2020

EIZO INTEGRATED REPORT
Visualizing a better tomorrow for allCorporate Philosophy

Through the pursuit of imaging
solutions with advanced technologies,
we enrich people in their professional
and personal lives.

CONTENTS
Corporate Philosophy / EIZO Group Principles of Conduct

01

Our Value

Contents / Editorial Policy02

Creating the World’s Best31

Products and Business Operations that Consistently
Reduce Environmental Impacts

39

Our Story

EIZO Group Principles of Conduct – Seven Promises
1. We will supply high-quality products and services loved by customers
through creating and offering new value by unique technologies and ideas.
2. We will promote our manufacturing and business activities in considerationof reducing their environmental burdens.
3. We will act as an international corporation with a global outlook andmindset.

History of EIZO Value Creation

03

Creating an Environment for Employees to
Demonstrate Their Abilities and Thrive

45

Highlights by Business Market

07

Strong Bonds of Trust with Our Stakeholders

51

CEO Commitment

09

Value Creation Process

13

GovernanceCorporate Governance

Our Strategy

57

6th Mid-Term Business Plan

15

Corporate Overview

Value Creation by Market

17

Corporate Information

64

Foundation for Sustainable Growth27

Financial Information

66

Performance Data69

4. We will conduct open and fair trade.
5. We will seek to build and maintain strong bonds of trust with our
stakeholders (business partners, employees, shareholders, and the local
community).
6. We will strictly respect and comply with both the letter and the spirit of thelaw as a good corporate citizen.
7. W
 e will respect basic human rights and value a broadminded corporate
culture.
EIZO Group Principles of Conduct – Seven Promises is published in its entirety on our website.
https://www.eizoglobal.com/company/information/conduct/

Editorial Policy
In the interest of providing an insightful report for our shareholders, investors
and other stakeholders on the EIZO Group’s mid- and long-term initiatives toenhance our corporate value by integrating financial information including
business performance and non-financial information including business strategy
as well as the environment, society, and governance (ESG) issues, we now
publish the Integrated Report as a replacement for the CSR Report.
Reference Guidelines
International Integrated Reporting Council “International Integrated Reporting
Framework”
Ministry of Economy, Trade and Industry (Japan) “Guidance for Integrated
Corporate Disclosure and Company-Investor Dialogues for Collaborative Value
Creation”
GRI Sustainability Reporting Standards 2016/2018
Ministry of the Environment (Japan) “Environmental Reporting Guidelines 2018”

Date of Publication
August 2020 (previous report: October 2019, next report: August 2021)
Scope of the Report• Organizations covered	EIZO Group(Exceptions to the scope of coverage are explained in the relevant sections.)• Reporting period	April 1, 2019 to March 31, 2020
	(Dates for content on activities that occurred outside the period covered by thereport have been clearly stated.)
Websitehttps://www.eizoglobal.com/
Contact Information
Investor Relations
Phone: +81-76-275-4121

Disclaimer on Forward-Looking Statements
Any statement in this report, other than those of historical fact, are forward-looking statements about the future performance of EIZO Corporation and its groupcompanies, which are based on management’s assumptions and beliefs in light of information currently available. These statements include apparent or potential risks
and uncertainties including forex impact and risks related to supply and demand. Actual results may differ materially from these forecasts.

01

EIZO Integrated Report 2020

EIZO Integrated Report 2020

02

2002

History of EIZO Value Creation

Healthcare (HC)

Since our foundation in 1968, more than 50 years ago, we have been
exclusively focused on visual imaging technologies.

Creative Work (CW)

Vertical & Specific (V&S)**For Mission CriticalEnvironments.

As a Visual Technology Company, EIZO will continue to provide imaging
solutions that enrich future society.

Air Traffic Control (ATC)2008

Security & Surveillance (S&S)

2012

CRT Monitors

1968

1985

LCD Monitors

1997

Maritime (MRT)

Compliant with MIL standards*
Our Value

2019

Our Str ateg y

2009Black and White TVs

Our Stor y

2003

As exemplified by our Business & Plus (B&P) product line, the backbone of
our products, we have been delivering solid value that contributes to social
development by creating solutions that capture the changing times.

*U.S. defense standards and assessment guidelines used to achieve
standardization objectives by the Department of Defense.

Business & Plus (B&P)
Gover nance

Tabletop Gaming
Monitors

2004

LCD TVs

Amusement (AMU)©SANYO BUSSAN CO., LTD.

EIZO’s Origins• In 1968, Nanao Electric Co., Ltd. (currently EIZO
MS Corporation) in Nanao City, Japan began as
an original equipment manufacturer (OEM) of
black and white televisions.

Creating the Brand

From CRT to LCD

EIZO decided to withdraw from OEM production
and began selling CRT monitors under the EIZO
brand name in Europe. This was followed bysales of its NANAO brand CRT monitors in North
America and Japan.

• In 1973, Nanao Corporation (formerly Hakui
Electric Corporation) started, a predecessor of
EIZO Corporation.

• EIZO was listed on the Second
Section of the Tokyo Stock
Exchange in 2002 and on the First
Section in 2003.
• EIZO entered the Healthcare andCreative Work markets.

• In 1996, EIZO discontinued using
the NANAO brand, adopted“EIZO” as its global brand nameand introduced a new EIZO logo.
Amid the transition from black and white tocolor TVs, EIZO began OEM production of otherproducts related to visual imaging, includingtabletop gaming monitors and VTRs.

03

EIZO Integrated Report 2020

Business Expansion (Specific Markets / Sales Structure)• In 1997, EIZO developed andmanufactured LCD monitors,
bringing one of the first ever LCD
products to market.

• EIZO accelerated business byacquiring organizations overseas(including manufacturers), which
demonstrated a high affinity withspecific markets.
• EIZO strengthened worldwide
production and sales structuresby establishing a manufacturing
facility in China and commencing
direct sales in Europe.
See pages 5 and 6 for details.

Toward Further Growth• In 2013, the company namewas changed from EIZO Nanao
Corporation to EIZO Corporation.
The new name embodies ourcontinued commitment to “EIZO”(Japanese for “Image”)—Visual
Imaging Technologies.
• Looking beyond providing only
monitors, EIZO is strengthening its
capabilities to also provide complete
end-to-end visual imaging solutions.

EIZO Integrated Report 202004

Cor por ate
Over view

1978Home Entertainment

History of EIZO’s Value Creation

EIZO’s Expansion—A Stronger Group

Our Stor y

EIZO have been steadily expanding its business domains and establishing a sales network that responds to user demands and needsby aggressively embracing M&A and other expansion strategies. All EIZO Group companies are collaborating to develop businessglobally.

EIZO Technologies GmbHEIZO Europe GmbH(with 5 branch offices)

2000

EIZO Limited moved to Ascot in 20192018

EIZO Limited

EIZO Rugged Solutions Inc.

EIZO Display Technologies(Suzhou) Co., Ltd.
EIZO AGEIZO Saudi Arabia
Regional Sales Office

and Sales & Marketing)● EIZO Group (Sales & Marketing)● EIZO Authorized Distributors■ Countries Where EIZO Products

Are Sold

EIZO GmbH(Germany)Acquired the medical monitor
business of Siemens AG.

2009

2015

EIZO Technologies GmbH (Germany)
Acquired the air traffic control andindustrial monitor businesses andmonitor control board business of
eg-electronic GmbH.

EIZO Corporation acquired the operating
room and endoscope monitor business ofPanasonic Healthcare Co., Ltd. of Japan.

Healthcare Market

EIZO Medical Solutions Inc. (Japan)
Acquired the medical system integration business from
Imation Corporation through the wholly owned company
EIZO Medical Solutions Inc. (now EIZO Corporation).

2007

Gover nance● EIZO Group (R&D, Manufacturing,

2016
2007

Carina System Co., Ltd. (Japan)
Acquired the developer and business of systemsolutions for operating rooms, including technologies
for image capture, recording, and distribution.

Our Value(including 6 othercompanies in Japan)

Expand and Reinforce Business Domains

EIZO Corporation

EIZO Inc.

Members of EIZO AG (2019)2010

EIZO Nordic AB

EIZO GmbH(with 1 branch office)

Our Str ateg yMembers of EIZO Rugged Solutions
Inc. (2019)

V&S Market
EIZO Rugged Solutions Inc. (U.S.A.)
Acquired the company developing andmanufacturing graphics boards for air
traffic control, military and defense, andcommand and control markets.

2010

EIZO Display Technologies (Suzhou) Co., Ltd. (China)
Established to manufacture and sell products for the
Chinese market.

Manufacturing andsales targeting the
Chinese domestic
market1990
Cor por ate
Over view

1985
Established Nanao USA
Corporation (currently EIZO Inc.)

Strengthening Sales

Launched CRT monitors for computers in1985 under our brands of EIZO in Europe
and NANAO in North America.
Established a comprehensive network of
exclusive sales companies and distributors
throughout the 1980s and 1990s.

1985

Rein Elektronik GmbH(Distributor, Germany)
Signed an exclusive
Distribution Agreement.
Hayward Computer GmbH(Distributor, Austria)
Signed an exclusive Distribution
Agreement.

EXCOM AG (Distributor,
Switzerland)
Signed an exclusive Distribution
Agreement.

(Business succession by Raab
Karcher Elektronik Group)

Rein Netherlands B.V.
(Distributor, the Netherlands)
Signed an exclusive Distribution
Agreement.

Raab Karcher Elektronik Group(Distributor)(Business Succession by
the Avnet Group)

Memec Group Limited (Distributor, United
Kingdom)
Raab Karcher Elecktronik Group

Established EIZO Sweden AB(currently EIZO Nordic AB)

Avnet Group (Distributor)
Germany, the Netherlands,
Belgium, Italy, Austria, Czech
Republic, United Kingdom

Acquired Avnet Group’s European
EIZO operations establishing a direct
sales structure.

EIZO Europe GmbHEIZO Limited

2005
1992

Flexible sales
policy based ona direct sales
structure2012

Reinforced senseof security andsupport forcustomers

EIZO NANAO AG (currently EIZO AG)
Acquired EXCOM AG’s EIZO operations
to strengthen our sales activities in the
Swiss market.

indicates a distributor.

05

EIZO Integrated Report 2020

EIZO Integrated Report 202006

Highlights by Business Market

Net Sales

Business Overview(JPY million)

Business & Plus (B&P)
For Business
Financial Institutions, Public Authorities, Educational
Facilities, Office Use, High-end Home Use

JPY 16,409 million(down 7.7% year-on-year)■ Japan ■ Overseas

17,787

10,00012,664

11,147

5,122

5,261

FY2018FY20190

16,409Composition of
Sales

21.5%

■ Japan ■ Overseas(JPY million)

30,000

Healthcare (HC)For Medical Environments
Medical Imaging, Diagnostic Applications, Operating
Rooms

JPY 29,390 million

20,00030,40829,39017,83917,251

Composition of
Sales

38.4%

(down 3.4% year-on-year)

10,00012,138FY2018FY2019(JPY million)

30,000Creative Work (CW)
Publication, Design, Printing, Photography, Video
Production

JPY 5,345 million(down 10.5% year-on-year)

20,00010,0000(JPY million)

For Mission Critical Environments
Air Traffic Control (ATC), Maritime, Security &Surveillance, Other Industrial Markets

JPY 10,403 million(up 40.2% year-on-year)

Composition of
Sales

Overseas, sales in Europe were challenging resulting in an overall year-on-year
decline. In Japan, sales remained steady due to the launch of monitors compatible
with HDR displays for video production and new entry-level monitors.

