Sanyo Epson to Change Name to Epson Imaging Devices Corporation
- TOKYO, Japan, December 26, 2006 -
Sanyo Epson Imaging Devices Corporation announced today that it would change its name to Epson Imaging Devices Corporation in accordance with its becoming a wholly owned subsidiary of Seiko Epson Corporation (“Epson”) on December 28, 2006. Changes to the company’s management structure are also to be resolved at a special shareholders’ meeting and a board of directors’ meeting, to be held on the same day.
The new management structure accompanying the name change will consolidate the company’s headquarters operations in Matsumoto and introduce a system of prompt decision-making and organizational management to complement the structural reorganization that was implemented on December 21. The company is thus fully engaged in the pursuit of an operational strategy - based on Epson’s “Creativity and Challenge 1000” mid-range business plan announced on March 16, 2006, that aims to improve earnings and maximize corporate value.
As the company becomes a wholly owned Epson subsidiary, it will further deepen collaborative ties with the Epson Group and expedite the ongoing structural reorganization of its business operations while enhancing its ability to offer high quality, broad support, and fast response to the customer in aiming to become a leading supplier of small- and medium-sized liquid crystal displays.
Corporate Profile of Epson Imaging Devices Corporation
1. Company Name: Epson Imaging Devices Corporation
2. Head Office: 6925 Toyoshina Tazawa, Azumino-shi, Nagano (current Matsumoto Head Office)
* The current Tokyo Head Office will be renamed the Tokyo Sales Office.
3. Board of Directors:
President: Shuji Aruga
Senior Managing Director: Yuzo Ichinose
Managing Director: Motoharu Komatsu
Director: Hidehiko Seki
Director: Masaru Shingu
Auditor (full-time): Kimio Takemori
Auditor (part-time): Kanji Kusabuka
Auditor (part-time): Masahiro Koyama (newly appointed)
* Executive Vice-President Takuya Kobayashi is due to retire and become a corporate advisor of Epson Imaging Devices Corporation following the December 28 special shareholders’ meeting.
* Director Kazuhiro Yoshida and Auditor (part-time) Yasuo Nakayama are due to retire following the December 28 special shareholders’ meeting.
4. Paid-in Capital: 18 billion yen (100% owned by Seiko Epson Corp.)
5. Website: http://www.epson-imaging.com/e (from approximately 11:00 a.m., December 28, JST)
Epson is a global leader in imaging products including printers, 3LCD projectors and small- and medium-sized LCDs. With an innovative and creative culture, Epson is dedicated to exceeding the vision and expectations of customers worldwide with products known for their superior quality, functionality, compactness and energy efficiency.
Epson is a network of 102,025 employees in 120 companies around the world, and is proud of its ongoing contributions to the global environment and to the communities in which it is located. Led by the Japan-based Seiko Epson Corp., the Group had consolidated sales of 1549.5 billion yen in fiscal 2005.
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