Printer giant Epson: Cost reduction of 26 billion yen shifts focus to precision manufacturing and emerging fields such as robotics

【Caixin】“Over the next three years, we plan to cut costs by 26 billion yen (about RMB 1.1222 billion),” on April 3, at a press conference in Beijing, Epson’s president and representative director, Chief Executive Officer (CEO) Yoshida Junkichi, broke down the company’s cost-cutting figures: reducing the number of factories from 17 to 14, reorganizing departments to save 10 billion yen (about RMB 432 million), standardizing IT infrastructure to save 2 billion yen (about RMB 86 million), moving back-office functions from Europe to Latvia, from the United States to Mexico, and more—thereby cutting costs by 3 billion yen (about RMB 129 million).