The most famous brand canon actually evolved from a  Precision Optical Instruments Laboratory established back in 1933. In 1934 it produced the Kwanon, a prototype for Japan’s first-ever 35 mm camera with a focal plane based shutter.
 The first set of cameras was manufactured 
as a part of business trial and these early birds were named Kwanon 
after the Buddhist Goddess of Mercy. Now this Goddess was the possessor 
of thousand arms and spat flames.
From the very beginning, the company 
worked with an ambition of reaching out to the outer world and as such 
the company wanted to adopt a name that will be acceptable globally. 
With this intention, the company name was changed from Kwanon to Canon 
and it was registered as the  logo trademark name of the company in the year 1935.
 
thanks for the information!
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