Minoru Usui

Profile
Tenure
Jun 2008 – Apr 2020
Years in office
11.8 years
Name in Japanese
碓井稔
Title at appointment
Representative Director, President
Performance in office
Seiko Epson
Performance in office
FY2008FY2020Change
Revenue¥1.3trillion¥1.0trillion−23%
Net margin1.4%0.7%−0.7pt
KusamaHanaokaUsuiOgawa
Revenue¥1.5 trillionRevenue¥1.1 trillionRevenue¥1.4 trillionNet margin3.8%Net margin10.4%Net margin4%2003/32005/32010/32015/32020/32025/3
Revenue¥1.5 trillionRevenue¥1.1 trillionRevenue¥1.4 trillionNet margin3.8%Net margin10.4%Net margin4%2003/32005/32010/32015/32020/32025/3
API: /api/6724/financials_history.csv · /api/6724/financials/pl.json
Tenure

Tenure

Background

He joined Seiko Epson in November 1979. He became a Director 22 years later, in June 2002, then Managing Director in October 2007 and President eight months after that, in June 2008. A career employee, he had no ownership stake behind him. During his tenure, in the fiscal year ended March 2010, the top shareholders were Aoyama Kigyo with 10.36% and Sanko Kigyo with 7.15%, followed by individual shareholders such as Yasuo Hattori at around 3%.

Education: University of Tokyo, Faculty of Engineering, Naval Architecture

Selection

In June 2008 he succeeded Seiji Hanaoka as President. In the fiscal year ended March 2008, the year before he took office, net sales were ¥1,347.8 billion, operating income ¥57.6 billion and net income ¥19.0 billion. Earnings were unstable, however, with net losses for two straight years, ¥17.9 billion in the FY ended March 2006 and ¥7.0 billion in the FY ended March 2007. Employees had also fallen from 90,701 in the FY ended March 2006 to 88,925 in the FY ended March 2008.

Initiatives

In the fiscal year ended March 2009, the year after he took office, the company posted a net loss of ¥111.3 billion. In April 2010 it transferred part of the business assets of Epson Imaging Devices relating to small and medium-sized LCDs. This was a decision to scale back the electronic devices business and allocate resources to printing. Net sales shrank from ¥1,347.8 billion in the FY ended March 2008 to ¥851.2 billion in the FY ended March 2013, before operating income recovered to ¥131.4 billion and net income to ¥112.5 billion in the FY ended March 2015.

Career

Career

Seiko Epson

Date Position
Nov 1979 Joined
Jun 2002 Director
Oct 2007 Managing Director
Jun 2008 Representative Director, President
Apr 2020 Chairman
Apr 2020 Stepped down as President

IHI

Date Position
Jun 2021 Outside Director

Sumitomo Pharma

Date Position
Jun 2021 Outside Director
References 1

References (Japanese primary sources)

  • セイコーエプソン 有価証券報告書【役員の状況】