ensure that for the time that the company has that financial condition, ok not easy, but ok, then don’t worry about it. That is the first thing management can give to our employees, tell them ‘we’re going through a tough time but we can do this’.
“That is my role and responsibility as a leader, I don’t have a crystal ball on where we were going, but that’s the confidence I can give to the team. And I will appreciate forever the way that everyone carried on with their business, so that when we look at the number, the revenue from the last two years, it is a considerable achievement.
“So 2021, that was a tough year, especially coming after 2020 in which everyone suffered. I have never experienced such a time in which we had separate issues happening at the same time. But, after all is said, after crisis comes opportunity. We knew that we couldn’t be perfect, but we could do our best, and that is what we did. As a result, our number is better than 2019’s.”
The Kyosei philosophy
One of the qualities which helped the imaging major weather the pandemic, believes Ishizuka, is Canon’s global philosophy of Kyosei – a Japanese philosophy meaning “Living and working together for the common good”.
“Kyosei is our company philosophy started over 70 years ago. I had to ask about this at my interview because I’d never heard of it. But, it is basically how every activity we do for the company has to give us purpose. Making money is important yes, but what is the ‘why’ of the company?’
“We want to be part of the solution, that’s the idea of being together in the common good. So if we are able to be a healthy, sustainable company, then we can continue to contribute to the wider societies we are part of.
“Yes our headquarters are in Japan but we do business globally. Take me for example, out of 41 years some 37 of them I have been out of Japan, some 33 years in the USA. When I was first dispatched [a long time ago], the president of Canon USA told me I had to localise, I had to understand not just the language, but the culture because that is the only way to work as a team.
“If you look at the UAE pavilion they are talking about what they have done in the past 30 years, now the UAE and Dubai have huge plans for the next 30 years, they want to become Tokyo, they want to do Hong Kong, and they want to attract companies who want to be part of that regional change. You also have Saudi Arabia which is a big story of change too, so how do you become part of that changing future?
“I think that is where Kyosei comes in again, how can we continue to support that change, by working to support society. That is our job, but that is also our company spirit.”
The Expo effect
For Ishizuka, the Dubai visit evokes memories of that childhood in which the love of imagery was born, especially with his visit to Expo 2020.
“Expo 2020 is very impressive. Very impressive. For me, it has been great because 50 years ago they had Expo in Osaka and I remember going. I remember at the time Japan’s gates had just opened with the 1964 Tokyo Olympics and that was the start of high growth in Asia.
“With this Expo 2020 I could see the same spirit and the opportunity to work with, and develop with the country because Dubai is a hub not only for the Middle East but for Africa too, so our regional headquarters are here.
“It is most impressive in two senses. Firstly, the number of children and students who are interested in science, is one of the key human resources to grow in countries, and Dubai gives many opportunities for Expo to be a study point.
Secondly, it is just about happy faces, not just tourists, but our customers, photographers, our business partners, all who are working with Expo 2020 have happy faces.”
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