Sanyo Epson Imaging Devices Corporation announced today that it would change its name to Epson Imaging Devices Corporation in accordance with its becoming a wholly owned subsidiary of Seiko Epson Corporation ("Epson") on December 28, 2006. Changes to the company's management structure are also to be resolved at a special shareholders' meeting and a board of directors' meeting, to be held on the same day.
The new management structure accompanying the name change will consolidate the company's headquarters operations in Matsumoto and introduce a system of prompt decision-making and organizational management to complement the structural reorganization that was implemented on December 21. The company is thus fully engaged in the pursuit of an operational strategy - based on Epson's "Creativity and Challenge 1000" mid-range business plan announced on March 16, 2006, that aims to improve earnings and maximize corporate value.
As the company becomes a wholly owned Epson subsidiary, it will further deepen collaborative ties with the Epson Group and expedite the ongoing structural reorganization of its business operations while enhancing its ability to offer high quality, broad support, and fast response to the customer in aiming to become a leading supplier of small- and medium-sized liquid crystal displays.
Corporate Profile of Epson Imaging Devices Corporation
1. Company Name: Epson Imaging Devices Corporation
2. Head Office: 6925 Toyoshina Tazawa, Azumino-shi, Nagano
(current Matsumoto Head Office)
* The current Tokyo Head Office will be renamed the Tokyo Sales Office.
3. Board of Directors:
| President: |
Shuji Aruga |
| Senior Managing Director: |
Yuzo Ichinose |
| Managing Director: |
Motoharu Komatsu |
| Director: |
Hidehiko Seki |
| Director: |
Masaru Shingu |
| Auditor (full-time): |
Kimio Takemori |
| Auditor (part-time): |
Kanji Kusabuka |
| Auditor (part-time): |
Masahiro Koyama (newly appointed) |
* Executive Vice-President Takuya Kobayashi is due to retire and become a corporate advisor of Epson Imaging Devices Corporation following the December 28 special shareholders' meeting.
* Director Kazuhiro Yoshida and Auditor (part-time) Yasuo Nakayama are due to retire following the December 28 special shareholders' meeting.
4. Paid-in Capital: 18 billion yen (100% owned by Seiko Epson Corp.)
5. Website: http://www.epson-imaging.com/e (from approximately 11:00 a.m., December 28, JST)
Contact: Corporate Communications Group, Corporate Strategy Department,
Sanyo Epson Imaging Devices Corporation
E-mail: www@epson-imaging.com
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