Berkshire Hathaway vs Canon: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: Berkshire Hathaway and Canon side by side

1. 1839Berkshire Hathaway

   Valley Falls Company Founded

   Oliver Chace founds the Valley Falls Company in Valley Falls, Rhode Island, as a cotton textile manufacturer. Chace had learned the trade working with Samuel Slater and built his first mill in 1806.

2. 1933Canon

   Precision Optical Instruments Laboratory opens

   Goro Yoshida, Saburo Uchida and Takeo Maeda open a camera laboratory in a Roppongi apartment in Tokyo to build a Japanese 35mm camera that could rival the Leica.

3. 1934Canon

   Kwanon prototype

   Yoshida builds the Kwanon, Japan's first 35mm focal-plane-shutter camera prototype, named after the Buddhist goddess of mercy. It never goes on sale.

4. 1936Canon

   Hansa Canon goes on sale

   The lab's first commercial camera, the Hansa Canon, uses a Nikkor lens and rangefinder supplied by Nippon Kogaku, the predecessor of Nikon. The 'Canon' trademark had been filed in 1935.

5. 1937Canon

   Precision Optical Industry incorporated

   The business is incorporated on August 10, 1937 as Precision Optical Industry, Co., Ltd. Takeshi Mitarai becomes president in 1942.

6. 1949Canon

   Tokyo Stock Exchange listing

   Canon Camera Co. (renamed in 1947) lists on the Tokyo Stock Exchange when postwar trading resumes, and opens a New York branch in 1955.

7. 1955Berkshire Hathaway

   Berkshire Fine Spinning and Hathaway Manufacturing Merge

   Berkshire Fine Spinning Associates and Hathaway Manufacturing combine and take the Berkshire Hathaway name.

8. 1962Berkshire Hathaway

   Buffett Partnership Buys Its First Berkshire Shares

   Buffett Partnership Ltd. buys its first Berkshire Hathaway shares in December 1962. Buffett was drawn to the pattern of Berkshire closing plants and using the liquidation proceeds to repurchase its own stock.

9. 1964Berkshire Hathaway

   Tender Offer Dispute With Seabury Stanton

   Berkshire president Seabury Stanton asks Buffett at what price Buffett Partnership would sell, agrees to $11.50 a share, then mails a tender offer at $11.375.

10. 1964Canon

    Canola 130 calculator

    Canon moves beyond cameras with the Canola 130 desktop electronic calculator, followed in 1970 by Japan's first plain-paper copier, the NP-1100, and its first semiconductor lithography tool, the PPC-1.

11. 1965Berkshire Hathaway

    Buffett Takes Control and Names Ken Chace President

    Buffett Partnership takes control of Berkshire Hathaway in May 1965 and Stanton leaves. Buffett selects Ken Chace, a long-time employee, as president to run the textile operation, and the cash it generates is pointed at other industries.

12. 1967Berkshire Hathaway

    Entry Into Insurance With National Indemnity

    Early in 1967 Berkshire pays $8.6 million to buy National Indemnity Company and a small sister insurer from owner Jack Ringwalt.

13. 1969Canon

    Renamed Canon Inc.

    Canon Camera Co. changes its name to Canon Inc. to reflect a product range that now spans business machines as well as cameras.

14. 1972Berkshire Hathaway

    See's Candies Bought for $25 Million

    Blue Chip Stamps, controlled by Buffett and Munger and later merged into Berkshire, buys See's Candies for $25 million.

15. 1985Berkshire Hathaway

    Textile Operations Closed

    Buffett decides in July 1985 to close Berkshire's textile operation and the shutdown is largely complete by year end. He described it as finally throwing in the towel after twenty years of unremitting struggle with the business.

16. 1987Canon

    EOS system launches

    Canon launches the EOS 650 and the all-electronic EF lens mount, the base of its autofocus SLR and later digital SLR lines.

17. 1995Canon

    Fujio Mitarai becomes president

    Fujio Mitarai takes over as president, exits personal computers and other loss-making lines, and in 1996 starts the Excellent Global Corporation Plan.

