According to Mental Floss, Canon started out as Kwanon.

When Precision Optical Instruments Laboratory started developing Japan’s first-ever 35mm camera equipped with a focal plane shutter, the engineers dubbed the creation “Kwanon” after the Buddhist goddess of mercy. At this point the company’s logo even included the thousand-armed goddess.

When the camera was ready to roll out worldwide in 1935, the company decided to tweak the name to “Canon” so it would be easier for international markets to accept.

Kwanon EOS 5D, sounds better to me. 🙂