Composition of
Sales

Overseas, sales grew significantly due to large-scale programs in the North American
ATC Market. This resulted in EIZO achieving the most sales in ATC globally; topmarket share. (Source: EIZO Corporation, April 2020)
In Japan, sales of customized products that meet diverse customer needs increased.

7.0%

5,971
4,887
1,083
FY2018

5,345
4,104
1,241
FY2019■ Japan ■ Overseas

20,00010,403

10,000

7,419

0

4,206
3,212
FY201813.6%

Cor por ate
Over view

30,000

Vertical & Specific (V&S)■ Japan ■ Overseas

Gover nance

For Graphic Arts

Overseas, sales for diagnostic applications were strong in North America, theMiddle East, and Asia. In the fourth quarter, demand for remote diagnosis monitors
increased due to the spread of COVID-19 infections. In Japan, sales remained steadydue to strong demand from capital investment throughout the year. Sales ofendoscopy products fell year-on-year due, in part, to a temporary drop in demandassociated with market inventory adjustments. For operating room applications,sales of video image capture and distribution systems were strong.
Total sales for the Healthcare market fell year-on-year due to the strategic
discontinuation of unprofitable distribution business in Japan from the third quarter
in FY2018. Excluding the effect of this realignment, total sales rose year-on-year
maintaining positive growth in this market.

Our Value

12,5680Overseas, sales fell year-on-year due to the impact of a weak euro. Meanwhile, in the
fourth quarter, demand for monitors temporarily increased as people were forced
to work from home during the COVID-19 pandemic. In Japan, sales rose year-onyear due to factors such as replacement demand related to Windows 10 upgrades.

Our Str ateg y

20,000Our Stor y

30,0006,186
4,217
FY2019(JPY million)

30,000

Amusement (AMU)
Monitors Mounted into Pachinko andSlot Machines

JPY 9,607 million(up 11.9% year-on-year)

Composition ofSales

20,00010,000

8,583

9,607

FY2018FY2019

0

07

EIZO Integrated Report 2020

12.6%

The market size contracted due to a shrinking gaming population and regulatory
reform. In the last fiscal year, sales fell by more than 80% from the peak in FY2006,
making it the lowest since our public listing. While sales recovered this fiscal year
due to the introduction of machines that comply with the new regulations, theoverall sales levels have remained relatively low.
©SANYO BUSSAN CO., LTD.

EIZO Integrated Report 2020

08

CEO
Commitment

Publication of the Integrated Report—This will be EIZO’s first integrated report.
Our Stor y

EIZO has a unique business model and I have heard people comment on numerous times about the difficulty ofunderstanding how we actually create value. It is certainly true that our originality and strength are not easily coveredin financial reports, but this is actually a source of confidence and pride for us.
Having said that, we are well aware we are living in a time of volatility, uncertainty, complexity, and ambiguity(VUCA). Our ability to consistently create value over the longer term is not only imperative to the company, it is alsoof great importance to all our stakeholders. Therefore, I think there is a need to explain from various perspectives thecompetitive edge that enables us to provide products and services with high added value as well as solutions thatexceed customer expectations. Through this integrated report, we would like to deepen stakeholder understanding ofwhat we do, including shareholders, business partners, and users worldwide who selected and rely on EIZO products
and services. We hope and trust this integrated report will give you greater trust in and expectations of us.

Our Str ateg y

EIZO Value Creation & Growth Strategy—What are the characteristics of EIZO’s business model?
Our Value

While we develop products and services in many fields, they are all related to “Visual Imaging,” and our businessmodel is one in which all these businesses continue to expand by taking synergy from each other. Our LCD
monitors for the B&P market serve as the backbone or foundation for development, procurement, and production,
which we enhance with additional value and develop into products for specific markets. We are able to efficiently
generate value by sharing resources such as personnel, equipment, procurement, and technologies, thereby greatly
strengthening our business model.
Our technologies span the entire spectrum, from “Capturing” to “Recording,” “Distributing,” and “Displaying” visual
images. By leveraging this “Imaging Chain,” which links these technologies, we can deliver comprehensive solutions
encompassing the entire imaging process from input to output. This is the “Imaging Chain Innovation” that drives
EIZO’s business model. Moreover, the effective application of “Imaging Chain Innovation” is enabling our businessto evolve from mono-zukuri (creating products) to koto-zukuri (creating solutions). At this very moment, we areconfidently preparing to move beyond the provision of visual environments that meet customer needs to deploying
visual imaging solutions that address our customers’ challenges.
Another source of our strength is in the powerful bond that exists between organizations within EIZO, whichenables us to meet our customers’ needs. For example, while a healthcare institution requires highly specialized
products in its operating rooms and laboratories, it also needs products primarily used for administrative processing
at reception or at nurses stations, as well as solutions ensuring in-house security. EIZO not only addresses the varying
needs of the Healthcare market but is also engaged in developing office products and security and surveillancesolutions. Thus, we are uniquely positioned to offer comprehensive, flexible, and consolidated solutions that meet thewide-ranging visual imaging needs of medical institutions.
By leveraging the synergies among our technologies, sales, and support, we believe that customers will recognize
us as an organization they can rely on to solve all their imaging issues.

Gover nanceCor por ate
Over view—In addition to EIZO’s business model, what are our other strengths?

Creating value that
“Only EIZO Can!”
August 2020
President & CEO, EIZO Corporation

09

EIZO Integrated Report 2020

Yoshitaka Jitsumori

100% In-house Development & Production
Our greatest feature and strength is our centralized and 100% in-house development and production.
While most companies today outsource development and production, EIZO has been firmly committed tomaintaining operations in-house. We carefully consider what products would be ideal for addressing customers’
specific concerns and needs, the features and functions required by such a product as well as any necessarycomponents. If such components cannot address these requirements, we develop them ourselves in-house. Our
comprehensive style of manufacturing is made possible by the fact that we engage in the entire process fromdevelopment right through to production. In addition, we have exclusively been engaged in imaging-related
technologies over the past 50 years and have accumulated the comprehensive technology knowhow requiredfor professional development of visual imaging solutions. This has enabled us to deliver next-generation products
rapidly with outstanding quality and performance. Furthermore, we provide highly reliable products by consistently
performing rigorous quality control across the entire process, from development to production.

EIZO Integrated Report 202010

CEO Commitment

EIZO’s DNA—Environmental Consideration as the Basis of Mono-zukuri
Environmental considerations have become deeply ingrained as the basis of our mono-zukuri (creating products) eversince we began developing, producing, and selling CRT monitors in compliance with stringent European requirements,
including regulations governing electromagnetic emissions. This basis has remained unchanged, even as we shifted to
producing LCD monitors, and we have consistently sought to reduce our environmental impact by pursuing initiatives
such as lowering power consumption, enhancing recyclability and reducing plastic waste. We are also promoting
business initiatives toward our fiscal year 2030 goal of reducing CO2 emissions by 50% from fiscal year 2017 levels.

A Lively Environment where Employees Can Shine
Ensuring the safety and health of our employees is certainly important and is the very foundation of our business. In
fiscal year 2019, we focused on addressing the “human element” that sustains our business and obtained the ISO 45001
certification for occupational health and safety management in December. In January 2020, we began advancing our
initiatives on a global scale by becoming a member of the Responsible Business Alliance (RBA), a corporate alliance that
promotes CSR in the global supply chain of the electronics industry .

11

EIZO Integrated Report 2020

Cor por ate
Over view

Governance Maintaining Transparency
The fundamental characteristic of EIZO governance is “openness and transparency.” EIZO’s Board of Directors also
includes Executive Officers and Presidents of group companies, which is unique. Our Directors consist of threemembers who are not part of the Audit & Supervisory Committee and four who are, of which three are external
Directors. In addition to these seven Directors, members also include Operating Officers and Presidents of groupcompanies in Japan to ensure transparency of Board of Director proceedings.
A corporate culture of open communication is another unique feature and strength of our organization. All
organizations are structured directly under the President, ensuring a smooth reporting line and enabling open
exchanges of opinion, even within departments, regardless of seniority. This has accelerated our decision-making,judgments, and responses. I, myself make a conscious effort to maintain close communication among the teams by
walking around the company and talking to employees so they will feel closer to me. I also believe that seeing the“captain” of the EIZO ship with great energy increases everyone’s sense of security and motivation, so I make a point ofstaying healthy and physically fit.

Since January 2020, COVID-19 has spread globally, developing into a pandemic that has dramatically transformed themarket environment. Nevertheless, we stayed on course with initiatives in creating future growth engines as per our
6th Mid-Term Business Plan. As a result, we have achieved favorable results and will continue our approach, despite
this new global challenge. We have particularly achieved solid growth in our V&S business. In the Air Traffic Control(ATC) market, through our ongoing efforts in North America, APAC, and Europe, we have successfully achieved strong
growth, culminating in EIZO gaining the top market share globally. We will continue our efforts to further expand ourmarket share in other markets and regions as well.
In the Healthcare market, we continue to expand our business through close collaboration between Carina
System Co., Ltd. and other EIZO organizations. In addition to the Japanese and European markets, where we hold an
overwhelming share, we also succeeded in increasing our share of the North American healthcare market.
In the area of capital investment, EIZO GmbH (Germany) began operations at a new facility in June 2019, withthe goal of further expanding our healthcare business. At EIZO Corporation (Japan), we began operations of our nextgeneration production line leveraging IoT and AI as well as robotics to boost productivity. Looking ahead, we willcontinue investing in business expansion, including the relocation of EIZO Technologies GmbH (Germany), whichdevelops and produces air traffic control monitors, and an extension of our facility in EIZO MS Corporation (Japan) to
reinforce our high-mix, low-volume production of electronic circuit boards. These plans are all based on our underlining
strategy of becoming the number one in specific markets such as Healthcare and V&S, which we have been pursuing
since even before the 6th Mid-Term Business Plan.
Meanwhile, the COVID-19 impact is certainly creating a growing sense of uncertainty about the future, leading topostponing product launches, a further contraction in the amusement market, and potential fluctuations in foreignexchange rates. Despite this situation, we will continue to proactively and aggressively invest in growth opportunities
for the “post-COVID-19” era.
In addition, EIZO offers a diverse product lineup in multiple markets, so we will leverage this strength by mobilizing
the entire EIZO Group as “One EIZO” and promote cross-selling between markets more than ever.

Gover nance—What are your strengths and initiatives with respect to ESG?

—Fiscal Year 2020 Marks the Final Year of the 6th Mid-Term Business Plan. How Have We Done?

Our Value

Environmental, Social, and Governance (ESG) Perspective

Status of Business Operations
Our Str ateg y

EIZO’s Consolidated Sense of Unity
One of our great strengths is that this passion for quality is instilled throughout our operations globally and we are
pursuing business activities as one unified EIZO. The EIZO Group comprises 17 companies worldwide. We leverage
our comprehensive capabilities and develop businesses that take full advantage of our synergies in respect to thesecapabilities in development, production, sales, and support.
We cross national borders regularly to ensure customer voices are heard and proposals exceed expectations. Often
this is done in cooperation among several Group companies, even sometimes for a single opportunity.
The strength of “One EIZO” is created by maintaining regular and open communication among Group companies
sharing information, objectives, and desires.
Group Companies and EIZO Authorized Distributors gather once a year at EIZO Corporation (Japan) to attend the“EIZO United” conference, where we share our latest technologies, the status of sales in each country, various initiatives,
and the overall product and business direction. Not only does this deepen everyone’s understanding of our future
direction, it fosters a strong sense of unity in the group through mutual exchanges.

