Tokyo, Japan – Seiko Epson Corporation today announced that a meeting of its board of directors had approved a change of representative director and the appointment of a new president.

1. Details of change

Minoru Usui—New position: Director, Chairman. Previous position: President and Representative Director

Yasunori Ogawa—New position: President and Representative Director. Previous position: Director, Managing Executive Officer

2. Brief career history of new president

Name Yasunori Ogawa

Date of birth April 11, 1962

Place of birth Aichi Prefecture, Japan

Education Master's Degree from the School of Engineering, Tohoku University Graduate School

Brief career history April 1988 Joined Seiko Epson Corporation
April 2017 Appointed Chief Operating Officer, Visual Products Operations Division

June 2017 Appointed Executive Officer

June 2018 Appointed Director, Executive Officer

October 2018 Appointed General Administrative Manager, Technology Development Division (current position)

June 2019 Appointed Director, Managing Executive Officer (current position)

Appointed Chief Operating Officer, Wearable Products & Industrial Solutions Operations Segment (current position)
Number of Epson shares held 13,000 (as of December 31, 2019)

3. Reasons for change

In March 2019, Epson established its Phase 2 Mid-Range Business Plan aimed at achieving its Epson 25 Corporate Vision. By focusing on priority areas, we aim to respond to changes in the business environment and societal needs, and transition to a business capable of generating high profits.

In the fiscal year ending March 2019, we implemented reforms aimed at strengthening our business structure. In a tough business situation, we have promoted collaboration with partners and open innovation, and have developed and launched original products and services aimed at ensuring future growth.

Going forward we expect significant and ongoing changes to our business environment. Under the leadership and new perspective of Mr. Ogawa we will respond flexibly and rapidly to changes as we seek to improve our corporate value over the medium- and long terms.

4. Date of appointment

April 1, 2020