Message from Management
- To Our Stakeholders -

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Aiming to Be an Indispensable Company

Realizing Our Management Philosophy and Becoming an Indispensable Company

Minoru Usui

Epson currently employs over 68,000 persons worldwide. I feel a tremendous responsibility to them as well as to our countless stakeholders-our suppliers, customers, shareholders, and the people in the communities where we operate.

The business environment during the 2012 fiscal year (ended March 2013) was difficult, with advanced economies slow to recover and growth in emerging markets slowing. But regardless of the business environment, we are united as a company in our desire to make Epson an indispensable company for customers and society by embodying the ideals spelled out in Epson's Management Philosophy.

Epson is on the cusp of transforming itself into a company that once again posts strong growth by creating and providing new information tools and equipment for businesses and professionals, as well as for consumers. Epson's Updated SE15 Mid-Range Business Plan (FY2013-15), launched in April 2013, is a three-year plan for building the foundation for that transformation. We have already realigned our businesses, concentrating our management resources on select areas. We are now ready to further hone our strengths and create unique products that drive additional growth in existing businesses or open up new business areas.

Exceeding Customer Expectations with Great and Original Products

To provide value that exceeds the expectations of our customers, we first have to look hard at the needs that arise from their wants, expectations, and problems. We then have to correctly read the underlying trends, following them to explore the potential future needs. Our responsibility is to then bring Epson's strengths to bear so that we can provide the best solutions to satisfy those needs.

With roots in wristwatch manufacturing, Epson has for seven decades resolutely developed and pursued advances in technologies to make products smaller, more energy efficient, more precise and more accurate. These advanced technologies have yielded original core technologies that help define Epson, including in inkjet and projection systems. We are using these technologies to create unique, customer-pleasing products. These products, augmented by ever-evolving information technology and social infrastructure, are now being turned into solutions that precisely meet customer needs.

Becoming an Indispensable Company through Products, Services, and Conduct that Garner Trust

The fundamental key to being recognized as an indispensable company by customers and society is trust that is built through the course of business activities. Essential to earning trust is compliance. All Epson executives and employees are, of course, obligated to observe legal and regulatory requirements, internal regulations and policies, and a corporate code of conduct. Moreover, we as a company are morally bound to help solve issues such as environmental problems and human rights abuses. Epson joined the United Nations Global Compact in 2004 and, in 2005, established "Principles of Corporate Behavior," a code of conduct that reflects the ten principles of the Global Compact and which all Epson executives and employees are required to uphold. In April 2013, Epson established a Compliance Office to further solidify compliance and risk management. Going forward, through the conduct of our people and the value and quality of our products and services, Epson will garner trust around the world and contribute to society. In so doing, we hope to become an indispensable company.

July 2013
Minoru Usui
Minoru Usui
Seiko Epson Corporation