The RBA is an organization that promotes CSR across the global supply chain and has established a code of
conduct to ensure full compliance with CSR initiatives from a global perspective. In conducting business operations
globally, we recognize the need to address issues related to labor, safety and health, the environment, ethics, andmanagement systems from the broadest possible perspective, which includes the entire supply chain, and that is
why we joined the RBA. In the future, we will continue to maintain an uncompromising attitude toward our businessactivities globally and strive to improve where inadequacies are found to achieve further compliance with the RBA
Code of Conduct.

Our Stor yCommitted to Quality
Our commitment to quality is reflected in our common aspiration throughout EIZO to produce the world’s best. We are
extremely proud of our uncompromising commitment to product performance and quality. This has been a cornerstoneof EIZO’s DNA, visualized in our ongoing pursuit of visual imaging excellence since our founding in 1968. This was further
refined as we began developing, manufacturing, and selling monitors under our own brand in 1985. We continue tofurther refine in response to our customers’ demands in Europe, where products are subject to exceptionally stringent
quality requirements. We have been expanding our business by welcoming numerous companies and businesses to the
EIZO Group. Our core philosophy is shared by all employees, new and old, which in turn has ensured we have sustained
the highest standards of uncompromising quality throughout the range of our products and services.

—Toward the Next Mid-Term Business Plan
Since engaging in the OEM production of black and white TV sets, we have consistently transformed ourselves andexpanded our business by branching out to produce CRT monitors, LCD monitors, and shifting from office and private
use products to creative work and diverse industrial applications. The world around us, however, continues to rapidlychange and evolve, so I believe that the future of our company may not simply be an extension of the present. Whilethe next Mid-Term Business Plan will also be focused on “visual imaging,” we will meet our customers’ expectations byembarking on a new challenge that lies along a different path from our current direction, under a key concept of “Digital
Transformation” (DX). For example, we are currently developing new products and solutions that adds the “Edge AI”
concept to our advanced image processing technology. We will seek to help customers solve problems by offering newimaging solutions that use edge computing to supplement a variety of AI-based tasks. At the same time, we will develop
a more powerful, enhanced business model by achieving an overwhelming advantage through differentiation.
The key to sustaining business in these times of VUCA is not to get scared or flinch but to respond with versatility
and flexibility in the face of any obstacle or challenge that comes your way.
Since our foundation more than 50 years ago, we have successfully overcome numerous difficulties and changes
to develop our current business model. I am convinced that we will overcome difficulties and continue to grow as one
united group, “One EIZO.”EIZO Integrated Report 2020

12

Value Creation Process

We aspire to enrich future society and enhance corporate value by investing the resources we have accumulated for over 50 years
since our founding to deliver imaging-related products and solutions.

R&D and Manufacturing

Business Model

Products and Services
Providing high-quality, high-performance
imaging solutions centered around a diverse
array of monitors in over 90 countries andregions

pp. 31−38

Intellectual Capital
EIZO Owned Patents

543 (as of March 31, 2020)

Creating Value for Society

Expand existing
business domains
Create new markets

Manufacturing Capital
In-House
Production

100%

Production
Sites

7worldwide

Comprehensive
solutions thatencompass capturing,recording/distributing,and displaying images

pp. 39−44

Environment

Natural Capital

50% reduction in CO emissions2◦ Limiting input of resources andenergypp. 45−50

Human Resources

Human Capital

Growth Engine –“Imaging Chain
Innovation”

23 sites, 17 companies,
15 countries
Mid-Term Business Planp. 15

Social and Relationship
CapitalSales activities in over

90 countries and regions◦ Global sales network
Finances

Acquired the ISO 50001 certification, aninternational standard for energy management
systems

Society

pp. 45−56

Acquired the ISO 45001 certification, aninternational standard for occupational healthand safety
Maintained a sustainable supply chain: compliant
with the RBA Code of Conduct; initiatives on
responsible procurement of minerals

pp. 5−6, 51−56

Society

pp. 39−44

Cor por ate
Over view◦ Active engagement by diverse
personnel◦ Tapping local talent for top
management positions inoverseas group companies

Environment

Enriching futuresociety with visual
imaging

EIZO Group Principles ofConduct – Seven Promises
p. 1

pp. 15−16, 66−68

Financial Capital
Equity Ratio

76.6%

Operating Margin

8.4%◦ Stable financial base◦ Aggressive investment in highgrowth areas

13

EIZO Integrated Report 2020

Gover nance(FY2030 target comparison
with FY2017)◦ Financial Institutions	Superior image quality and reliability supporting
financial trading operations◦ Office and Educational Facilities
Realizing ergonomics and energy conservation◦ Home	High-definition monitors for greater satisfaction◦ Hospitals
	Visual environments for sustaining accurate diagnosis
and cutting-edge surgery◦ Creative Work	Precision color reproduction improves
operational efficiency and accuracy.
◦ Railway	Supporting platform monitoring by providing
high visibility◦ Factory
Responding to the distinct needs of each facility◦ Commercial and Leisure Facilities
Supporting the security management of operations◦ Marine Vessels
Ensuring safe navigation and onboard security

Our Value◦ In-house production of all products
in Japan, Germany, China, and theUnited States◦ Stringent quality control incollaboration with development
and quality control departments

pp. 17−30

Contribution
to achieving
the SDGs
Our Str ateg y◦ Global intellectual property
network focused on Japan,
Europe, and the United States

Our Stor yManagement Resources

Corporate Philosophy
p. 1

EIZO Integrated Report 202014

6th Mid-Term Business Plan (Fiscal Years 2018−2020) Synergy Transformation: Creating a Growth Engine

Overview of the 6th Mid-Term Business Plan (Fiscal Years 2018−2020)

Review of Fiscal Year 2019

Mid-Term Business Plan Basic Policy

Measures for Achieving Mid-Term Business Plan Targets

Changing Market Environment• Expanded the Healthcare business domain by realizing synergies with Carina
System Co., Ltd.

• Ongoing decline of the euro.
• In the Amusement market, replacement demand for models that comply
with new regulations fell short of expectations. The wait-and-see attitudecontinued in the market up to the middle of fiscal year 2019.

• Expanded our share of the North American healthcare market.
• Realized V&S market growth. Achieved the number one market share in the
ATC market and increased sales in other business areas.

Key Measures
Investment in Growth Opportunities◦ Healthcare◦ R&D

Significant Growth in Air Traffic Control◦ CAPEX• In fiscal year 2019, we increased sales in the U.S., the largest market
worldwide and achieved the number one market share of the global ATC
market. We will accelerate our expansion to regions outside the U.S. as well.

Increase investment to accelerate “imaging chain innovation.”
Undertake aggressive investment to enhance R&D andproduction capabilities, focusing on Europe and Japan.

◦ Creative Work

Establish market dominance by leading in the HDR era.

Investments for Growth• EIZO GmbH (Germany): Integrated R&D, manufacturing warehousing andadministration into a single location. Aiming to further expand business into
the Healthcare market.
• EIZO Corporation (Japan): Commenced operations in the next-generation
production line to meet the high-mix, low-quantity production needs ofspecialized markets and improve operational efficiency through IoT and AI.

◦ Raising Operational Efficiencies◦ V&S

Continuous improvement of operational efficiencies driven by
AI and RPA.

Level up! Advancing technology, supply and support.

Our Str ateg y

Expand business areas with comprehensive solutions thatencompass the capturing, recording/distributing, anddisplaying of images.

• Spread of the novel coronavirus caused a dramatic change in the businessenvironment.

• Invested continuously for business expansion.

Business Strategy by Key Markets

Our Stor y

We will further expand our Healthcare, Creative Work, and V&S business units and create new opportunities in
untapped markets with comprehensive solutions driven by Imaging Chain Innovation that encompasses the“Capturing,” “Recording/Distributing,” and “Displaying” of images.

• EIZO Limited (UK): Made long-term investments aimed at enabling growth
primarily in the Healthcare and V&S markets.

◦ Amusement

Stay ahead of market changes to maintain the number one
position.

OperatingMargin:Installed monitors in Belgocontrol’s
Tower and aviation center in Belgium

10% or higher

Net Sales: JPY

97.0 billion

Operating
Income: JPY

11.0 billion

Installed monitors at the Chongqing
Branch of China’s Southwest Air Traffic
Management Bureau
EIZO GmbH (Germany): Operationscommenced at the new facility in June2019

Our Value

FY2020 Performance Targets

EIZO Limited (UK): Completed relocation
to the new building in September 2019

Business Performance
Focal Points 2020

Strong Sales inAmusement(JPY billion)
100

B&P

89.3
5.2

5.1

CW

0

AMU

Operating Income (JPY billion)

Other

51.1

77.5

74.5

11.6
38.4
8.4

73.6

7.5

6.4

9.0

26.0

40

20

V&S

35.1

65.2

59.5

7.9

7.4

20.8

20.5

18.0

31.6

3.6
4.1
16.5

5.1

4.3
39.3

FY200645.5

FY200742.0

FY200834.8

FY200936.3

FY2010

58.2
6.3

4.4

FY2011

5.9

8.8

21.9

15.1
6.8

5.0
5.2

74.8

72.5

4.4

15.2

18.4

6.8
6.3

6.9

23.4

7.2

4.5

4.9

6.6
5.5

84.0

78.2

5.4
5.0

15.2
7.8
7.0

26.0

5.7

72.9

8.5

29.7

8.5
7.4
5.9
30.4

13.5

76.4
2.7

10.4
5.3
5.3

13.3

5.3
9.6

3.0

6.4

29.3

20.7

9.5

13.7

15.5

17.9

16.8

18.1

17.7

16.4

FY2012FY2013

FY2014FY2015FY2016FY2017FY2018FY20199• Maximize synergies with Carina System Co., Ltd. Acquire an unrivaled,
overwhelming share in the Japanese operating room market byoffering total solutions encompassing the entire process of capturing,recording/distributing, and displaying images. Promote developmentof telemedicine technologies and support solutions.

3

18.5
FY2020(Mid-term Plan)◦ Meet replacement demand for models that comply

technology.
◦ Bolster business activities in the Middle East, India, and Southeast Asia.
Strengthening Business Development Through the Imaging
Chain

6

40.5

◦ Continue investing for growth.

◦ Develop solutions by Edge AI using EIZO’s unique imaging

12

11.0

8.2

21.6
2.0

15

◦ Accelerate Imaging Chain Innovation.

with new regulations in the amusement market.

Maintain Investment Needed for Future Growth Amid COVID-19
Cor por ate
Over view

60

HC

In the age of VUCA, the additional complications surrounding the impact of the COVID-19 crisis have increased
uncertainty in the marketplace. Under this situation, EIZO will draw on the strength of our strong financial base andcontinue investing for future growth. We will pursue measures now to realize growth in the “post-COVID-19” future.

Expand profit in HC, CW, and V&S markets

97.0

95.6

80

Reinforced our business models amid acontracting amusement market

Gover nance

We have been reinforced our business model in response to the expected contraction in the amusement market from peak sales levels. The profit
structure changed following reinforcement of business areas focused on healthcare and V&S. Under the 6th Mid-Term Business Plan, we will seek toexpand our businesses while also creating a growth engine to achieve sustainable profit growth.

• In response to growing demand for high-value products in the
Healthcare and Industrial markets, which demand superior quality,
we will expand the electronic circuit board manufacturing factory in
Hakui City, Ishikawa Prefecture, Japan.

