TOKYO, 14th May 2019 – OSAKI ELECTRIC, a leading Japanese smart meter company, has established a new "Mid-term Management Plan 2023," covering a five-year period through the fiscal year ending March 31, 2024.
Through the implementation of the Mid-term Management Plan 2023, the OSAKI Group will elevate global presence in the smart metering solutions market and aims to attain a minimum target of 8% Return of Equity ratio (ROE) in the fiscal year ending March 31, 2024.
1. Mid-term Targets
2. Mid-term Management Policies
While demand for smart meters remains strong worldwide, the demand in the Japanese market has reached its peak and expected to decrease in the next five years. Under these business conditions, OSAKI will carry out the following strategies to complement the sales decrease of smart meters in Japan and to sustain profit growth.
(1) Expanding Global Business
(2) Expanding value-added smart meter businesses
(3) Developing new products and services
(4) Building resilient operations structure
3. Strategies based on Management Policies
(1) Expanding Global Business
Under OSAKI`s supervision, EDMI, a subsidiary headquartered in Singapore, will execute the following measures in the focus regions including Australasia, UK, and the Middle East.
- Elevate global presence by leveraging existing contracts of smart meters and other hardware business for revenue
- Increase profits by reinforcing solutions and the value proposition such as Solution Ecosystem including HEMS, and Software as a Cloud Service.
- Expand subscription services
- Reinforce production structure and streamline development platform
(2) Developing value-added smart meters
- Expand smart metering solutions including energy management systems and Automatic Meter Reading services
- Develop technologies responsive to new power supply platform expected to launch in the future
(3) Developing new products and services
- Develop new products and services responsive to the coming of the digital utility era
- Collaborate with various partners including start-ups, universities, research centers, and other organizations from different industries
(4) Building resilient operations structure
- Strengthen group-wide operations in manufacturing and development
- Build strong teams by promoting greater diversity in personnel and training
- Reinforce cost control
- Promote corporate brand
About OSAKI ELECTRIC
OSAKI ELECTRIC CO. LTD. is one of the leading smart meter companies in the world. OSAKI ELECTRIC is focused on designing, developing and manufacturing innovative and technologically advanced energy meters and metering systems for the global utility industry. OSAKI's business portfolio includes a comprehensive range of premium quality metering products, energy management systems and IoT/AI integrated smart services. For more information, please visit https://www.osaki.co.jp/en/index.html