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    6724   JP3414750004

SEIKO EPSON CORPORATION

(6724)
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Seiko Epson : Sustainability Management

11/27/2021 EST

Epson

CEO Message

Corporate Vision

Value Proposition

Financial

Value Creation

Sustainability

Value Creation

Fact Data

INDEX

Integrated Report 2021

Strategies

Strategy

Management

Platforms

Sustainability Management

Epson's Management Philosophy, which was established in 1989, declares our commitment to customer satisfaction and sustainability and embodies the ideals of the SDGs and sustainability management. With the Management Philosophy as a guide, we will continue to contribute to solutions to societal issues. The uncertainty created by COVID-19 has made now the time to practice sustainability management in collaboration with like-minded internal and external partners to realize a brighter world.

With the Management Philosophy as a guide, we will continue to contribute to solutions to societal issues

Tatsuaki Seki

Director, Managing Executive Officer

Chief Compliance Officer

General Administrative Manager, Corporate Strategy

and Management Control Division

/ Sustainability Promotion Office

The global sustainability movement has rapidly accelerated in recent years, as evidenced by the expansion of ESG investment and the formulation of national and regional sustainability policies such as the European Green Deal. Today more than ever, companies must demonstrate how they are responding to the issues facing society through sustainability and growth strategies based on sustainability initiatives. Epson has identified four materialities, including achieving sustainability in a circular economy and advancing the frontiers of industry, as key topics that it should address by capitalizing on its efficient, compact, and precision technologies and other technology assets. The company is working in line with its value creation story to find solutions to societal issues and provide value.

In April 2020, we integrated our CSR and corporate shared value creation (CSV) activities to accelerate efforts to achieve social sustainability and sustained company growth. In conjunction with this, we reorganized the CSR Management Office to create a new Sustainability Promotion Office.

In the 2021 fiscal year, Epson, responding to demands to adopt the TFCD recommendations and demonstrate business sustainability, assessed the quantitative financial impact of climate change from both a risk and opportunity perspective and disclosed the results. In 2019, Epson joined the Responsible Business Alliance (RBA), a global coalition dedicated to corporate social responsibility (CSR) in global supply chains, and is executing actions to strengthen its value creation infrastructure in line with the RBA Code of Conduct.

SustainabilityPromotion Organization

Epson's Sustainability Promotion Office reports directly to the president. The office is headed by an executive officer who has responsibility and authority for sustainability activities (sustainable growth based on societal needs) across the entire Epson Group. The CSR Executive Council, which is made up of executive officers and other members of executive management, serves as an advisory body to the president. The role of the council was revised. It is now responsible for investigating and deciding the strategies and direction of sustainability activities across the Epson Group and was thus renamed the Sustainability Strategy Council.

The Sustainability Strategy Council reviews social trends, formulates long-term strategies for sustainability for the entire Epson Group, reviews actions taken, and discusses initiatives for addressing important issues. The Sustainability Management Committee is subordinate to the Sustainability Strategy Council. It studies and discusses matters related to sustainability that require specialized knowledge. This council, which is composed of the general managers of certain supervisory departments, advises and reports to the Sustainability Strategy Council.

The Sustainability Promotion Office handles the administrative affairs of these two meeting bodies, regularly reports to the board of directors, and endeavors to increase the effectiveness of sustainability activities.

Promotion

Organization

Board Meeting

President

Sustainability Strategy Council

Sustainability Officer (board director)

Sustainability Management Committee

Functional

Sustainability Promotion Office

supervisory department

Functional

Executive organizations

supervisory department

45

Epson

CEO Message

Corporate Vision

Value Proposition

Financial

Value Creation

Sustainability

Value Creation

Fact Data

INDEX

Integrated Report 2021

Strategies

Strategy

Management

Platforms

Sustainability Management

Deciding Materiality

When establishing the Epson 25 Renewed corporate vision in 2021, Epson referenced the societal issues and megatrends described in ISO 26000 and other sources, evaluated them from both a company perspective and a social perspective, and identified the high-priority issues (materialities) that Epson should address to solve societal issues.

Material Trends and Frameworks Referenced

  • The Sustainable Development Goals (SDGs)
  • Task Force on Climate-related Financial Disclosures (TCFD)
  • Macro trends in the social and economic fields, including climate change (European Green Deal Policy, Paris Agreement, etc.)
  • Global Japan: 2050 Simulations and Strategies
  • GRI Standard
  • SASB Standard
  • ISO 26000
  • Socially Responsible Investing (SRI) survey items
  • Responsible Business Alliance (RBA) Code of Conduct

The Process for Determining Materiality

Filter and select which societal issues to address based on an

Selecting societal issues assessment of social trends on the horizon, ESG investor expectations, and Epson's own direction.

