Epson eyes bigger presence in nation

Japanese electronics maker Seiko Epson Corp will intensify efforts to expand its presence in China through technological innovation and by strengthening cooperation with local partners, in a bid to offer more customized products to the Chinese market.

Currently, the global economy is suffering from high inflation and downside risks but it is bound to be on a track of recovery and growth in the long run, said Yasunori Ogawa, president and CEO of Epson, adding he believed that the Chinese market still has huge growth potential.

"We will continue to step up investments in fields like office printing, commercial and industrial printing, printheads and industrial robotics," Ogawa said. He noted that the company's printhead business has witnessed the fastest growth in China with immense development space.

"China accounts for the largest market share in the industrial robots sector and we hope to further bolster sales in this field. In the traditional printing field, we will also continue to expand investments," he noted.

According to Ogawa, the Chinese market is taking the lead in digitalization with a high production level, so Epson wants to strengthen its cooperation with local partners to roll out more tailor-made products and solutions that cater to the needs of Chinese consumers.

Ogawa said he is bullish on the prospects of Epson's business recovery in China, which is not only a consumer market but also a production base. "The most important thing for us is how to manufacture products that meet local demands and create value for customers," he said, adding China boasts a large number of excellent engineers and talent.

Founded in 1942, Epson is focusing on leveraging its efficient, compact and precision technology and speeding up localization efforts in China to boost its technological innovation.

The Chinese government has attached great importance to green and sustainable development in recent years, which coincides with Epson's emphasis on its "efficient, compact and precision" philosophy.

As stated in Epson's Environmental Vision 2050, the company seeks to become carbon-negative and eliminate the use of exhaustible underground resources such as oil and metals by 2050.

"Looking ahead, we will provide customers with more printers and projectors that better meet their needs. We will also deepen cooperation with local partners in the printhead business and produce high-quality printer products by using Epson's inkjet print technology," he added.

China has recently issued a 24-measure guideline to attract more global capital and further optimize the country's business environment for multinational corporations.

Zhang Jianping, director-general of the Beijing-based China Center for Regional Economic Cooperation, said the latest supportive policies aimed at attracting more foreign investment, as well as the shortened negative list for market entry and the implementation of the Foreign Investment Law, have created more favorable conditions for foreign businesses to invest in China.