0

Mid-Term Business Plan (Actual Results and Targets)
FY2018FY2019FY2020 (Mid-term Plan)

Net Sales (JPY billion)

72.9

76.4

97.0

Operating Income (JPY billion)

5.3

6.4

11.0

Operating Margin (%)

7.4

8.4

11.3

CAPEX (JPY billion)

4.1

4.3

2.5−6.0

EUR/JPY

128.45120.81130.00USD/JPY

110.93108.70110.00Exchange Rates (average for period)

15

EIZO Integrated Report 2020

Carina System Co., Ltd. relocatedits head office to Kobe in July
2020. This ideal location andlarger space will enable us
to demonstrate even greatersynergies.

Promote surgical field cameras for
operating rooms created within thegroup through joint development andproduction in-house in our own factories.

Rendering of the new factory, where operations are scheduled to commence inJanuary 2021

Driving Evolution in Our Business Model by Proposing New Solutions• We will develop new products and solutions that add the Edge AI concept to EIZO’s strengths in image processing technology. We will apply edge
computing to support various AI-based tasks in Healthcare, Industrial, and other markets.

EIZO Integrated Report 202016

Value Creation by Market

Case Study Treasury Unit, Sumitomo Mitsui Banking Corporation

Business & Plus (B&P)
For Business
Financial Institutions

Public Authorities

Educational Facilities

Office Use

High-end Home UseSee more case studies at:https://www.eizoglobal.com/solutions/casestudies/3

1 Comfortable stress-free trading with frameless multiple monitors 2 Increase office productivity by connecting the monitor with a notebook computer
3 Multiple monitor configurations aid CAD operations 4 Streamlined connection with USB Type-C

17

EIZO Integrated Report 2020

Advancing Workstyle Reform with 800 27” White
Monitors
Nomura Research Institute, Ltd. is a major think tank andconsulting company in Japan. Its offices have been equippedwith 800 FlexScan EV2750-WT monitors. The company chose
white monitors to create an aesthetically pleasing workplaceas they felt white projected a more spacious impression thanblack to meet this essential requirement.
Furthermore, low power consumption was anotherdeciding factor behind the choice. In replacing two 24”
monitors with a single larger EV2750-WT monitor with higher
resolution reduced their overall power consumption by 72%.
In addition to office applications, the EV2750-WT is also
used in the company’s meeting spaces. Using the Pictureby-Picture mode to display images simultaneously fromtwo computers has stimulated collaborative work such ascomparing presentation materials, which has helped toadvance the company’s workstyle reform.

What impresses me about EIZO monitors is that they make an active
contribution to climate protection. This means that they consume very little
energy during operation, and with the many additional functions, even more
power can be saved. For me as a Sales Manager, this is a good sales argument.

Cor por ate
Over view

4

Case Study Nomura Research Institute, Ltd.

Gover nance2

Our Value

1

EIZO monitors are widely used within financial trading
institutions, which require multiple monitors as well as in
offices and educational facilities.
In addition, the FlexScan series was developed withthorough consideration for their environmental impact.
We have adopted environmentally friendly features
including lightweight construction and the use of recycledmaterials. Furthermore, the low-power consumption design
contributes to curbing power demand and CO2 emissions.
We also collect and recycle used products to fulfill our
responsibility at the end of their operating life.

At Sumitomo Mitsui Banking Corporation, 1,000 FlexScan
monitors were installed to replace equipment in conjunction
with the relocation of the Treasury Unit.
Trading involves responding immediately to market
fluctuations and often requires dealers to focus completely on
their screen. EIZO monitors were chosen for their visual clarityand extremely thin bezel, which makes it easier for users toswitch views between monitors.
Since the introduction of FlexScan monitors, users havereported less stress from extended viewing, leading to a
substantial reduction in eye fatigue.

Our Str ateg y

Choose EIZO, Work Better
In addition to offering excellent image quality and reliability
as basic performance features, EIZO’s standard monitors arepacked with elements following years of dedicated work inenvironmental performance and ergonomics, for example
minimizing eye fatigue.
EIZO monitors have been designed so users can work
comfortably for extended periods and offer a virtuallyframeless design for a seamless view across multi-monitor
configurations and reduced screen brightness andreflection. Moreover, our circuit design makes the monitor
capable of controlling noise and flickering.

Our Stor y

Enabling Dealers to View More Information
Instantaneously, which Contributes to Improved
Efficiency and Speed of Operations

VOICE
Roger LedergerberRegional Sales Manager/
Key Account Manager,
EIZO AGEIZO Integrated Report 202018

Value Creation by Market

Case Study Kyoto University Hospital

Healthcare (HC)

Latest Video Management Solutions Enabling
Advanced Medical Treatment

For Medical Environments
Diagnostic Applications

See more case studies at:https://www.eizoglobal.com/solutions/casestudies/
https://eizo-or.com/en/global/publications/case-studies/

Making Each Life Visual
To address these issues, EIZO provides consulting
services to propose comprehensive visual solutions
that encompass image display equipment, image
control software as well as network layout, enabling theconstruction of an optimal visual environment to meet
operating room needs. We realize innovation in the visualenvironments of hospitals (including operating rooms)
by performing every facet of operations, including image“Capturing,” “Recording/Distributing,” and “Displaying.”▶ Meeting Your Visual Needs

Case Study Kurashiki Central Hospital

Ensuring Monitor Quality Through Low-MaintenanceCentralized Management

HIS
PACS

IVR Room
Hybrid Operating Room
X-ray TV Room

Gover nance

Surgery video recording anddistribution system

Kurashiki Central Hospital has installed several RadiForce
RX850 and RX650 units in its 3D laboratory, which focuseson interpretation, interpretation assistance and analyzing
radiographs. The lab uses the “Hybrid Gamma Function” forcomparing color RI and PET images with other modalities. Thisfunction distinguishes between monochrome and color andautomatically displays images in the optimal brightness andgradation.
The hospital also installed EIZO’s RadiNET Pro Web Hosting
service to manage its 200 high-resolution monitors. The service

raises the operational efficiency of quality management staff
by automatically controlling the quality of monitors withbuilt-in calibration sensors. Tasks such as measuring brightness
and gradation, crucial for maintaining the quality of medical
monitors, can be conducted over a network outside of normal
operating hours.

Our Value

In today’s increasingly advanced and complicated healthcare
field, not only doctors but also other healthcare professionals
such as nurses and clinical engineers are cooperating in thetreatment of patients. It is therefore essential to create anenvironment that facilitates smooth information sharing andcooperation. In addition, due to the improved performanceof state-of-the-art imaging instruments (modalities) and theincrease of hybrid operating rooms, there is now a muchgreater need to efficiently view massive amounts of various
types of image data.

Our Str ateg y

The Department of Neurosurgery at the Kyoto University
Hospital provides advanced surgical treatments to patientswith difficult-to-treat cranial nerve diseases. Surgery to remove
brain tumors (glioma) while the patient is conscious, using
advanced intraoperative monitoring is one of the department
specialization. EIZO operating room solutions have been
adopted in the department’s operating room. Surgery to
remove glioma existing in the language or motor-related
cortexes while patients are conscious is made safer by enabling
simultaneously referencing of multiple medical images. EIZO’s
RadiForce LX470W operating room monitor enables physicians
to review different types of images, such as monochrome X-ray
images and color endoscopic images on a single monitor in

Operating Rooms

Our Stor y

Medical Imaging

tones set to their requirements.
In addition, when used with the LMM0801, a large monitor
manager for distributing multiple images on a single monitor,
surgeons are able to integrate up to eight images and videos
in an optimal layout. EIZO’s operating room solutions wereselected for these useful functions.

Large-Screen Monitor

Operating Room
Recording device

Control Room
Touch panel console

Medical Staff Waiting Room

Large-Screen Mirroring Monitor

Operating Software
Touch panel enables intuitive operation
Anyone can easily view and remotely control
the system using a touch panel monitor,
which displays image sources as simple icons.
Users can then quickly access necessary
information.

Centralized management of all images in
the operating room
In addition to monitors, users can also
manage and operate other medical video
equipment such as operative field cameras
and recording devices from a central location.
Moreover, the system can be linked to apatient by scanning the patient’s ID tag with abarcode reader.

19

EIZO Integrated Report 2020

Cor por ate
Over view

Multiple images are
simultaneously combined anddisplayed on a single monitor,
and it is also possible to enlarge
only the necessary information.

Control Station

The same image on the large-screen
monitor in the examination room isdisplayed in the operating room tofacilitate information sharing.

Large Monitor Manager
Multiple video signals are
combined and displayed
according to the surgeon’s
preferred layout.

Large Monitor Manager and Integrated
MonitorImage data from multiple client monitors
in the examination room are combinedand displayed on one or two screens tosecure the view of the examination room.
This provides an uncluttered desktop witha single keyboard and mouse.

Streaming Monitor
Real-time images from theoperating room can belivestreamed.

Large-Screen Monitor
Critical information isdisplayed in theappropriate location at
the right time.

Surgical Monitors
Operative fieldcameraDesigned with due
consideration for safety andhygiene, the monitors accurately
reproduce the surgery video.

EIZO Integrated Report 202020

Value Creation by Market

Case Study Studio Yagüe

Creative Work (CW)

Ensuring accurate color display environment for each
retoucher

For Graphic Arts

Our Stor y

Publication, Design, Printing, Photography

See more case studies at:https://www.eizoglobal.com/solutions/casestudies/

Our Str ateg yStudio Yagüe is a digital post-production studio located in
Spain, which specializes in retouching graphic works forfashion and advertising.
Retouching is carried out to perfect an image and requires
stringent levels of quality in terms of brightness, color andcontrast. The studio is equipped with over 50 ColorEdge
monitors and are regarded highly for enabling the studio todeliver the optimal visual image content to its clients.

Video Production

True to Creativity
With a color management solution enabling central
management of multiple ColorEdge monitors over a
network, the monitor administrator can save time andeffort by remotely and simultaneously setting the color
mode for several monitors. This enables users to maintain
uniform color display throughout the entire workflow, fromproduction to referencing, even when finishing a product bydividing work, which thereby boosts work efficiency.
3

4

5

6

Netflix announced a joint project with Production I.G,
which has been at the forefront of the Japanese animation
production industry. Production I.G used the ColorEdge
CG318-4K and its successor the CG319X as the main editing
monitors as well as the ColorEdge PROMINENCE CG3145 forpost-production final color checking and referencing.
The ColorEdge monitors enabled the production team tocheck shadows and highlights, which are often undetectableon other monitors, while precise resolution and smooth
movement provided the backbone for animation production.
The team placed great confidence in their EIZO monitors,
as they allowed for the checking of colors at the same level
throughout the whole process from early production to final
processing.

Cor por ate
Over view

2

ColorEdge Used for the World’s First 4K HDR HandDrawn Animation Production

Gover nance1

Case Study Netflix/Production I.G.

Our Value

We are committed to color reproduction quality andseek to increase work efficiency and accuracy in creative
settings including photo editing, design, printing and video
production by offering monitor solutions that facilitateachieving and maintaining accurate color display.
Our ColorEdge series of color management monitorsand EIZO's own calibration software enables users to adjust
their displays settings to their individual needs.

1 Hobby Photography 2 Pro Photography 3 Illustration

21

EIZO Integrated Report 2020

4 Design 5 Printing 6 Post Production

EIZO Integrated Report 202022

Value Creation by Market

Case Study HungaroControl

Vertical & Specific (V&S)

EIZO Chosen for Superior Technology

For Mission Critical Environments
Maritime

Security & Surveillance

Durability × Quality × Everywhere

Our Str ateg y

HungaroControl has been using EIZO’s high-end ATC monitors
to provide air navigation services in Hungary since 2012, when
it installed its first EIZO primary control monitor. Its decisive
factor in choosing EIZO was our superior technology andcomprehensive ATC specific lineup of solutions, including
monitors, recording and streaming systems and graphic
boards.
Monitors used in ATC towers require ultra-low ambient
light reflection, high brightness ranges and outstanding
image clarity. After extensively testing monitors from various
manufacturers, EIZO’s Raptor monitor series was selected.

