„Shaping the Future 2030”

„Shaping the Future 2030”

Omron Corporation, headquartered in Shimogyo-Ku, Kyoto, has now announced its new long-term vision for fiscal 2030 and a three-year medium-term management plan. The ultimate goal is to increase the pace and scope of global sustainable development. In the focus of the business vision, Omron's Sensing & Control + Think technologies are expected to help solve a wide range of social challenges around the world.

Dubbed "Shaping the Future 2030 (SF2030)" by Omron President and CEO Yoshihito Yamada, the vision expands on the company's well-known philosophy. It underscores the desire to shape a sustainable society. Here, the focus is on creating social and corporate value by incorporating business growth and sustainability.

Since the company's founding in 1933, Omron has helped create a better society through solutions for areas such as industrial automation, healthcare and social systems. As the coming decade will be marked by the emergence of an "autonomous society," there are other complex issues that need attention. SF2030 shows ways to maximize human capabilities through user-centric automation technologies.

"Although we have been able to increase our profitability, responsiveness, sustainability management, and enterprise value through governance and risk management, the socioeconomic system remains dynamic. Our goal is to create strong autonomous growth and develop our corporate governance to ensure sustainable business growth," says CEO Yoshihito Yamada.

He adds: "The transition will be accompanied by disruptions in social systems caused by many factors such as climate change, aging populations and growing economic inequality, to name a few. This development will lead to new and complex social challenges, which in turn will require new technology-based and sustainable solutions. This is precisely where we want to make our contribution. By doing so, we will create greater social value."

The three social issues Omron has identified as relevant to its SF2030 vision are carbon neutrality, achieving a digital society and extending life expectancy. The company is targeting net sales of 930 billion yen (about 6.9 billion euros) and operating income of 120 billion yen (about 887 million euros) in the medium term from 2022 to 2024 in the first phase of the SF2030 management plan. The following business areas are the focus here:

  • Industrial automation: Omron aims to promote advanced developments in manufacturing to support a sustainable society. The focus is on minimizing labor shortages and increasing productivity. Omron aims to build manufacturing that shapes a sustainable future in harmony with the global environment and worker satisfaction.
  • Healthcare: Strengthened by good progress in efforts to reduce cardiovascular disease to zero, Omron will focus on preventive and remote health monitoring and continue to champion home medical devices and data-driven hypertension management to ensure more accessible healthcare and healthier lives for people around the world.
  • Social solutions: Omron is contributing to the efficient use of renewable energy and helping to create a sustainable digital infrastructure to support an autonomous society. Omron will apply its advanced energy control technology to energy generation, conservation and optimization.
  • Device and module solutions: Omron will contribute to the proliferation of new energies and high-speed communications by enabling the development of more robust, advanced and efficient devices.

The company also plans to make major changes to its corporate governance and organizational capabilities. Here's an overview of the key initiatives:

  • Shift from product to fundamental value perspective: Shifting the company's perspective from just creating performance and quality-based value to creating fundamental value that helps users participate in the development of solutions.
  • Business model development: The company seeks to expand collaboration and networking with organizations and business partners to develop better new solutions.
  • Diversity and inclusion: the belief that human resources are key to success requires investment in talent development and fostering an inclusive work culture
  • Improved supply chain resilience: Omron aims to help manage unplanned and rapid changes in the business environment, such as natural disasters or geopolitical risks, as well as drive operational efficiency, improved design development and decentralized production.
  • Sustainability: This includes CO2 neutrality, reducing environmental impact through greenhouse gas emission reduction targets, and respect for human rights on a global scale.
  • Accelerating data-driven business operations through business process digitalization (DX): supporting business transformation and empowering employees to work in a reliable, safe and progressive way.

"With the help of our SF2030 vision, we want to help shape a better society that people can always rely on," Yamada concludes.