Evaluating importance

Consider materiality while evaluating the importance of selected

issues to society and to Epson at Corporate Strategy Council

meetings, etc.

Have outside directors and Audit & Supervisory Committee

Analyzing validity

members analyze the validity of the materiality selection process

and conclusions at meetings of the Sustainability Strategy

Council and Board of Directors.

Deciding materiality

Identify and decide on materiality at meetings of the Sustainability

Strategy Council.

Materiality

Importance from Epson's perspective

Achieve sustainability

PhilosophyManagement

BehaviorCorporateof Principles

perspectivesocietala from Importance

in a circular economy

social responsibility

Materiality

Advance the frontiers

of industry

Improve the quality

of life

Fulfill our

  • We evaluated the importance of societal issues from both society's perspective and from Epson's perspective, selected the highest priority societal issues that Epson should focus on through its business operations, and decided on four materialities.

46

Epson

CEO Message

Corporate Vision

Value Proposition

Financial

Value Creation

Sustainability

Value Creation

Fact Data

INDEX

Integrated Report 2021

Strategies

Strategy

Management

Platforms

Sustainability Management

Key Sustainability Topics

In the 2021 fiscal year, Epson selected 12 key sustainability topics to enable us to address four newly identified priority issues (materialities). Epson has incorporated these topics in its mid-range action plans and is driving initiatives to address societal issues and contribute to the SDGs.

Materiality

Key Sustainability Topics

Examples of Medium-Term Actions

Decarbonization initiatives

Using renewable energy and energy-saving equipment and facilities, removing greenhouse gases, engaging suppliers,

and pursuing carbon-free logistics

Achieve sustainability

Closed resource loop initiatives

Using resources effectively, minimizing product loss, ensuring long use of products (refurbishment, reuse, etc.)

in a circular economy

Reducing the environmental

Reducing power consumption, extending service life (providing long-term corrective maintenance), scaling down

impact of customers

production equipment

Environmental technology

Applying Dry Fiber Technology, using naturally derived (plastic-free) materials, recycling raw materials (metals, paper)

development

Advance the frontiers

Improving productivity through

Transitioning to distributed production, local production, and low-volumehigh-mix production; driving printing innovations; supporting

digitalization and automation

diverse customer needs; innovating production processes and printing processes through the application of inkjet technology

of industry

Improving the work and

Creating clean, space-efficient workspaces, relieving labor shortages through automation, supporting remote learning

education environments

and remote work, creating a fair and high-quality learning environment

Enriching diverse lifestyles

Providing personalized health support and safety services that reassure; providing products that are immediately

Improve the quality

adaptable to lifestyle changes

of life

Realizing lives that are rich,

Providing products such as high-quality watches with appealing designs, expanding products and services in spatial

dynamic, and interesting

design and art

Increasing stakeholder

Responding to needs and social demands by strengthening dialogue with customers, shareholders, investors,

engagement

suppliers, NGOs / NPOs, international organizations, employees, and potential stakeholders

Fulfill our social

Realizing responsible supply

Carrying out socially responsible activities that promote human rights and good environmental practices throughout the

chains

supply chain, and stably providing customers with products and services by strengthening business continuity management

responsibility

Respecting human rights and

Preventing harassment and respecting human rights, utilizing human resources in a way that respects diversity,

promoting diversity

recruiting and developing human resources, and creating a free and open organizational culture

Strengthening governance

Accelerating and ensuring the transparency of management decision-making, improving the risk management system,

ensuring 100% compliance, and strengthening information security

47

Epson

CEO Message

Corporate Vision

Value Proposition

Financial

Value Creation

Sustainability

Value Creation

Fact Data

INDEX

Integrated Report 2021

Strategies

Strategy

Management

Platforms

Sustainability Management

Top Commitment

Epson is committed to co-creating sustainable and enriched communities by addressing solutions to environmental

problems and other societal issues, as well as by providing surprise and delight that exceed customer expectations. This

commitment is aligned with the sustainable development goals (SDGs) adopted by the United Nations.