Other Industrial Markets

See more case studies at:https://www.eizoglobal.com/solutions/casestudies/every requirement by harnessing the visual technology andknow-how we have accumulated over the years.
• Small quantity production• Stable long-term supply• Flexible customization• Reliable long-term maintenance2

3

Our Value

EIZO provides visual environment solutions for specialized
applications and environments in areas such as security andsurveillance, maritime, railway, air traffic control and factory
automation. We serve diverse needs ranging from improving
visibility to ensuring high reliability and excellent display
performance under harsh environments. We meet each and
1

Our Stor y

Air Traffic Control (ATC)Case Study Edmonton Transit Service

Easily Managed EIZO IP Monitors Adopted for
Monitoring Public Transportation
Gover nance

Edmonton Transit Service (ETS) operates multiple modes ofpublic transportation, including buses and light-rail transit in
the city of Edmonton, Alberta, Canada. ETS adopted EIZO’s
IP monitors at its underground stations for crime prevention.
These monitors enabled ETS to simultaneously display video
feeds from 16 cameras* via a single network cable. ETS
opted to construct a simple system not using computers orother devices for easier maintenance while also reducing
vulnerabilities from the standpoint of cyber security.

Cor por ate
Over view*Capable of simultaneously displaying up to 32 units as of May 2020.

4

5

1 Air Traffic Control 2 Maritime 3 Security & Surveillance 4 Railway 5 Factory Automation

23

EIZO Integrated Report 2020

EIZO Integrated Report 202024

Value Creation by Market

Case Study Tokyu Corporation

Amusement

EIZO Chosen to Ensure Clear View of Passengers
Entering and Exiting Trains

Our Value©SANYO BUSSAN CO., LTD.

EIZO’s In-house Development and Manufacturing System
Gover nance

The Albert Wegener Fireboat engages in life-saving and firefighting activities in the City of Rostock in northeast Germany.
The ship’s bridge is equipped with five DuraVision FDS1904T
19-inch touch panel monitors to display electronic nauticalcharts, navigation-related information, the operating status ofvarious onboard equipment and camera feeds from inside andoutside the ship.
The FDS1904T monitor is certified for maritime Electronic
Chart Display and Information System (ECDIS) and radar
applications (IEC61174, IEC62288, and IEC62388). It is also
certified for resistance against heat, vibration, and noise
required for navigation equipment (IEC60945) so can beused with confidence on onboard ships. This track recordin maritime monitor technology was the deciding factor for
selecting EIZO.

EIZO Group
Hardware Development

Hardware Manufacturing

EIZO Corporation◦Irem’s Content Production Technology
We have established a unique presence in the digitalentertainment industry by developing arcade and console
games as well as video software for pachinko and slot
machines.
We are extremely familiar with amusement machines
and therefore able to produce a diverse array of high-quality
products in any genre, including videos for 3D real-timerendering and 2D movies.

EIZO MS Corporation

Production Planning, Software, and Design
Irem Software Engineering Inc.

◦EIZO’s Hardware Development Technology
We have continually met the rapidly changing requirementsof amusement machines by producing monitors and ASIC
image processors featuring high quality and reliability throughin-house development. Moreover, we offer the full capabilitiesof our 3D real-time image processing technologies cultivatedin our amusement business.

Cor por ate
Over view

EIZO Integrated Report 2020

machine manufacturer as an integrated unit.
Our in-house capabilities encompass production planning,
video production andsoftware insertion in addition
to hardware development
and production. This
comprehensive capability
gives us a major advantage
over other manufacturers andvideo production companies.

We entered the market at the dawn of the pachinko era andhave since sought to create amusement products that amaze
users, enticing them to continue playing. We have been a
key longtime partner of the market’s leading amusement
machine manufacturer, producing extremely popular products
including the “Sea Story” and “Hammerin' Harry” series.
Our track record has been supported by thecomprehensive capabilities of the EIZO Group. We develop andmanufacture the hardware and software for monitors installedin pachinko machines and supply them to the amusement

Offering Durability and Visibility at Sea

25

Our Str ateg y

Providing Comprehensive Capabilities by Combining EIZO Hardware with Irem Software

Case Study Rostock Fire and Rescue Department

The possibilities are endless. I am extremely excited to be a part of the EIZO V&S teamduring this initial stage of breaking into the UK market. We have had many positive
conversations and are uncovering numerous interesting opportunities within all verticals.
The market thus far has been extremely receptive and impressed with the EIZO solutions,especially the quality and reliability, which makes us stand out from the crowd.

Our Stor yMonitors Mounted into Pachinko and Slot Machines

Tokyu Corporation uses DuraVision FDF2123W monitors toenable its crew to confirm safety during the opening andclosing of carriage doors by displaying video feeds fromcameras installed on railway platforms. The monitors are used
under harsh outdoor environments so must be highly durable,
have a large screen size and outstanding image clarity. As
they are located on the platform, they must not suffer image
washout should strong sunlight be reflected on the screen. The
FDF2123W monitor meets all these conditions, and train crews
appreciate it for being a dependable monitor, which provides aclear view under strong sunlight as well as in the dark.

VOICE
Claire Labuschagne
Account Manager,
V&S Products,
EIZO Limited◦EIZO’s Flexible Production System
We produce monitors for both B&P and amusement in thesame factory and have a production system that can respondflexibly to changes in orders thanks to our multi-skilled staff
and efficient facilities.

EIZO Integrated Report 202026

Foundation for Sustainable Growth

Participation in the UN Global Compact

The EIZO Group contributes to the development of aprosperous society using our unique technologies andinherent principles resulting in sustainable growth
together with society.

Our Stor y

We have been participating in the UN Global Compact (UNGC),a global framework for achieving sustainable growth, since
September 2012. Participants contribute to the developmentof this framework by exercising responsible and creative
leadership as good members of society. As a UNGC participant,
EIZO is committed to the realization of the global framework
by consistently implementing the ten core CSR principles onprotecting human rights, eliminating wrongful labor practices,
respecting the environment and preventing corruption. We
will continue our efforts in realizing these principles.

Visualizing a better tomorrow for all

Our Str ateg y

EIZO’s Approach to CSR
rights and participating in the sustainable development oflocal communities.
Based on this concept, at the heart of our CSR policy
lies the EIZO Group Principles of Conduct, which serves as a
guideline for every individual member of the EIZO Group tofollow in order to realize our corporate philosophy and serves
as a commitment to our stakeholders.
Please see page 1 for the EIZO Group Principles of Conduct.

CSR Management System

In January 2020, EIZO Corporation became a member of the
Responsible Business Alliance (RBA), which seeks to promote
CSR throughout the global supply chain in the electronics
industry.
The goal of the RBA is to ensure that both companies
and their global supply chains fulfill their social, ethical andenvironmental responsibilities. It establishes standards toensure that working conditions are safe, workers are treatedwith respect and dignity, and business operations areenvironmentally responsible and conducted ethically.

EIZO supports the vision and mission of the RBA, and weare aligning our business activities to be in compliance with
RBA standards. We also encourage all our suppliers to uphold
the RBA Code of Conduct.

President
Gover nanceManagement Committee

CSR Promotion Council ▶ Comprised of Operating Officers
Confirm and approve CSR goals, activities and results

CSR Committee ▶ Selected from managers of practical operations
in each function
Formulate goals for CSR activities and evaluate results

Participation in the Responsible Minerals Initiative (RMI)
EIZO participates in the RMI, a responsible minerals
procurement initiative. To ensure that we source and use
minerals in our products not associated with any conflict or
criminal activities (conflict-free) we carefully scrutinize our
global supply chain.

The mineral resources in question include tantalum, tin,tungsten and gold, defined as “conflict minerals” under the U.S.
Dodd-Frank Act, as well as cobalt.
Cor por ate
Over view

CSR activities are supervised by the General Affairs Department
at EIZO Corporation, Japan. Activities are embodied andcarried out by all members from all EIZO Group Companies inaccordance with the EIZO Group CSR Policy.
As part of our CSR management system we haveestablished a CSR Committee that reports directly to the
CSR Promotion Council. The CSR Committee consists ofrepresentatives from each division of EIZO Corporation andis tasked with formulating and promoting our activities andalso evaluating results. These evaluation results are presented
to the CSR Promotion Council, comprising Operating Officers,
and after approval, reported to the Management Committee.
Under this system we manage a PDCA cycle to promote our
CSR activities.

Membership in the Responsible Business Alliance (RBA)

Our Value

EIZO upholds our corporate philosophy of pursuing imaging
solutions to enrich society. We contribute to society’s
sustainable development by providing products, services
and solutions using our unique technologies and inherent
principles. We address social issues while also ensuring
compliance with all relevant laws and regulations. We
contribute to the sustainable development of society byconducting business in good faith, such as respect for human

Divisions

For Sustainable Development Goals (SDGs)
We aspire to play our part in achieving the SDGs adopted by
the United Nations in 2015 through such efforts as identifying
the fields in which we can contribute and setting our own
targets.

An excellent display with state-of-the-art technology as well as the industry recognition
that EIZO has are not only important for medical work but also critical to the lives ofpatients. In addition to selling monitors, I have in my job a sense of mission to help people.

27

EIZO Integrated Report 2020

VOICE
Maggie Lai
Sales Manager,
Hong Kong andSouth China,
EIZO Corporation

EIZO Integrated Report 202028

Foundation for Sustainable Growth

EIZO’s CSR goals and activities are organized under the Seven Promises, the principles of conduct.

Seven Promises

Major Activities

Mid-Term Goals

FY2019 Activities for Achieving the Goal

SDG Mapping
Our Stor y◦ Released a real-time monitoring solution capable of receiving

Creating New Value◦ Provide high-quality, high-performance visual imaging solutions that address social needs

Contribute to society based on new value createdthrough Imaging Chain Innovation

Our Str ateg yvideo signals directly from video management systems (VMS)(without the use of a computer) to be used for security andsurveillance (DuraVision DX0211-IP: IP Decoding Box)
◦ Created a camera system for capturing surgical proceedings in
4K resolution, featuring a versatile mount that enables the user
to control the camera intuitively (CuratOR MEC-7000-UHD/
SC430-PTR: 4K Surgical Field Camera System)◦O btained ENERGY STAR Ver. 8.0 certification

Environmental Consideration
for Our Products and Business
Operations◦ Reduce the environmental impact of products through the use of recycled plastics, reduction of packaging materials andother activities◦ Reduce the environmental impact of operations by cutting greenhouse gas emissions and promoting energy
conservation

Accelerate the pace of reducing environmental impacts◦P roducts: Industry-leading environmentally
responsible development◦O perations: Reduce CO2 emissions by 50% comparedto FY2017 levels by FY2030◦ I ncreased the usage ratio of recycled plastics◦ I ncreased the usage ratio of recycled materials in packaging◦C onducted a life cycle assessment of the FlexScan EV series◦O btained ISO 50001 environmental management system

certification
Our Value◦ I ntroduced renewable energy for part of the electricity needsof EIZO’s Hakui Factory

Operating as an International
Corporation◦ Conduct initiatives to ensure responsible procurement of minerals, including prohibiting the use of specific minerals

associated with illegal acts
◦ J oined the Responsible Business Alliance (RBA)

