Canon Inc. views it as difficult to invest in Toshiba Corp.'s flash memory business because the company already has a number of investment projects going on and sees little time left to assess its property, Canon Chief Financial Officer Toshizo Tanaka said Tuesday.
Speaking at a news conference to report Canon's 2016 earnings results, Tanaka said the company is making a "major strategic transition" to shift its axis for growth from conventional mainstay businesses such as digital cameras and copiers to new businesses, including medical equipment.
"To that end, we have a range of investments coming up. Considering the situation, it would be very difficult to invest in Toshiba's semiconductor operation," Tanaka said, adding this is "our outlook at this moment."