07 November 2019 | News
Medical business to drive future growth of Olympus Corporation as a global medtech leader
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Olympus Corporation has announced its Corporate Strategy in central Tokyo. The announcement follows the company's earlier announcement in January this year, when significant changes in governance, the headquarters move of the Therapeutic Solutions business to the US, as well as a cost containment program were announced as a starting point of the company's extensive transformation efforts.
To achieve an operating profit margin of 20% or above at the fiscal year 2023 March, Olympus introduced four core elements:
Olympus Corporation President and CEO Yasuo Takeuchi said: "We are committed to build on our 100-year legacy of world-leading innovation, quality and dedication to making people's lives healthier, safer and more fulfilling. Our new strategy is the most significant change we have undertaken in decades, and it is designed to strengthen our position as a world leader in the medtech industry. It will enable us to improve shareholder value and the lives of patients, while benefiting healthcare professionals. Our refreshed business structure also provides a more dynamic, agile approach to quickly adapt to changing market conditions. We are responding not only to competitive market forces, but also focusing on our sustainable, future growth."
To support these strategic growth initiatives, a thorough transformational program will drive the change from within and assure accomplishment. But the transformation not only comprises initiatives for improved performance, it also reinforces the development of organizational capabilities and corporate culture.