Long-term Vision ―Value Generation 2020―
In fiscal 2011, the OMRON Group established Value Generation 2020 (VG2020), a plan that outlined a 10-year vision for the Group leading up to 2020.
Then, to flexibly respond to the operating environment that was changing faster than we had anticipated when mapping out VG2020 and better prepare ourselves for the upcoming decade, in fiscal 2017 we came up with VG2.0, which defines our medium-term management plan beyond the framework of VG2020.
What is Value Generation
We deliberately named our long-term vision "Value Generation" because of our strong drive to sustain growth by generating value for our customers and all other stakeholders.
VG2020 - The Vision
Sense, Think and Control. For a Brighter Future for People and the Earth.
Our goal was to address the challenges facing people and the Earth today, in order to build an optimal future. We have continued to strive for “a value-generator for people and the Earth that was qualitatively and quantitatively superior” to help achieve a sustainable Earth and society through our our technology of “Sensing & Control + Think.”
VG2020 - The Scenario
For VG2020, we divided the decade between 2011 and 2020 into two stages and pursued the goals thus divided and attributed to each stage. Based on the aforementioned two global perspectives, the two stages were named the "Globe Stage" and "Earth Stage" in chronological order.
During the Globe Stage, the three-year period from fiscal 2011 to 2013, we aimed to create an earnings structure for global business and achieve growth in the global market.
During the Earth Stage from fiscal 2014, on the other hand, we dedicated ourselves to the development of new businesses in an attempt to bring about "creation of new value" for the Earth while maximizing output from the "Globe Stage."
Under VG2.0, which started in fiscal 2017, we have taken a novel approach to realizing a new way of value creation by looking ahead to 2030, in keeping with changes in society brought about by technological breakthroughs, as typified by AI, IoT, and robotics. In pursuit of the Group’s policy, "Achieve self-driven growth by creating innovation originated by technological evolution," we were specifing focus domains, evolving our business models, and reinforcing core technologies.
Given the spread of COVID-19, OMRON puts the highest priority on crisis response for ensuring business continuity and profitability for the 2 years between fiscal 2020 and fiscal 2021, assuming that the “with COVID-19” situation will remain during the period. Aiming for sustainable growth in a new normal era, we specified the 2 years as the period of transformation, which will lead to our next long-term vision, to accelerate business structure shift and strengthen profitability by maximizing the ability to respond to change.