OMRON Corporation has recently announced its new long-term vision for fiscal 2030, and the three-year medium-term management plan in a 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 “Shaping the Future 2030 (SF2030)”, the vision is an extension of the organization’s renowned corporate principles-based management philosophy that underscoresOMRON's sincere desire to shape a sustainable society through the 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 toward the 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' 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 the creation of more harmonious & stronger relationships between humans and machines. The company believes that this harmony is the key to bringing out the best in people helping them to solve the issues and lead more fulfilling and better lives. This will in turn drive OMRON to 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 responsiveness 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 sustainable business growth,” says Yoshihito Yamada, President and CEO, of OMRON Corporation.
Recognizing the imminent transition in the economic systems – from mass consumption & production to the 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, ageing 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 the achievement of carbon neutrality, the realization of a digital society, and the 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 SF2030three-year medium-term management plan – by pursuing the following business directions for the identified social issues.
Industrial automation
The business will catalyze the advancement of manufacturing that is well prepared to support a sustainable society. Continuing with its focus on easing labour shortages, and enhancing productivity in various industries, OMRON will evolve its innovative Automation approach with the aim of building a production floor that shapes a sustainable future where both harmonies to the global environment and worker satisfaction are achieved.
Healthcare
Buoyed by the great progress of its ongoing "Zero Events" direction (the efforts to reduce events of cardiovascular disease to zero) OMRON will intensify its focus on the preventive & remote healthcare monitoring domain while continuing to advocate the adoption of home-use medical devices and data-based hypertension management ensuring more accessible healthcare and healthier lives for people across the globe.
Social Solutions
Contributing to the adoption and efficient use of renewable energy, OMRON will help to create a sustainable infrastructure to support the digital sustenance of the upcoming autonomous society. OMRON will use its advanced energy control technology for energy harvesting, conservation & optimization.
Device & module solution
Omron will make more contributions to the spread of new energy and high-speed communication by enabling the creation of sturdier, more advanced, and more efficient devices making the lives of people easier and better.
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 connection with many Sustainable Development Goals (SDGs) & needs of local communities underlining the alignment of the company’s commitment to society.
