Epson said that it will be adding to product-based R&D, where the focus will be on the development of new materials and technologies that reduce environmental impact.
Six months after announcing its ¥100 billion ($875 million/ €771 million) investment into sustainable technology innovation, Epson is further committing that its focus for future R&D investment will be on the development of new materials and technologies to reduce environmental impact.
To achieve this, and to advance global competitiveness, Epson is rethinking the fundamental ways in which it generates ideas and brings them to market, supported by new innovation and venture capital funds, the company said.
Epson said it is shifting to become a more open working environment with a ‘bottom-up’ culture to encourage and empower its teams to identify and share new opportunities faster.
Guided by a strong principle that all innovation to be rooted in solving societal problems – from minimising resources to reducing waste – employees will be better supported to share and collaborate on new ideas, with an overriding focus on sustainable solutions.
Epson added that it has committed not to pursue excessive revenue growth in favour of generating fair profit, and to supporting a sustainable society through open partnerships and co-operations leveraging its proprietary technologies, products and services.
“For innovation to be truly transformative, it requires cultural change and collaboration. These initiatives are about ensuring that all voices are heard, and all ideas are considered, as we do our part in acting for society and the environment,” said Yoshiro Nagafusa, European President, Epson.
“We see open innovation as a key driver for our future – increased collaboration, partnerships and shared knowledge enable development and innovation for the better. This is true whether we look inside our own business or outside to collaborate with others in order to solve complex problems.
“While we have long sought to operate within a healthy and open-minded corporate culture, it is important for us to keep evolving.”
Alongside this commitment, Epson is previewed the advances it has already made in the form of biodegradable and recyclable materials and innovations including biomass plastics and recycled powdered metals.