Open and Fair Trade

Gover nance◦C onducted a survey on conflict minerals◦ Established the “EIZO Supplier Principles of Conduct” to engage in sound business activities around the world and asked

suppliers to implement the directives outlined in the code

Promote CSR in a concerted effort throughout the
supply chain◦ Provide fair, accurate information on management policy, business strategy and financial activity◦ Provide fast, reliable after-sales service◦H eld a briefing for institutional investors◦ Promptly share and incorporate queries and requests from customers◦C ontributed to local communities through various activities

Cor por ate
Over view

Strong Bond of Trust with
Stakeholders◦ Contribute to local communities through various activities

Strict Respect and Compliancewith both the Letter and Spiritof the Law◦ Enhance corporate governance◦ I mplemented compliance training at all EIZO companies◦ Raise employee awareness through compliance training◦R educed total work hours by improving operational efficiency◦P repared an action plan (FY2019−FY2021) to promote theactive participation of womenBroadminded Corporate
Culture◦ Conduct initiatives for sustaining a motivating workplace◦ Promote initiatives on occupational health and safety

Create a working environment that enables everyone towork with vigor◦P repared a plan (FY2020−FY2022) for nurturing the next

generation of workers◦A chieved the target rate for employment of persons withdisabilities◦O btained ISO 45001 occupational health and safety

management system certification

29

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Creating the World’s Best

Devices Creating Products Committed to Exceeding Expectations

Development

Development Capabilities Ensuring the World’s BestTo create the world’s best products, EIZO maintains afully integrated in-house system for product planning,development, production and quality assurance. This
ensures we continuously accumulate and advance visualtechnologies and expertise within our organization.

our very own ASIC and FPGA image processors that are
indispensable components for the system.
When the need for customization or ultra-reliability
cannot be achieved even in collaboration with component
manufacturers, we realize them in-house, drawing from ourproprietary technologies, including touch technologies, opticalbonding, IP standards, environmental and customization
capabilities, etc.

Our Stor y

Novel devices and image processing technologies are vitalfor creating innovative products. We therefore pay close
attention to the performance of all components as they
are indispensable in creating high quality images. In orderto ensure such uncompromising performance we build
and maintain sound partnerships with each and every key
component manufacturer. In addition, our proprietary control
systems maximize the ability of all components to evensurpass necessary performance levels. We have also developed

Our Str ateg y

The Spirit of Global Development
Accumulating Unrivaled Visual Technologies
for these specific environments are realized in both hardware
and software technologies. Our hardware design technology
is capable of creating images with excellent quality while oursoftware technology maintains and controls display quality,
allowing for widely recognized solutions in professional
applications that require a consistently high degree of accuracy
over long periods of use.

We also hold separate global meetings for sharing
detailed information on specific markets, trends andrelated technologies. For example: In fiscal year 2019, those
responsible for the ATC market from EIZO (Germany, U.S., U.K.,
Austria, Italy, Switzerland, Nordics, Czech, the Netherlands,
and Japan) gathered in Germany to exchange information
on market trends, new products and sales strategies and also
undertook technical training including assembling an actual
2K2K primary control monitor.

Our Value

Realizing the high performance, features and functions
demanded by specific environments such as healthcare,creative work and other vertical markets has been achieved
through the cultivation of our visual technologies anddevelopments incorporated in monitors for the Business & Plus
market. Through this evolution we have accumulated a strong
base of core visual processing technologies and competencies.
In particular, the unrivaled quality and reliability essential

EIZO maintains research and development (R&D) andmanufacturing facilities in multiple locations globally.
Each year EIZO companies responsible for R&D gather at
the headquarters to introduce their technologies at the
EIZO Technology Showcase in order to ensure smoothcollaboration and creation of the world’s best. This event is
an important opportunity not only for engineers to exchange
information but also for sharing EIZO’s future vision with sales,planning and manufacturing staff from around the globe.

New Technologies Evolving Capabilities
complete systems covering the entire visual process; fromthe initial input of visual data, image capturing, recording
and distribution right through to, and including, actual visualdisplay output. The evolution of this complete imaging system(Imaging Chain Innovation) significantly expands our ability topropose solutions for an even wider range of markets.

Gover nance

By incorporating not only our hardware and software
capabilities but also GPU and AI technologies we haveundergone a significant transformation. We are now
developing a range of visual information processing
technologies such as analytics, analysis, recognition, anddecision making capabilities based on such information.
These technologies expand our capabilities beyond
conventional hardware monitors to the development ofCor por ate
Over view

VOICE
Development at EIZO is characterized by the close collaboration between hardware and softwaredevelopers to produce technologically advanced products. Functions difficult to develop by hardware
alone are enhanced through software technology to create products and services with greater appeal forcustomers. Since we provide products and services for highly specialized fields, our developers interact
with customers to come up with detailed specifications and propose new functions by integrating theirneeds with our accumulated technologies. We will continue developing products that satisfy customers
by drawing on the strengths of our ever-evolving technologies and unique concepts.
Airi Kurokawa
Group Leader, Healthcare Products,
R&D, Healthcare Products Department

31

EIZO Integrated Report 2020

EIZO Integrated Report 202032

Creating the World’s Best

Advanced Production Facilities Using AI, Robotics, and IoT

Manufacturing“Stop looking for the reasons why you cannot do it.
Think seriously how you can do it!!”This statement originates from an EIZO production site
and is now widely shared as the philosophy of EIZO’s
manufacturing. Each and every employee embodies thisphilosophy ensuring EIZO maintains our high quality.

our Information Systems Department joins to analyze themassive volume of quality data accumulated daily in the
production process. This is to ensure the data is fully used toconstantly improve the development of new products andadjustment and design production systems and processes.
One significant achievement has been AI-based quality
adjustment on the production line, which has boosted
production efficiency by 15%.
EIZO’s proven strength is not only in realizing high quality
and reliability but also creating a strong sense of unity in
manufacturing that transcends barriers between departments
and countries.

We have consistently incorporated state-of-the-art
technologies into EIZO products, which requires the continualrefining of our manufacturing technologies. At our factories,
we focus on protecting the quality of EIZO products andnurturing human resources to be capable of handling thesecutting-edge manufacturing technologies. We also organize
annual factory tours for employees of Group companies toshare EIZO’s manufacturing spirit and technologies globally.

Inspection System for Catching the Smallest Abnormality
For every single unit we perform a thorough inspection, bothvisually and mechanically. In addition to automated inspection
processes, such as screen uniformity, the final inspection
is conducted visually. Monitors are products that people
constantly use and see so we believe in the importance ofinspection using the human eye, regardless of advances in
automation. This requires a high level of competence that can
only be performed by experienced staff.

Gover nance

The Spirit of Manufacturing and Technologies

Our Value

Electronic circuit boards in EIZO monitors are manufactured
by EIZO MS Corporation, located in Hakui City, Ishikawa
Prefecture. The circuit boards are supplied to EIZO factories inJapan, China, and Germany and are used in more than 90% of
EIZO monitors sold worldwide. Final products are assembled
in Japan, Germany, and China. The entire production process
is undertaken within the Group, from the manufacturing ofelectronic circuit boards to the assembly and inspection of final
products.
Furthermore, our R&D and manufacturing departments
work together from the development stage, freely exchanging
ideas for improving manufacturing operations. In addition,

Our Str ateg y

Manufacturing Unity with Group Production

Our Stor y

EIZO-Style Manufacturing Creates the World’s BestApproximately 80% of the EIZO monitors worldwide areproduced at the headquarters factory in Japan. Here,monitors designed for business or office applications wherelarge volumes are demanded are mass produced using line
production processes on conveyor belts. Monitors for diverse
applications such as healthcare, creative work and othervertical markets that require a lot of specialized adjustments
and inspection are produced in smaller quantities using cell
production processes. In addition, when we expanded ourfactory in 2016, we designed and created a hybrid production
facility for more efficiently and simultaneously producing
multiple models by selecting the optimal production method
according to specific quality, grade, cost, and delivery
requirements.
Hybrid production is a state-of-the-art production processthat promotes automation, easing effects of the labor shortageby taking full advantage of AI, IoT and robotics. Assembled
monitors are automatically transferred to an adjustment rack
where an automated camera system automatically adjusts thebrightness and color settings. This system supports the flexible
and simultaneous manufacturing of products with varying
sizes and applications.

Cor por ate
Over view

Manufacturing Circuit Boards Meeting High Quality Standards
To maintain high quality standards in the mounting ofelectronic components, the latest equipment is used to adjust
the mounting position at micron levels. X-ray inspection
prevents defective components from leaving the line bychecking areas that cannot be inspected visually, andautomated optical inspection confirms the mounting status of
all components. The EIZO logo is firmly engraved on all circuitboards made to prove the high reliability of EIZO monitors.

VOICE
I work on the assembly line for B&P monitors. Since there are many different types, each with its own
manufacturing process, I strive every day to maintain high quality while paying close attention to detail. I takeon the challenges that new models present, with a sense of achievement and satisfaction when my efforts toacquire more knowledge and skills lead to greater efficiency. Looking ahead, I hope to apply my experience inthe production of monitors for a wider range of areas, such as V&S, Healthcare, and Creative Work.

Arisa Yokota
Manufacturing Section I, Manufacturing
Department

33

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Creating the World’s Best• Anechoic Chamber

Quality

The following Quality Management Policy was established toprovide quality products and solutions that are comfortable
to use in various environments and ensure we continue toprovide products to the market with an uncompromisingcommitment to quality.

Our Stor yPremier Quality Assurance Creating the World’s BestWe obtained EMC testing facility certification in 2002
from the U.S. National Voluntary Laboratory Accreditation
Program of the U.S. National Institute of Standards andTechnology, based on ISO/IEC 17025 requirements. We also
obtained certification from TUV in 2003.

Ensuring Quality in Procurement

The EIZO Group is committed to continually fulfilling customers’ expectations by proposing and offering high quality
products, services, and solutions. We therefore:
2 Carry out our responsibility for environmental preservation by actively reducing the effects on the environment in every businessactivity from product development to manufacturing to sales and service.

Our Value

1 Aim to develop high quality products by pursuing the world’s highest level of technology.

Our Str ateg y

EIZO Group Quality Basic Policy

EIZO procures more than 10,000 parts from around the world.
To guarantee the highest quality of products and services it isessential to source only quality components.
In addition to establishing procurement policies andguidelines and providing them to suppliers, we achieve
our goals by collaborating with suppliers to ensure quality
through the evaluation and verification of samples during thedevelopment stage. We also develop and share our knowhow and market feedback with suppliers as part of building acollaborative and mutually beneficial partnership enabling us
to grow together.

3 Set the quality target which are carried out and reviewed by all the employees in every business activity.
4 Establish a quality management system, review it periodically, and continually improve it to sustain its validity and suitability.
5 Meet the expectations of both healthcare professionals and those who receive medical treatment by providing medical devices
with assured quality, effectiveness, and safety.

Quality Management System and Certifications (in Japanese)
https://www.eizo.co.jp/company/csr/1/process/management/

Ensuring Quality in Planning and Development

EIZO in-house testing equipment and facilities are capableof conducting tests under harsh conditions such as
extreme temperature/humidity, vibration, shock, etc. inaccordance with the standards and assessment guidelines
for materials procured by the U.S. Department of Defense.
Passing the evaluation proves products are highly reliable.

We conduct sales and after-sales activities through a dedicatedglobal network. Within this network of EIZO Group Companies
and Authorized Distributors we are constantly sharing thelatest information.
We collect data that is used to predict issues that could
potentially impact product quality and the actual occurrenceof these issues during daily business operations. In the unlikely
event of an issue related to safety or quality occurs, we will takeprompt and appropriate measures (e.g., cause investigation,
countermeasure implementation, product repairing,
information disclosure, etc.).

