Can Epson exceed its vision?
Company unveils plan for 17% profit growth by 2018, on drive to 140% profit growth by 2025
Minoru Usui, president of Epson, has a bold new 10-year vision for society and the role that the global technology company can play in making it a reality. Building on the popular ‘internet of things’ concept, Mr. Usui foresees a new connected age of people, things and information by 2025, with Epson technologies acting as enablers in the creation of a more sustainable and affluent society, in which people enjoy safer and more healthy lifestyles.
It’s an appealing vision that is a lot more than just buzz words. Mr. Usui and the company are betting on it delivering 64% global revenue growth and 140% business profit growth by 2025. Details of the Epson 25 Corporate Vision (containing an explanation of the new vision and the growth strategy to 2025) were first unveiled by Mr. Usui in March 2016, as the company prepared for the start of its 2016 fiscal year (April 1 2016 to March 31 2017).
The vision focuses on the creation of a new connected age powered by efficient, compact, precision Epson technologies that deliver value by being smart (using software to make them convenient, safe and easy-to-use anytime and anywhere), high performance and with reduced environmental impact.
Mr Usui’s previous SE15 (2013-2015) vision and business strategy was deemed a success and contributed to growth in certain strategic business areas allowing Epson to today focus on core areas of innovation in wearables, robotics, printing and visual communications. Current Epson technologies that already offer a glimpse of what is to come include the PaperLab office paper recycling system, Moverio augmented reality glasses and manufacturing robots with artificial intelligence (which enables them to sense the objects they are handling).
Mr. Usui believes that these products, and others yet to be derived from Epson’s core imaging technologies, will drive the company’s revenue to 1,700 billion yen by 2025 (from 1,100 billion yen in 2015) and raise business profit to 200 billion yen (from 82 billion yen in 2015).
Find out more about our Epson 25 Corporate Vision here: global.epson.com/company/corporate_vision