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04 Seiko Epson Annual Report 2005
In this annual report, “Epson” refers to the Epson Group, while “the Company”
refers to the parent company, Seiko Epson Corporation.
Management Philosophy
Epson is a progressive company,
trusted throughout the world
because of our commitment to customer satisfaction,
environmental conservation, individuality, and teamwork.
We are confident of our collective skills
and meet challenges with innovative and creative solutions.
(The Epson Management Philosophy has been translated into 14 languages,
and is shared by all members of the Epson Group worldwide.)
Cautionary Statement
This report includes forward-looking statements which are based on management’s
views from the information available at the time of the announcement. These state-
ments involve risks and uncertainties. Actual results may be materially different from
those discussed in the forward-looking statements. The factors that may affect Epson
include, but are not limited to, general economic conditions, the ability of Epson to
continue to timely introduce new products and services in markets, consumption
trends, competition, technology trends, and exchange rate fluctuations.
Contents
Consolidated Financial Highlights . . . . . . . . . . . . . . 5
To Our Stakeholders . . . . . . . . . . . . . . . . . . . . . . . 6
Message from the President . . . . . . . . . . . . . . . . . . 8
“Action07” Mid-range Business Plan:
Overview and Progress . . . . . . . . . . . . . . . . . . . 12
Strategies for the Inkjet Printer Business . . . . . . . 14
Strategies for the 3LCD Projector Business . . . . . 16
Strategies for the Display Business . . . . . . . . . . . . 18
R&D Strategies . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
Patent Strategies . . . . . . . . . . . . . . . . . . . . . . . . . 24
Implementing Trust-Based Management . . . . . . . 26
Management Topics . . . . . . . . . . . . . . . . . . . . . . 34
Corporate History and Epson Milestones . . . . . . . 36
Principal Subsidiaries and Affiliates . . . . . . . . . . . . 38
Financial Section . . . . . . . . . . . . . . . . . . . . . . . . . 39
Corporate Data/Investor Information . . . . . . . . . . 80