Japanese conglomerate Seiko Epson Corporation, which is popular for its printers, is keen on forging collaboration with Indian companies in the space of semiconductor and robotics businesses, according to a top company executive.
Yasunori Ogawa, President and CEO of the company, who was on a three-day visit to the country, told businessline that the country’s dynamic and expanding market presents appealing opportunities for them.
“India is among the few markets that are actually growing rapidly at the moment, offering us the opportunity to test out possibilities for partners and manufacturing opportunities,” Ogawa noted.
With respect to semiconductors, he acknowledged that although this segment is a smaller part of their business, they recognise the burgeoning demand for semiconductors. As part of the semiconductor business, it offers two types of electronic components: semiconductors and crystal devices (like oscillators).
“We understand the growing need and demand for semiconductors, especially in India; however, we also realise that profitability is very tough. We definitely want to expand our business, but there is a lot of competition, and we have to watch the profitability,” he explained.
Furthermore, Epson sees substantial prospects in its robotics sector, especially against the backdrop of a rapidly growing manufacturing industry. “We believe that we could work with the Indian manufacturers to contribute to the production, as there are numerous of them with talented engineers with whom we can partner,” Ogawa said.
Epson’s robots are already integrated across various sectors, such as finance and automotive, with about 1,000 operational robots in the country.
The company, which globally does about $10 billion worth of business annually, has a relatively smaller contribution from its operations in the country. Last year, it made annual revenues of ₹2,196.3 crore from its business in India.
The proportion of revenue for India is quite low; however, for Epson’s business worldwide, it’s the biggest growth market. “Moreover, with the population growing, we expect to grow rapidly, and we have high expectations for this market across all our verticals—printing, projectors, robotics, and semiconductors—which showcase growth potential,” he added.
Presently, the printer segment makes up roughly 80 per cent of the total revenue; projectors contribute 13–14 per cent, and the remaining is generated by robots and other businesses in India.
Speaking about the innovations in the printer industry, the CEO said they are currently developing a 3D printer. “In fact, we are actually working with customers on the final checks and want to get it to market by next year.”
While the company has predicted cuts across some of its verticals globally, it intends to retain a robust growth momentum in India, especially from commercial industrial printing, especially textiles, and robotics. The Hindu BusinessLine