Countermeasure,
Response,
Information
Disclosure

President
Instruction
ReportTask Force

ReportQuality Assurance
Department

Inquiry

Cor por ate
Over view• MIL-STD-810 Environmental Testing and Assessment

After-Sales Quality Management

Related Authorities◦Main Testing Equipment

improve production efficiency and provide feedback for new
product development.

Customers

At the planning and development stages, in addition to complying with the laws, regulations and industrial standards of each country,
we are rigorously assessing risks for each market and application. Moreover, we have achieved superior standards of quality throughapplication of the Group’s fully integrated in-house development system.
We also have our own in-house testing equipment for EMI, EMS and other safety standards, including reliability tests such as highand low temperature tests as well as vibration and drop tests. These tests were typically conducted at dedicated facilities externally,
but in EIZO prompt and careful evaluations as well as efficiently delivered feedback to the R&D and manufacturing teams play majorroles in continuously maintaining and improving quality. Therefore, EIZO now has proprietary testing equipment in-house with theidea of fulfilling the above-mentioned requirements.

At each stage of production, important key parameters suchas brightness and contrast are automatically recorded andsaved for real-time quality monitoring. We use this big data to

Gover nance

6 Comply with legal and social requirements.

Ensuring Quality in Production

VOICE
Providing our medical customers with high-quality EIZO monitors gives me great satisfaction. The excellent
image quality for precise diagnostics, high-quality performance combined with a long life-cycle, plus many
useful features and functions, guarantee that we can meet the expectations of our long-standing customers.

Imke Kurtsiefer
Team Leader Inside Sales Healthcare,
EIZO Europe GmbH35

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Creating the World’s BestCentralized Management of EIZO Intellectual
PropertyIntellectual Property

We believe technology and design created in the process of product development to be one of the most important assets for
EIZO and actively seek to obtain patents and design rights to protect them. Our recent focus has been on attaining patents
and design rights in countries and regions where we expect product sales to grow such as China and India, in addition to
Japan, Europe, and the U.S., currently our main markets. We aim to construct a global network of intellectual property.
We also believe that trademarks, including the names of our company and products, are key to protecting and enhancing
EIZO brand value. We therefore strive to obtain and maintain trademark rights in all countries where we sell our products.

Our focus has been on attaining patents and design rights in countries and regions where we expect product sales to grow such as
China, India and Russia, in addition to Japan, Europe and the United States, currently our main markets. Our overall goal is to construct
a global network of intellectual property.
▶ Number of Patents Held by the EIZO Group (as of March 31 of Each Fiscal Year)

Japan

543

488

U.S.A.
400

Europe
China

139
6
37
14
82

2009

2010

296 5
4
93

91

86

100

23

24

31

40

45

58

68

147

164

170

155

150

152

153

156

2012

2013

2014

2015

2016

2017

2018

2019 (Fiscal Year)

232 7
1
56
21

11

114
2011

227

280 2
1
90

39
17

In the event that a third party is found to have infringed upon
EIZO’s intellectual property rights, we will seek appropriate
measures from the third party to be taken to protect theserights.

185
Gover nance

0

125
6
37
14
68

183 6
45 1
17

371
51
23

57
35

309 21

Other
200

332

63
29

Protecting EIZO’s Intellectual Property Rights

Our Value600

We have introduced a survey and application procedure forpatents and designs into our product development process
to prevent missed opportunities for identifying new core andperipheral technologies as well as designs created during theprocess.
We secure patents or rights for all technology or designthat can be a powerful and beneficial asset for EIZO. To achievethis, we strategically select appropriate countries for theapplications in accordance with the area and characteristics ofthe technology or design. We then develop a network of corepatents and design rights.

Our Str ateg y

Securing Patents and Designs and Obtaining Rights

Number of Patents Held by the EIZO Group and Territories Where the EIZO Brand is Widespread

During the initial stages of product development we identify
new technologies incorporating them into the product plan.
We then investigate to confirm if there are any third-party
intellectual property rights attached to any component
technology (including technologies developed by EIZO).
Should such a right be confirmed to exist we exercise theutmost care to ensure that we do not infringe upon any
third-party intellectual property rights by taking action suchas excluding the use of the technologies or by obtaining
permission to use a technology from the third party.
In determining a new product name our top priority is toensure that there is no possible infringement of any third-party
trademarks in any countries where the product is to be sold.

Our Stor yIntellectual Property Initiatives Vital to Business Growth

We have centralized the management of all EIZO intellectual
property (including patents, design rights, and trademarks) andother intellectual property regardless of whether rights havebeen secured. We have established a system to facilitate theuse of intellectual property and sharing of related information
within the EIZO Group. To effectively manage our intellectual
property, we periodically evaluate the value of patents anddesign rights based on technology trends and implementation
status.

Respect Third-party Intellectual Property Rights

Encouraging Creation of Patents and Designs
We have established and manage an incentive program for
employee inventions to encourage staff to secure patents anddesigns. We also have an internal awards program for inventors
and others who have secured patents or rights to designs thathave contributed to our business.

▶ Territories Where the EIZO Brand is Widespread (as of March 2020)
Cor por ate
Over view■ Countries with trademark protection

VOICE
Raising employee awareness is a key for efficiently implementing every intellectual property initiative.
Accordingly, the Intellectual Property Department has been periodically organizing workshops on
intellectual property and actively communicating with other departments. The purpose of our study
groups is to instill participant awareness of patent and design creation and respect for the intellectual
property of third parties. We also provide timely information on the ongoing evolution of intellectual
property regulations in each country.
With regard to communication, we provide patent information containing legal elements in aneasy-to-understand manner for engineers exploring possible patent applications for newly developed
technology. Meanwhile, we obtain in-depth technological information from engineers to support
renewed considerations based on mutual understanding.

37

EIZO Integrated Report 2020

Michihiko Aono
Section Leader, Intellectual Property
Management, Intellectual Property
Management Department

EIZO Integrated Report 2020

38

Products and Business Operations that Consistently Reduce Environmental Impacts

EIZO Initiatives for Reducing Environmental Impact

The Environment

EIZO has been working to reduce the environmental impactof our products and businesses since we launched our own
brand of CRT monitors in Europe in 1985. We will continue
to address environmental issues in our business operations
in order to play our part in enriching future society.

Compliance with the Latest Environmental Standards
We proactively develop environmentally soundproducts that comply with the latest environmental
standards, including but not limited to TCO Certified
Generation 8, EPEAT and ENERGY STAR 8.0.

EIZO’s Environmental Approach and Initiatives

Our FlexScan EV series* uses recycled plastic formore than 15% of its parts.

In addition to making environmentally sound products, EIZO believes that we must also strive to reduce the environmental impactof our business operations. We are guided in our efforts by the following Energy and Environmental Basic Policy, on which we haveestablished management systems.

*More than 85% of the product’s external housing, such as
cabinets and stands, are made of recycled plastic.

1 Comply with legal, moral and other requirements regarding environmental protection and the effective use of energy.

We use cardboard made of recycled paper as
packaging for EIZO products to reduce theirenvironmental impact. In addition, the FlexScan
EV series cushioning is made up of 100% recycledmaterials. We are also working with our suppliers on
the reduction of the packaging materials for some ofthe parts we purchase.

We make limited use of plastic and paints
containing flame retardant in the external housingof our monitors to reduce the impact on theenvironment and on humans and to enhance therecyclability of our products.

Collection and Recycling of Products
We also collect used monitors for recycling in Japan,
Europe, and the U.S. to realize our responsibility
even beyond the usage lifetime of our products.

Gover nance

EIZO is aware that one of our key responsibilities is to conduct business taking the environment into consideration.
We strive to contribute to the sustainable development of our society by being conscious of the impact our businesshas on the environment. We will continue our concerted effort in the effective use of resources, climate change
mitigation, environmental protection (including the protection of biodiversity and ecosystems), prevention ofpollution and reduction of other environmental risks. We therefore:

Environmentally Sound Packaging

Designs that Are Kind to Both the Environment and Humans

Our Value

Energy and Environmental Basic Policy

Along with designing for low power consumption,
we equip our monitors with numerous features that
reduce power consumption and CO2 emissions.

Our Str ateg y

Recycled Plastic for Monitor Housing

Enhancing Power Saving Features
Our Stor y

Products and Business Operations that Consistently
Reduce Environmental Impacts

2 Provide eco-friendly products and services, implement activities to reduce our environmental footprint and take active measures
to prevent pollution.
3 Constantly improve our environmental impact performance when conducting business such as: use of sustainable resources,
pollution prevention, green procurement, enhancement of efficient energy use and reduction of greenhouse gas emissions.

5 Conduct awareness-raising activities targeting our members to improve understanding of environmental protection as well as
the use of clean and sustainable energy.

Reduction of Greenhouse Gas Emissions
EIZO recognizes that most of our greenhousegas emissions are derived from our electricity
consumption and we therefore intend to reducethese emissions by 50% of fiscal year 2017 levels by
no later than 2030.

Reduction of Supply Chain Environmental Impacts
Cor por ate
Over view

4 Establish an energy and environmental management system that is in accord with business activities, energy and environmental
management goals, implement, review and continually improve our performance.

We have established our own EIZO Green
Procurement Standards and preferentially procure
environmentally friendly products, components andmaterials (including packaging) that adhere to ourquality, function, and cost requirements.

VOICE
As a manufacturer of quality products we must always add value to each and every interaction with ourcustomers. This includes emails, phone calls and meetings in the sales phase as well as future daily productinteraction or later customer services if needed. Conclusively one way of adding value for us as a sales team is
to educate customers on the impact monitors have on the environment and how EIZO’s unique quality andknow-how in monitor manufacturing actually can transform the customer into an environmental benefactor
while helping them apply their constantly increasing environmental demands.

Independent Monitoring of Chemical Substances
For all components used, we prohibit or control theuse of prohibited chemical substances in accordance
to the rule of all applicable laws and environmental
standards.

Dick Bender
Sales Manager, EIZO Nordic AB

39

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40

Products and Business Operations that Consistently Reduce Environmental Impacts

COLUMN

Higher Energy Efficiency, Use of Recycled Plastics, and Other Initiatives for Reducing the Environmental
Impact of EIZO Products

Compliance with Environmental Standards and Legal Requirements▶ CO2 Emissions in the Life Cycle of the FlexScan EV2457
0

100 (%)

50■ Component ■ Transportation ■ Manufacturing ■ Usage■ Disposal
procurement
128.0 kg-CO₂ 1.0 kg-CO₂
1.6 kg-CO₂
3.6kg-CO₂
38.6 %
0.3 %
197.4 kg-CO₂
0.5 %
1.1 %
59.5 %

Recycled Plastic and Flame-Retardant-Free Plastic for Monitor Housing
One of our core product lines, the FlexScan EV series, uses
recycled plastic for more than 15% of its external housing*,such as cabinets and stands, and we will continue work toincrease this further. In addition, we are avoiding the use ofpaint on monitor housing by using flame-retardant-free plastic
in consideration for environment preservation.
This prevents environmental pollution caused byemissions and discharges during the component production

process, reducing chemical substances that hamper recycling
and contributes to improving
recyclability.

Our Valueachieve compliance with TCO Certified Generation 8, as soon
as the standard came into effect.
EIZO also complies with other regulations including the
WEEE Directive (collection and recycling of discarded electricaland electronic equipment), the RoHS Directive (use of certain
hazardous substances in electrical and electronic equipment),
the REACH Regulation (registration, evaluation, authorization
and restriction of chemicals) and the ErP Directive (ecodesigning for energy-related products) as well requirements forenvironmental labeling initiatives such as EPEAT (international
environmental standard for computers and monitors), ENERGYSTAR 7.1 (energy efficiency standard established in the U.S.)
and PC Green Label (Japanese environmental standard forcomputers and monitors).
EIZO will continue to pay close attention to environmental
requirements and aim to develop products with a lower
environmental impact.

