The OEM has declared the change of several key members of its executive team, with the intention of “further strengthening its corporate governance,” at the same time as publishing a mixed set of financial results.
Epson hopes that the changes to its top-level workforce will “accelerate its efforts to create a strong organisation capable of generating ongoing improvements in corporate value and growth.”
Yasunori Ogawa has been appointed as Director and Executive Officer by the OEM, having previously acted as Chief Operating Officer of its Visual Products Operations Division. Meanwhile, Taro Shigemoto moves from his current position as Special Audit & Supervisory Officer to become a Director and full-time Audit and Supervisory Committee member.
Shigemoto replaces current Director Noriyuki Hama, who is retiring at the end of his term. The retirement of Tadaaki Hagata was also announced; Hagata is stepping down as Managing Executive Officer and the President of Epson Precision (Philippines).
In other appointments, Kazunori Kumakura, the sitting General Administrative Manager of the IT Division, and Yoshifumi Yoshida, presently COO of the OEM’s Robotics Solutions Operations Division, have both become Executive Officers.
Akikhiko Toeda becomes Epson’s Special Audit and Supervisory Officer, replacing Taro Shigemoto. Toeda is currently General Administrative Manager of the Compliance Office and Deputy General Administrative Manager of the Management Control Division. The changes are due to come into effect on the 27th of June.
As well as the personnel announcements, the OEM has also published its Full Year financial results, with a decidedly mixed picture emerging.
The company’s total revenue increased in 2017-18, compared to the previous financial year, now hitting ¥1.1 trillion ($10.06 billion/€8.32 billion), a rise of 7.5 percent. Meanwhile, its business profit rose by 13.6 percent, to reach ¥74.7 billion ($683.1 million/€565.5 million).
However, there was disappointment elsewhere, as the OEM saw its profit from operating activities drop, by 4.3 percent from the year before; it now sits at ¥65 billion ($594.4 million/€492 million). Similarly, profit before tax fell to ¥62.6 billion ($572.5 million/€473.9 million), a dip of 7.1 percent from 2016-17.
There was an even more pronounced drop in Epson’s total comprehensive income for 2017-18, falling to ¥41.5 billion ($379.5 million/€314.1 million), a decrease of 25.7 percent.
