The office equipment manufacturer is taking over Japanese company Igari Mold

The office equipment manufacturer is taking over Japanese company Igari Mold

Office equipment manufacturer Canon is to acquire Japanese mouldmaker Igari Mold. The takeover will be achieved by way of a share exchange, which should be completed by mid-March of this year. The share-swap ratio is yet to be determined.

Canon believes that in-house mould production will help it to launch better products more quickly. Around 7% of Igari’s Y2.3bn (E17m) annual sales come from Canon. Igari was founded in 1972 and specialises in precision moulds for computer, camera and photocopier components. Canon recently stated that it was on course for a record year of results.