80 Year Journey Chapter 5.2

Epson emerged from nature's magnificence along the shores of Lake Suwa.

Our connection to this ecosystem drives our business. Technologies that propel the development of innovative new products must contribute to a thriving environment. Epson's unique, efficient, compact, and precision technologies represent this philosophy. It's in our DNA. Our history of creativity and challenges originated from assembling watch components, leading to the development of technologies responsible for many world-first products.

From printers and projectors to robots and wearables, our technologies improve life worldwide. In 2022, we at Epson celebrate our 80th anniversary. We promise to continue to serve society and our planet, creating a sustainable future that enriches people's lives everywhere.

Yasunori Ogawa

President and CEO

Seiko Epson Corporation

Seiko Epson Corporation celebrates its 80th anniversary in 2022. We would like to express sincere gratitude to our many customers and stakeholders for their support.

Located near the shore of Lake Suwa, Epson embarked on its journey as a watch parts manufacturer. The company's founder pledged never to pollute Lake Suwa, and we continue to honor his pledge to this day.

We at Epson have always exercised creativity and challenged ourselves to deliver products and services that https://hybris.ea.epson.net/cmscockpit/cockpit/images/icon_func_inlinetext_openwysiwyg.pngexceed the expectations of our customers around the world by drawing on the efficient, compact, and precision technologies we have developed and refined since the company was founded in 1942.

In March 2021, we updated our corporate vision, Epson 25, and are now operating under Epson 25 Renewed, which defines "achieving sustainability and enriching communities" as our aspirational goal. In the past, we sought to use our strong technologies to create innovative products. Going forward, we will also look to wield our technologies to solve societal issues, focusing particularly on overcoming global environmental challenges.

I believe that our purpose as a company is to contribute to society and to employee happiness. I also believe that the two are inseparable. Taking care of our employees and contributing to society will generate confidence and pride internally that will drive us to further contribute to society.

We will continue to work together with our many stakeholders to solve societal issues, achieve sustainability, and improve the quality of life around the world.

Connecting the world with microdisplay technology

Microdisplay technology lies at the heart of Seiko Epson's LCD projectors and other visual communications products. It combines Epson's proprietary HTPS (high-temperature polysilicon TFT liquid crystal) panel technology with various optical and design technologies.

Before LCD projectors, projectors were large and heavy, not portable, and required room darkening due to their low brightness. However, Epson's 3LCD projectors, the world's first projectors to use three HTPS panels, are characterized by their brightness and ease on the eyes. Not only has it contributed to the culture of large-screen presentations, but it has also been used in educational settings and home theaters. Thus, it has maintained its grip on the top share in the 500+ lumen projector market during the 20 years from 2001 to 2021.

Epson's microdisplay technology has its origins in the Seiko Quartz LC V.F.A. 06LC, the world's first digital watch with a six-digit LCD display, introduced in 1973. The product was highly evaluated for its display which offeres low power consumption and high visibility. Epson went on to launch a liquid crystal business for areas other than wristwatches. This eventually evolved into the current projector business. However, not all was smooth sailing at first in the projector business.

Development of the VPJ-700, a compact full-color LCD video projector

In 1988, Seiko Epson became the first in the world to adopt LCD technology in a projector, and in 1989 launched the VPJ-700, a compact full-color LCD video projector.

However, selling the world's first projector was not easy. The engineering team was expanded to more than 20 members to launch the improved VPJ-2000, but sales did not increase, making the situation worse. At the time, video cameras and other products were becoming increasingly popular, but the need for LCD projectors as a device for projecting images in daily life and in business was limited.

With business continuity in jeopardy, the management decided to downsize and rebuild the business. The first action they took was to research the market by visiting customers around the world.

The last chance: Discovering opportunities

Five engineers and two sales representatives were chosen to reinvent the LCD projector business. Considering that the original team had around 20 people, the team was trimmed considerably. The members started visiting various client companies around the world. With the repetition of these steady efforts, they successfully discovered a specific need in the market.

It was in the U.S., where personal computers were in wide use and business presentations were commonplace, to deliver presentations on a large screen connected to the PC.

Seeing that the spread of personal computers had the potential to expand the projector market, the team identified key factors were not only brightness and high resolution to enable projection in brightly lit rooms, but also small size and light weight for portability, and finally, direct connection to a PC. With a goal to double the brightness while halving the size and cost, they went on to review the product design and team structure.

While the development team worked to increase product competitiveness and reduce cost, the production team and sales team continued to expand their operations. They repeatedly visited distributors and carried the prototype around the world. Once distributors could see the actual difference in brightness and resolution, they knew they could sell Epson's products.

Establishing a market: In further pursuit of visual innovation

Having achieved small size and high resolution, the ELP-3000, the world's first data projector was released in 1994. At the time, Windows 95 was in wide use, creating more opportunities for people to make business presentations. This became one of the drivers of the explosive sales of the ELP-3000, which was designed to project data from a personal computer.

In 1995, Epson reached top position in the domestic projector market. The steady work and the contracts that the team secured on their own feet bore fruit. The company continued to introduce new products and establish a culture of using projectors for large-screen presentations in the office.

Meanwhile, in 2002, Epson entered the home projector market in full-scale with the ELP-TW100, adding color to people's lives. Also making progress in the field of education, the company is now helping to build an environment where every student can receive equal education.

Regarding technology, microdisplay technology has been applied to products such as smart glasses, while laser light source technology has been applied to projectors. In addition to bright and vivid image expression, product longevity and ease of installation has been realized. Through these achievements, the use of projection mapping for digital art and digital signage in commercial facilities has expanded, and through its images, projectors have now become a source of excitement and surprise for many people.

Epson's innovations in visual communications continue to support learning, working, and living by connecting core technology-driven products with people, products, information, and services, ultimately improving the quality of life and advancing the frontiers of industry.

Yasunori Ogawa

The Epson Journey

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