- Last update:
- August 24, 2020
The Casio corporate creed is “Creativity and Contribution.” Since the beginning, Casio has been living up to this creed by providing products and services with innovative functions never seen before. Casio products and services have made people’s lives around the world more convenient and fulfilling, contributing to social progress.
At Casio, we will stay true to our corporate creed as we continue creating new value by providing the important things people keep close in life, the things that naturally complement their lifestyles.
Medium-Term Management Plan
Casio formulated the Medium-Term Management Plan in order to achieve the vision. In the Plan, we have set out a management policy that will take us through fiscal 2022, outlining a business management approach that adopts a medium to-long-term perspective, and will reinforce the company’s management base to make our vision a reality.
Expand growth in timepiece business
We will keep growing the timepiece business based on G-SHOCK, the mainstay product. G-SHOCK is in widespread use with a cumulative total of 100 million units sold. It is watch brand unlike any other, that has fans around the world who share a deep appreciation not only of its functions but also of the worldview of the brand. G-SHOCK has formed a unique market in which there is no competition. Levering the technical capabilities and brand power of G-SHOCK, we will focus our energies on our popular metal watch lineup and deliver these models more broadly to global markets. In the emerging smartwatch market, we will leverage our strengths in timepiece and mobile information device technologies to launch products bearing the G-SHOCK brand and aim to become the de facto standard.
Expand growth in educational scientific calculator business
In the educational scientific calculator business, which has consolidated its position in educational institutions as an indispensable tool for learning mathematics, we will grow by leveraging our accumulated technical capabilities and our powerful GAKUHAN business model, which identifies local needs in partnership with educators and incorporates local feedback. In collaboration with educators in each country around the world, we will not only provide specifications that match the mathematics curriculum and practices of each country, but also develop the electronic education business in the test and textbook market, which is in a period of transition from paper to electronic formats, thereby responding to changing times and changing user needs.
Create new businesses
We will focus on the establishment of new businesses that will form the new growth drivers of the future as a particularly important challenge. Casio defines these new businesses as businesses that will provide new experiences to new users. We will take an inventory of all the technologies we have developed over the years and integrate this technology into the markets where Casio can make the biggest contribution, thus creating new user needs. We will continue to provide completely new and original value through co-creation with appropriate partner companies with the requisite technology and knowledge in areas that complement Casio’s strengths.
Reform structure to support growth strategy
We have positioned the electronic dictionary, English conversation learning tools, electronic musical instruments, projector, and systems equipment businesses as “businesses needing better profitability.” In these business, we will promote structural reforms, including streamlining of manufacturing and optimization of distribution to improve profitability. In addition, leveraging our original technologies, brands, and business models, we will focus on emerging markets and expand in untapped countries to maximize potential. Next, we will transform these into growth businesses.
Building the Management Base
We will build the management base needed in order to steadily implement the Medium-Term Management Plan. We will continue to reinforce it under the banner of “One CASIO,” aiming for the same goals from the same perspective, group-wide. First, we will assign people with responsibility for each function of development, sales, and personnel, separately from the people with responsibility for each business, in order to strengthen the executive function. Management will supervise the execution of each of these people to ensure steady implementation of the plan while responding to changes in the business environment. Furthermore, to strengthen governance, Casio has now adopted a “company with an audit and supervisory committee” structure and increased the proportion of outside directors on the Board of Directors.
We will also invigorate our organizations and human resources. In addition to streamlining and rejuvenating our organizations, we will develop environments and systems to ensure that employees can fulfill their potential as they engage in their work.
Quantitative Financial Targets
The results for fiscal 2019 and the forecasts for fiscal 2020 and fiscal 2022, which we plan to achieve by implementing the Medium-Term Management Plan, are as follows.
Due to the ongoing COVID-19 pandemic, we plan to extend the ending year of our FY2022 targets.
By executing the plan, Casio will strive to enhance corporate value over the medium-to-long term, seeking to deliver sustainable growth in partnership with our stakeholders.
Note: Earnings estimates and forward-looking statements are forecasts determined based on currently available information and include potential risks and uncertainties. Consequently, various factors could cause actual earnings to differ.