Key Sustainability Topics and Their Relationship to the 17 SDGs

We will contribute to the achievement of a better and more sustainable future as envisioned by the SDGs by using our

efficient, compact, and precision technologies and digital technology to connect people, things, and information and by

There are 169 targets under the SDGs. The figures in the table below

applying new ideas and methods to create fresh value.

indicate the targets that Epson is addressing (as of August 2021).

G

Yasunori Ogawa President and CEO Seiko Epson Corporation

S

Relevance to SDGs

Materiality

Key Sustainability Topics

E

Decarbonization initiatives

1.5

2.4

7.2

8.4

9.4

12.2

13.1

14.3

17.17

nE

12.4

13.2

Achieve

7.3

12.8

13.3

15.1

Closed resource loop initiatives

o r i v

2.4

6.3

7.2

8.4

9.4

11.6

12.2 12.8

13.2

14.1

17.17

sustainability

12.4

15.4

Reducing the environmental

6.4

7.3

12.5

13.3

15.5

in a circular

mn

3.9

6.3

7.3

8.4

9.4

11.6

12.2 12.8

13.2

14.1

15.115.5

17.7

economy

impact of customers

6.4

12.4

13.3

14.3

15.2

17.17

tn e

12.5

15.4

Environmental technology

2.4

3.9

7.3

8.4

9.4

11.6

12.2

13.2

14.1

15.2

17.7

development

12.5

17.17

Advance

Improving productivity through

7.3

8.2

9.4

17.16

the frontiers

digitalization and automation

17.17

Improving the work and

4.1

4.5

8.2

17.16

of industry

4.2

4.6

6.3

education environments

4.3

4.7

8.5

17.17

Improve

4.4

4.a

Enriching diverse lifestyles

3.d

4.2

9.c

17.16

4.7

17.17

the quality

Realizing lives that are rich,

17.16

of life

3.6

dynamic, and interesting

17.17

Increasing stakeholder

1.1

3.6

4.1 4.5

5.1

6.1 6.4

7.1

8.2 8.6

9.4

10.2

12.2

12.6

13.1

14.1

15.1 15.4

16.1 16.5

17.16

S

2.4

4.2 4.6

11.6

16.2 16.6

engagement

1.2

3.9

4.3 4.7

5.2

6.2

6.5

7.2

8.4

8.7

9.c

10.3

12.4

12.8

13.2

14.2

15.2 15.5

16.3 16.7

17.17

o

1.5

3.d

4.4 4.a

5.5

6.3

6.6

7.3

8.5

8.8

10.7

12.5

12.a

13.3

14.3

15.3 15.7

16.4 16.10

Realizing responsible supply

1.1

4.1

4.5

5.1

6.1 6.4

7.1

8.2 8.6

10.2

12.2 12.6

13.1

14.1

15.1 15.4

16.1 16.5

17.16

i c

3.9

9.4

11.6

Fulfill

chains

1.2

4.3

4.7

5.2

6.2

6.5

7.2

8.4

8.7

10.3

12.4

13.3

14.2

15.2 15.7

16.2 16.10

17.17

4.4

5.5

6.3 6.6

7.3

8.5 8.8

10.7

12.5

14.3

15.3

16.4

our social

Respecting human rights and

l a

1.1

4.1

4.4

5.1

8.2

8.7

10.2

12.a

responsibility

promoting diversity

1.2

4.2

4.5

5.5

8.5

8.8

10.3

Governance

4.3

4.7

8.6

16.3 16.7

Strengthening governance

16.4 16.10

16.5

16.6

Epson confirmed that its initiatives are relevant to all 17 SDGs.

  • The figures in the table below indicate which of the 169 targets (1.1 to 17.19) under the SDGs Epson is addressing with its initiatives (August 2021)

48

Disclaimer

Seiko Epson Corporation published this content on 27 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2021 08:50:09 UTC.


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Sales 2022 1 141 B 10 017 M 10 017 M
Net income 2022 56 276 M 494 M 494 M
Net cash 2022 55 089 M 484 M 484 M
P/E ratio 2022 12,2x
Yield 2022 3,12%
Capitalization 687 B 6 039 M 6 035 M
EV / Sales 2022 0,55x
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Nbr of Employees 79 944
Free-Float 73,3%
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EPS Revisions
Managers and Directors
Yasunori Ogawa Manager-VI Business Promotions
Minoru Usui Manager-IJ Development Design
Sunao Murata Head-Technology & Deputy GM-DX Promotions
Kazuhiro Ichikawa Executive Officer & GM-Technology Development
Tatsuaki Seki Director, GM-Administration & Head-Compliance