18. 1996Berkshire Hathaway

    GEICO Becomes Wholly Owned and Class B Shares Created

    Berkshire buys the remaining 49% of GEICO on January 2, 1996, having held 51%, and GEICO becomes a wholly owned subsidiary. Shareholders also approve a recapitalization creating Class B shares with the economic rights of one thirtieth of a Class A share.

19. 1998Berkshire Hathaway

    General Re and Executive Jet Acquired

    Berkshire acquires reinsurer General Re and fractional-aircraft operator Executive Jet.

20. 2003Canon

    Start of No. 1 camera share run

    Canon takes the No. 1 share of the global interchangeable-lens digital camera market, a position it has held every year through 2025.

21. 2010Berkshire Hathaway

    BNSF Railway Acquired

    Berkshire completes its purchase of Burlington Northern Santa Fe in the first quarter of 2010.

22. 2016Berkshire Hathaway

    Precision Castparts Acquired

    Berkshire completes the purchase of Precision Castparts, an aerospace and industrial components maker, for $235 a share in cash.

23. 2016Canon

    Toshiba Medical acquisition

    Canon completes the ¥665.5 billion (about $5.9 billion) purchase of Toshiba Medical Systems in December 2016, later renamed Canon Medical Systems.

24. 2018Berkshire Hathaway

    Abel and Jain Named Vice Chairmen

    Berkshire's board expands from twelve to fourteen directors and elects Greg Abel and Ajit Jain.

25. 2018Canon

    EOS R mirrorless system

    Canon launches the full-frame EOS R mirrorless system and RF lens mount.

26. 2022Berkshire Hathaway

    Alleghany Corporation Acquired

    Berkshire completes the acquisition of insurer Alleghany Corporation on October 19, 2022, paying $848.02 a share in cash for a total equity value of about $11.6 billion and adding the TransRe reinsurance business.

27. 2023Canon

    Nanoimprint lithography launch

    Canon releases the FPA-1200NZ2C nanoimprint lithography system in October 2023, able to pattern 14 nm lines, and delists its ADRs from the New York Stock Exchange in March.

28. 2024Berkshire Hathaway

    Market Value Tops $1 Trillion

    Berkshire's market capitalization passes $1 trillion on August 28, 2024, making it the first US company outside the technology sector to reach that level.

29. 2024Berkshire Hathaway

    Pilot Travel Centers Fully Owned

    Berkshire acquires the remaining 20% of Pilot Travel Centers on January 16, 2024 and takes full ownership. It had bought 38.6% in 2017 and a further 41.4% for about $8.2 billion in January 2023.

30. 2024Canon

    First NIL shipment and medical impairment

    Canon ships its first nanoimprint system to the Texas Institute for Electronics on September 26, 2024, and books a ~$1.11 billion (¥165.1 billion) goodwill impairment on its medical business for the year.

31. 2025Berkshire Hathaway

    Board Approves Abel as CEO From January 2026

    Berkshire announces in May 2025 that Greg Abel will become President and Chief Executive Officer on January 1, 2026, with Warren Buffett remaining Chairman of the Board.

32. 2025Canon

    Record net sales of ~$31 billion (¥4,624.7 billion)

    Canon reports record 2025 net sales of ~$31 billion (¥4,624.7 billion) and net income attributable to Canon Inc. of ~$2.23 billion (¥332.1 billion).

33. 2026Berkshire Hathaway

    Abel Becomes CEO and Buffett Becomes Chairman Emeritus

    Abel takes over as CEO on January 1, 2026 and Berkshire completes the $9.7 billion purchase of OxyChem from Occidental on January 2. On September 18, 2026 Buffett is named Chairman Emeritus and remains a director, and his son Howard G.

34. 2026Canon

    Phase VII plan and new president

    Canon unveils its 2026-2030 Phase VII plan, merges Canon Medical's operations into Canon Inc. on April 1, and appoints Kazuto Ogawa President and COO on March 27 while Fujio Mitarai stays Chairman and CEO.

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