Epson Named a "Winner Company" for Corporate Governance of the Year® 2023
- Epson recognized for its transparent and fair corporate governance framework and administration -
- TOKYO, Japan, January 30, 2024 -
Seiko Epson Corporation (TSE: 6724, "Epson") is pleased to announce that it has been named as a "Winner Company" in the Corporate Governance of the Year® 2023 program organized by the Japan Association of Corporate Directors. This corporate awards program is dedicated to encouraging companies that are leveraging corporate governance to achieve sound growth over the medium to long term.
Epson seeks to achieve its corporate purpose, a statement of the company's reason for being and aspirations, based on the Epson Way, which is founded on Epson's Management Philosophy and Exceed Your Vision, and sets forth our values and expectations regarding behavior. To achieve its purpose, promote sustainable growth, and increase corporate value over the long term, Epson works continuously to enhance and strengthen corporate governance to ensure transparent, fair, timely, and decisive decision-making.
Reasons for Selection
Six of the ten people on Epson's board of directors are independent outside directors, giving them a majority. Moreover, the nomination and remuneration committees are chaired by outside directors. The company is characterized by its ingenuity in executing succession plans and improving the effectiveness of governance. Outside directors can peruse documents pertaining to matters such as medium- and long-term strategies discussed at Management Meetings by executive officers and executive officer candidates. The company also systematically arranges for outside directors to meet succession candidates.
About Corporate Governance of the Year
The awards program was launched in the 2015 fiscal year as one of the Japanese government's economic growth strategies. It is intended to drive the earning power of Japanese companies and to give a boost to companies that are leveraging corporate governance to achieve sound growth over the medium to long term.
This fiscal 2023 awards ceremony was held at the Imperial Hotel Tokyo on January 29, 2024.
Corporate Governance of the Year® 2023 prize winners:
Corporate governance at Epson:
Epson is a global technology leader whose philosophy of efficient, compact and precise innovation enriches lives and helps create a better world. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson's goal is to become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.
Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of more than JPY 1 trillion.