Announcing OMRON to Change the Company Name of Electronic & Mechanical Components Business

• April 1, 2022

OMRON Corporation (HQ: Shimogyo-Ku, Kyoto. President and CEO: Yoshihito Yamada) announced today that it will launch its long-term vision "Shaping the Future 2030 (SF2030) - Continue to create social needs with automation that empowers people" in April 2022. Based on this vision, to realize transformation into a business that continues to create social value, OMRON will change the company name of electronic and mechanical components business from "Electronic & Mechanical Components Business Company" to "Device & Module Solutions Company" as of April 1, 2022. Toward achievement of the long-term vision SF2030, OMRON's electronic components business will work to create social value that contributes to the spread of new energy*¹ and high-speed communication. To achieve this target, it will further strengthen its ability to create solutions based on devices and modules and work with customers to solve social issues.

【Company Introduction Video】

Since the founding of OMRON in 1933, the electronic and mechanical components business has contributed to the development of people's lives and society by providing products such as relays, switches, connectors, and sensors on a global basis, which are core components for connecting and disconnecting electricity, and by providing solutions. In the previous medium-term management plan, "VG2.0 (2017-2020)", it worked on structural reforms and quality enhancement to build the foundation for a self-sustaining growth engine. Amidst the rapid advances in technological innovation leading to more advanced smart and electrified products and the need for environmental responses, it has provided value through module development by capturing customer needs.

In SF2030, based on the growth engine built in VG2.0, it will transform its business into a business that creates the functions needed to solve social issues such as "achieving carbon neutrality" and "realizing a digital society” through devices, modules, and solutions. With this intention in mind, it has decided to change the name of business company. In the 1st stage of the medium-term management plan, it will focus on creating devices that support the electrification and higher frequency of products. Furthermore, it will evolve its ability to create new value by promoting green business through environmentally friendly manufacturing and product offerings, and by accelerating the speed of its digital solution proposals.

The statement released by Shizuto Yukumoto, Managing Executive Officer, Company President of Device & Module Solutions Company, about this company name change is as follows: “Social issues that need to be solved such as global warming, aging society, and social inequality are becoming more complex. Electronic components, which are key devices essential for a carbon-neutral and digital society, are playing an even greater role than ever before. We will transform our business into a business that provides optimal solutions by shaping the functions necessary to create social value with the technology we have cultivated so far, thereby working with our customers to solve social issues”.

OMRON will continue to create new social value by evolving the technology that connects and disconnects electricity safely and surely, by improving the functions, quality, and fine processing technology of products such as relays and switches, and by providing solutions based on devices and modules.

Focus Businesses

• Products for DC-powered equipment
• High-frequency equipment

Key Initiatives

• Create new products that make it possible to safely control direct current
• Create new products that enable stable connectivity for microwave signals
• Co-creation with Partners：Early participation in new designs for leading companies and alliances with think-tanks and technology ventures

Targets in the 1^st Stage of the Medium-term Management Plan

Overall	FY2021 Forecasts	FY2024 Targets	FY2021→FY2024 Sales Growth（CAGR）
Net sales	103.0 billion yen	110.0 billion yen	+2%
Operating income	8.0 billion yen	11.0 billion yen	+11%
OP margin	7.8%	10.0%	+2.2%

Sales volume for products contributing to adoption of renewable energy and high speed communication (3-year total)

Products for DC-powered equipment	60million pieces
Products for DC-powered equipment	170million pieces

*1 New energy: Refers to innovative energy sources such as renewable energy, hydrogen and fuel cell

About OMRON Corporation
OMRON Corporation is a global leader in the field of automation based on its core technology of "Sensing & Control + Think." OMRON's business fields cover a broad spectrum, ranging from industrial automation and electronic components to social systems, and healthcare. Established in 1933, OMRON has about 30,000 employees worldwide, working to provide products and services in around 120 countries and regions. For more information, visit OMRON's website: https://www.omron.com/global/en/