Seiko Epson Corporation announces establishment of a new long-range corporate vision and a new mid-range business plan. Through its ‘The Epson 25 Corporate Vision’ the company aims to chalk the strategic path over the next decade, commencing from the 2016 fiscal year to March 2017 extending to the start of the 2025 fiscal year. The company shares in a report that, the Epson 25 Mid-Range Business Plan (FY2016-2018) is a three-year plan for the first phase of work toward achieving the vision.
SE15 Corporate Vision and SE15 Mid-Range Business Plan (FY2013-2015) review
Under the SE15 Corporate Vision that began in FY2009 and the SE15 Updated Mid-Range Business Plan the company has followed since FY2013 focused on its strengths and transformed its business portfolio by shifting to new business models and product lineups in existing businesses and by opening up new business domains and also significantly advancing in some new business areas. The company identified issues in these areas that it must address to secure future growth and also acquire knowledge in these new areas. Further expansion and upgrade of sales and support within the organization is also given eminency. On the whole, however, the actions taken under SE15 are yielding results in each business. The company is now structured to generate a steady flow of cash and, with exchange rates acting as a tailwind, Epson has achieved a solid financial turnaround.
Epson 25 Corporate Vision
This blueprint is inked in regards of the envisaged in the business environment and mega trends marking Epson’s position in 2025.
- Creating a new connected age
Epson aims to help free people from repetitive manual work and from unnecessary wastes of effort and time. Epson’s goal is to heighten people’s creativity, and to create a sustainable and affluent society in which people enjoy safe and healthy lifestyles.
- People, things, and information
Advances in information and communications technology will mean increasing amounts of information will become available on the internet, causing cyber space to continuously expand. As a company that specializes in generating value in the real world, Epson will refine its technologies, and will work with IT companies to increase the value of its technologies it provides to customers.
- Efficient, compact and precision technologies
Epson will leverage its efficient, compact and precision technologies to generate value in three areas: smart technologies, the environment and performance. Smart technologies: Use advanced products and software so customers can easily, conveniently, and securely use Epson products anywhere and anytime.
Environment: Contribute to the development of a sustainable society by leveraging its technologies to reduce the environmental impact of its products and services across their life cycles.
Performance: Create new and higher value by providing outstanding products that contribute to customer productivity, accuracy and creativity.
Business strategy in each innovation area
Epson 25 identifies four areas where it will drive innovation: inkjet innovation, visual innovation, wearables innovation, and robotics innovation. Microdevices are seen as supporting these areas of innovation. Epson will generate value in the form of smart technologies, the environment, and performance across these four areas of innovation. The company will also strengthen IT and business infrastructure in human resources, technology, manufacturing, sales & support and environment to support the achievement of the Epson 25 Corporate Vision.
Strategy in each business domain
Printing: Inkjet innovation
Refine Micro Piezo technology, and expand into high-productivity segments. Improve environmental performance and create a sustainable printing ecosystem.
Visual communications: Visual innovation
Refine original microdisplay and projection technologies, and create outstanding visual experiences and a natural visual communications environment for every aspect of business and lifestyles.
Wearables: Wearables innovation
Leverage our watchmaking heritage, refine timekeeping and sensing accuracy, and offer a sense of status and fashion.
Robotics: Robotics innovation
Combine our core technologies with sensing and smart technologies in manufacturing, expand applications, and create a future in which robots support people in a wide variety of situations.
Microdevices: Supporting the four innovations
Contribute to Epson’s finished products and to the development of smart communications, power, transportation and manufacturing systems with advanced Epson quartz timing and sensing solutions and low-power semiconductor solutions.
Financial targets in the Epson 25 Mid-Range Business Plan (FY2016-2018)
Initiatives in each business
- In the printer business, Epson will establish a competitive advantage in the home printer market by boosting the attractiveness of products, and get office market development on track with linehead models.
- In professional printing the company will establish outstanding competitive advantage with hardware, improve support and other organizational infrastructure, and achieve solid growth in new domains.
- In visual communications strengthening presence in the projection market and will use laser light sources to pave the way to rapid growth in new markets.
- In wearable products, major focus on building wearables into a core business by refining watch resources and combining them with sensors to create families of differentiated products
- In robotics solutions, the company will create a framework for growth on top of Epson’s technology base.
- In microdevices, the company aims at developing a stable business platform in the quartz business by building competitive strength. The semiconductor business, meanwhile, will create new core technologies and devices.
To read the complete overview of the vision:
Epson 25 Corporate Vision:
Epson 25 Mid-Range Business Plan (FY2016-2018):