Canon

An AP review of corporate SEC filings found dozens of companies that have done business in Iran in recent years or said their products or services may have made it there through other channels. Some are household names: PepsiCo, Tyson Foods, Canon, BP Amoco, Exxon Mobil, GE Healthcare, the Wells Fargo financial services company, Visa, MasterCard and the Cadbury Schweppes candy and beverage maker. (Associated Press, "From bull semen to bras, Iran still buys American," 7/09/08) (http://www.heraldextra.com/news/world/article_f87497ad-c431-5148-9fb4-f973359987bd.html)

As of August 27, 2019, Canon is listed on the Illinois Investment Policy Board list of Iran restricted companies. (https://www2.illinois.gov/sites/iipb/Pages/ProhibitedInvestmentList.aspx)

According to its Annual Report filed with the SEC in 2017: "After considering recent changes in the international situation and economic sanctions relating to Iran, Canon has restarted business with certain Iranian counterparties. Canon maintains policies and procedures designed to ensure that transactions, including transactions with Iranian counterparties, are conducted in accordance with applicable economic sanction laws and regulations."

According to its 2019 Annual Report filed with the SEC: "CMSC, a wholly-owned Japanese subsidiary of Canon Inc., had indirect sales transactions through independent distributors in Istanbul, Turkey, Sharjah, United Arab Emirates and Tehran, Iran for computed tomography, diagnostic ultrasound systems and service parts for those products with hospitals in Iran. It is our understanding that Iranian hospitals are owned or controlled by the Government of Iran (central or local government) and that their purchases are controlled through an agency of the Iranian Ministry of Health and Medical Education. Total gross sales under these contracts during the year 2019 were approximately ¥142,431 thousand. The net profit was substantially less than that." (https://www.sec.gov/ix?doc=/Archives/edgar/data/16988/000119312520087524/d768238d20f.htm)

--

"Canon Middle East manages sales, marketing and technical activities across 36 countries, including Iran, where Canon has been selling products since at least 2000, according to the company Web site."  The company received $503.2 million in revenue and benefits from the US for their business in Iran during 2000-2009.  Their business in Iran is currently active. (The New York Times, "Profiting from Iran, and the US," 3/6/2010) (http://www.nytimes.com/interactive/2010/03/06/world/iran-sanctions.html)

According to Canon’s 2016 SEC disclosure, Canon has contracts with the Iranian embassies in Tokyo, Japan, Iran Air in Kuala, Malaysia, CSPL in Thailand and India, the Iranian embassy in Australia, Consulate General of Iran in Germany, CENV Iranian embassy in Denmark. Canon has restarted business with certain Iranian counterparties.  (https://www.sec.gov/Archives/edgar/data/16988/000119312517102636/d292430d20f.htm)