| -Targets 930 billion yen net sales and 120 billion yen operating income in the 1st phase (FY 2024)
KYOTO, Japan, March 9, 2022 /PRNewswire/ — OMRON Corporation (HQ: Shimogyo-Ku, Kyoto. President and CEO: Yoshihito Yamada) has announced its new long-term vision for fiscal 2030, and the three-year medium-term management plan in a virtual press conference held today. With an objective to strengthen the pace & expanse of worldwide sustainable development, the vision strives to solve more & diverse social issues through OMRON’s Sensing & Control + think technologies, as explained by its President and CEO Yoshihito Yamada. Named as “Shaping the Future 2030 (SF2030)”, the vision is an extension of the organization’s renowned corporate principles-based management philosophy that underscores OMRON’s sincere desire to shape a sustainable society through continuous creation of social as well as corporate value via integration of business growth and sustainability. Keeping in sync with the dynamic nature of the socio-economic environment, over the last 89 years of its inception (since 1933), OMRON has been flourishing and sustaining its growth by living up to its vision of contributing towards creation of a better society via solving social issues through industrial automation, healthcare and social systems solutions. Envisioning that the upcoming decade is going to indicate the advent of ‘autonomous society’ [1] and unfold many more diverse & complex social issues, OMRON’s long term vision, SF2030 enumerates the ways to maximize human capabilities through people-oriented automation technologies. This encompasses creation of more harmonious & stronger relationships between humans and machines. The company believes that this harmony is the key to bring out the best in people helping them to solve issues and lead more fulfilling and better lives. This will in turn drive the company create newer corporate and social values enabling it to sustain & strengthen its purpose of existence. “Though we have been able to bolster our profitability, our responsive to change, implementation of sustainability management and our corporate value through reinforced corporate governance and risk management, the socioeconomic system remains dynamic and continues to undergo major changes. We aim to create a strong autonomous growth model and further evolve our corporate management to ensure a sustainable business growth,” says Mr Yoshihito Yamada, President and CEO, OMRON Corporation. Recognizing the imminent transition in the economic systems – from mass consumption & production to pursuit of global sustainability as one of the major transformations in the Autonomous society, Mr Yamada further explains, “The transition will be accompanied with disruptions in the social systems led by many factors such as climate change, aging population, and growing economic disparity among individuals to name just a few. This scenario will give rise to new and complex social issues which will need newer tech-enabled and sustainable solutions. And this is where we aim to enhance our contribution. If we do so, we will not only create more social value but will also maximize our corporate value automatically.” The three social issues that OMRON has identified as relevant opportunities and aims to address through its businesses in SF2030 are achievement of carbon neutrality, realization of a digital society, and extension of healthy life expectancies. The company aims to clock in net sales of 930.0 billion yen and operating income of 120.0 billion yen (FY2022-FY2024) – the 1st phase of SF2030 three-year medium-term management plan – by pursuing the following business directions for the identified social issues:
Along with financial milestones, the company has also enlisted 10+1 non-financial targets as part of its management goal. These non-financial targets have a relevant connect with many Sustainable Development Goals (SDGs) & needs of local communities underlining the alignment of the company’s commitment to society. In order to support these ambitious directions, OMRON aims to bring in strong transformations in its corporate management and organizational capabilities too. Here is a low-down of the key initiatives :
“With SF2030, our aim is to shape a better society and while doing so become a corporate group that people can always depend on. An organization that continues to live up to the high expectations of people from around the world,” sums up Mr Yamada. [1] : According to the SINIC theory, conceptualized by OMRON’s founder Kazuma Tateisi, the Optimization Society – the final phase of the Industrialized Society – began in 2005, following on from the Information Society, and this will subsequently shift to the Autonomous Society by 2025. The Autonomous society will be characterized by human desires aiming to realize abundant lives and self-fulfillment based on harmonious relationship between people and machines. Read more here Editor’s note :
About OMRON : OMRON Corporation, as a leading company in the field of automation, which features its unique “Sensing & Control + Think” core technology, is engaged in a broad spectrum of businesses, including control equipment, electronic components, social systems, and healthcare. Founded in 1933, OMRON Corporation currently employs approximately 30,000 people and provides products and services in around 120 countries and regions around the world. For more details, please go to: https://www.omron.com/global/en/ |
(Disclaimer: The above press release comes to you under an arrangement with NewsVoir India and this publication takes no editorial responsibility for the same)