- To Our Stakeholders -
Contributing to Achieving Sustainability and Enriching Communities
We at Epson exercise creativity and challenge ourselves to deliver products and services that exceed the expectations of our customers by drawing on the efficient, compact, and precise technologies we have developed since the company was founded.
The environment in which we operate is constantly changing, and we are presently confronted with serious issues, from climate change and global inflation to regional conflicts. In times like these, people seek more than just material wealth. They want their lives to be enriched in other ways as well, including both spiritually and culturally. In the past, we tended to run our businesses with the idea of contributing to the world through our technology.
Now, under Epson 25 Renewed, the revised corporate vision that we introduced in March 2021, we are taking a different approach, one in which we first identify societal issues and consider how we can use our technology to resolve them. We named four material issues in terms of impact that we wish to address in order to resolve societal issues: (1) achieving sustainability in a circular economy, (2) advancing the frontiers of industry, (3) improving the quality of life, and (4) fulfilling our social responsibility.
First, to achieve sustainability in a circular economy, we are helping our customers reduce their environmental impact by providing them with products and services that employ hardware and digital technology built around Epson's efficient, compact, and precision technologies, which enable reduced energy consumption and smaller goods while increasing their accuracy and performance.
At the same time, we announced our intent, in Environmental Vision 2050, to become carbon negative and underground resource free by 2050. We made strides toward the first objective by switching to 100% renewable electricity last year at all major Epson sites in Japan and are now working to do the same at all Epson Group sites around the world by 2023 to combat global warming.
Second, we are advancing the frontiers of industry by accelerating the pace of digitization and automation to improve the working environment in production plants and printing processes. Meanwhile, we are helping to reduce environmental impact globally while meeting market needs by alleviating factory labor shortages, enabling short-run production and faster turnaround times, and increasing productivity. In addition, by evolving sensing and IT technologies, we will further improve working environments and provide a high-quality educational environment.
Third, we are improving the quality of life regardless of lifestyle in numerous ways. For example, we are providing high-performance vibration sensors to measure the health of bridges and health support devices that offer personalized health support. We are also providing affective value through the products themselves -and this is especially true with products such as watches. Conversely, we are also providing projectors and textile printers that can be used to create designs and works of art that appeal to people on an emotional level.
Finally, we are fulfilling our social responsibility as a corporate citizen by tightening governance, promoting respect for human rights and diversity, and taking responsibility for our supply chain and the materials in products that we provide to our customers.
Epson will address these four material issues by driving innovation in office and home printing, commercial and industrial printing, manufacturing, visual products, and lifestyle. These innovations will enable us to provide products and services that exceed customer expectations and to help resolve societal issues.
Abnormal weather patterns are growing more obvious by the year, and it is still not clear when we will see relief from disruptive events such as climate change and regional conflicts. In the meantime, however, we will work toward our goal of achieving sustainability and enriching communities not only materially and economically but also in less tangible ways, including spiritually and culturally..