We conducted a product life cycle assessment for the FlexScan EV2457
color LCD monitor on its environmental impact at each stage frommanufacturing to usage and disposal. Based on the assessment, weformulated an Environmental Product Declaration (EPD) following
the guidelines of Underwriters Laboratories Inc. (UL), an international
certification institution, and obtained certification as a Type III declaration
under ISO 14025. As a result, we discovered thatgreenhouse gas emissions are particularly high duringcomponent manufacturing and product usage stages,
highlighting the importance of improving the product’senergy efficiency in reducing emissions. Our EPD has beencertified by a third-party certification body.

Our Str ateg yIn our effort to proactively develop environmentally friendly
products, we abide by all governing laws and regulations. We
also comply with major voluntary environmental standards ineach market we conduct business.
In particular, Sweden’s TCO, which has established itself
as a de facto global environmental standard for monitors, has
become the starting point for our response to environmental
issues. The TCO is a comprehensive standard that requires
compliance in safety, electromagnetic waves, and ergonomic
design in addition to environmental requirements. Its
requirements have recently expanded to include corporate
initiatives, addressing broader issues such as CSR and corporate
governance.
EIZO has always participated in formulating the TCO
standard and playing our part in scrutinizing its content toachieve advanced and effective standardization. As a resultof our ongoing efforts we became the first in the world toEnvironmental Impact of the Product Life Cycle
Our Stor y

Our commitment to developing environmentally friendly products has been part of EIZO’s core DNA since entering the computer
monitor market in 1985. While we naturally comply with all relevant environmental standards, it is important to us to ensure we
reduce our environmental impact even further, so created our own internal environmental certification system in 2002. Throughthis activity we have been continuously reducing energy consumption and proactively adopting recycled plastic and paper.

*More than 85% of the product’s external
housing, such as cabinets and stands, aremade of recycled plastic.

Gover nance

Reducing the Environmental Impact of Packaging Materials

December 2018
TCO Certified Generation 8First in the world to comply

TCO 95

TCO 99Addition of environmental perspective

Starting point of EIZO’senvironmental initiatives

Moreover, we are seeking to reduce packaging materials
from the parts procurement stage by working with our
suppliers to reduce the packaging for some of the parts wepurchase. Furthermore, when transporting items to certain
customers, or between factories in Japan and overseas, wereduce packaging materials by adopting reusable containers or
reusing packaging boxes and materials.

Cor por ate
Over view

TCO 92

August 2006
TCO 06Media Display
January 2003
First in the world
TCO 03
to comply
First in the world
to comply

April 2009
TCO Display 5.0
First in the world
to comply

We use cardboard made of recycled paper as packaging
materials for our products and minimize the information
printed on packages to reduce their environmental impact.
The FlexScan EV series cushioning is also made up of 100%
recycled materials. In addition, we strive to reduce resourcesand energy used during transport by packing multiple units
in one box for customers who order larger quantities and by
shipping products without unnecessary cables where possible.

Collection and Recycling of Products
EIZO complies with environmental laws and regulations in each of the countries we operate by collecting and recycling usedproducts. We also fulfill our responsibilities in the recycling of the products, including individual components.

Multiple Power Saving Features
Products in the FlexScan series for the Business & Plus (B&P)
market are equipped with multiple power saving features,
including automatic brightness control that reduces backlight,
low power consumption during standby mode and apower save mode. Users can substantially reduce electricity
consumption for an entire office by using our freely available

41

EIZO Integrated Report 2020

power management software to simultaneously adjust thebrightness and power of multiple monitors centrally.
The FlexScan EV series offers even greater power saving
capabilities with its higher efficiency backlight, zero-wattelectricity consumption in standby and a function that
confirms the amount of power saved.

Japan
EIZO collects and recycles used monitorsfrom homes and offices in compliancewith the Waste Disposal Act, the Law
for Promotion of Effective Utilization of
Resources, and the PC Recycling Markprogram.

EuropeThe European WEEE Directive came into effectin August 2005 to reduce the environmental
impact through promotion of the 3R’s of
reduce, reuse, and recycle for discarded
electrical and electronic equipment. EIZO has
complied with the directive by establishing acollection and recycling system for applicableproducts sold in Europe.

United States
The EPEAT standard requires the provisionof a collection service for used electric andelectronic equipment. EIZO has met thisrequirement by establishing a collection andrecycling system for products sold in the U.S.

EIZO Integrated Report 2020

42

Products and Business Operations that Consistently Reduce Environmental Impacts

Overview of the Environmental Impact of Our BusinessBusiness Activities to Reduce Environmental Impact
EIZO proactively work to reduce the environmental impact, not only of our products, but also of our business operations and entire
supply chain.

INPUT

Electricity: 1 0.115 million kWh
Kerosene: 4.4 kl
LPG: 107.2 t
Compressed air: 7,000 m3
District heating: 879,000 kWh

The reduction of greenhouse gas is a pressing global concern. EIZO recognizes that most of our greenhouse gas emissions arederived from electricity consumption and therefore we set the following targets for reduction:

Waste
Industrial waste: 410.4 t
General waste: 15.5 t
Wastepaper: 545.9 t

Manufacturing

CO2 Emissions

Energy Use

6,000

90,000

Scope of calculation: the following six areas

4,000

60,000105,145

101,533

108,700

6,304

6,505

5,654

30,000

0

0

2016

2017

2018

2019

(FY)

▶ Flow of Chemical Content Survey

Request

Nanao

Production of
Circuit Boards

Assembly of
Monitors

EIZO Technologies
GmbH (Germany)

Development andManufacturingof Monitors

Development andManufacturingof Monitors

Development andManufacturing of
Monitors

Total

31,334

7,908

1,790

7,642

2,750

108,700

527.6

314.3

79.3

17.9

44.8

27.6

1,011.5

4.4

—

—

—

—

—

4.4

107.2

—

—

—

—

—

107.2

—

—

—

—

0.7

—

0.7

—

—

—

—

87.9

—

87.9

Compressed air(10,000 m3)
District heating(10,000 kwh)

Copier paper (kg)

3,937

956

120

351

1,620

—

6,984

Water usage (m3)

19,046

3,056

3,284

836

1,289

—

27,511CO2 emissions (t-CO2)

2,708

1,325

357

112

293

115

4,910

Industrial waste (t)

208.6

41.4

102.8

—

35.4

22.2

410.4

General waste (t)

10.8

2.2

1.5

—

1.0

—

15.5

Wastepaper (t)

265.9

67.7

168.2

—

27.5

16.6

545.9

Greenhouse Gas Emissions by Scope (FY2019)
Scope and Category

Scope 1

Emissions (t-CO2)

Composition (%)

333

Scope of Calculation

6.8 Consolidated

Scope 2

4,577

93.2 Consolidated

Total (Scope 1 + 2)

4,910

100.0 Consolidated

Scope 3376,365

100.0 —

1. Purchased products and services

113,73030.2 EIZO Corporation headquarters

Suppliers

9,865

2.6 Consolidated

3. Fuel and energy-related activities not included in Scope 1 or 2

690

0.2 Consolidated

4. Upstream transportation and distribution

530

0.1 Shipment volume of products as cargo owner

5. Waste generated in operations

232

0.1 Consolidated

6. Business travel531

0.1 EIZO Corporation headquarters

7. Employee commuting

782

0.2 Group companies in Japan

11. Use of sold products

250,001

66.4 Consolidated

4

0.0 Consolidated

2. Capital goods

Environmental
Information
Database

EIZO GmbH(Germany)

57,276

Kerosene (kl)
LPG (t)Hakui

EIZO Display
Technologies (Suzhou)Co., Ltd. (China)

Cor por ate
Over view*Examples of regulated substances: mercury and lead (including theircompounds), ozone depleting substances, halogen substances and beryllium

Response

Development
and Manufacturingof Monitors

Electricity (10,000 kWh)

Waste

◦Management of Chemical Content Information
To promote green procurement, we prohibit or control theuse of regulated substances* in accordance to the rule of
all applicable laws and environmental standards in all thecomponents used in our products. We have established a
database for collecting and managing the results of surveys
we undertake to determine which suppliers and materials
best align with our values. In doing so we are also able touse the information collected to evaluate the environmental
compliance of our own products.

Chemical Substance Survey(chemSHERPA File)

Operations

EIZO MS Corporation (Japan)

Gover nanceInitiatives for Environmentally Friendly Procurement

Environmental Information
Survey (EIZO MIS file)

EIZO Corporation
Headquarters(Japan)Energy usage (GJ)
Energy Resources

Note: Calculations of CO₂ emissions associated with power consumption
are based on the conversion factor of Hokuriku Electric Power
Company for Japan and the calculation methods of each country.

CRS Initiatives Survey Report

Area

4,910

2,000

2015

▶ Environmental Impact by Area
Our Value

Initiatives for Fiscal Year 2020

We will increase the use of renewable energy sources at EIZO Corporationand EIZO MS Corporation by 10% of power consumption.

Sales

27,511 m3

101,896

5,800

We switched part of the power consumed by EIZO MS Corporation (Hakui
factory) to renewable energy.

Water usage:(GJ)

89,847

Initiatives for 2019

Distribution

120,000

8,000

Our Str ateg y(t-CO2)• Review power consumption• Use renewable energy• Obtain ISO 50001 certification and strengthen operation of our energy management
systemEIZO Integrated Report 2020

Material Procurement

6,984 kg

▶ CO2 Emissions and Energy Use (Japan, China and Germany)

To achieve this we will:

43

4,910 t-CO2

Copier paper:

TargetReduce greenhouse gas emissions by 50% from fiscal year 2017 levels
by no later than 2030.

◦Green Procurement
In order to maintain and strengthening our environmental
protection initiatives and fulfill our social responsibility, weestablished our own EIZO Green Procurement Standards
to guide material procurement activities. The standards
are also intended to enable us to respond to the evolving
environmental rules and regulations in each country.
In selecting products, we prioritize the procurement ofenvironmentally friendly products, components and materials(including packaging) that comply with quality, function andcost requirements.

CO2 Emissions

R&D

108,700 GJ

Our Stor y

Energy usage:

Reduction of Greenhouse Gas Emissions

OUTPUT

EIZO

12. End-of-life treatment of sold products

EIZO Integrated Report 202044

Creating an Environment for Employees to Demonstrate Their Abilities and Thrive

Supporting the Careers of Persons with Disabilities

Human Resources

Creating an Environment for Employees to
Demonstrate Their Abilities and Thrive
People are the key to supporting the EIZO brand.
Upholding our free and open corporate culture, weconstantly work to create an environment in which each
employee can demonstrate their abilities and thrive.

▶P ercentage of Employees with Disabilities (Japan) and Number of

Employees with Disabilities

Percentage of employees with disabilities(Japan) (as of the end of each fiscal year)

Number of employees withdisabilities

FY2017FY2018FY2019March 31, 2020

2.18%

2.13%

1.91%

Japan: 37 Overseas: 11

Our Stor y

We strive to ensure fair employment and develop workerfriendly environments at EIZO by fully observing the laws ofeach country and having people with disabilities active in avariety of workplaces. In Japan, we are actively engaging in
recruitment efforts such as participating in joint company
information sessions for people with disabilities and acceptinginternships. We are always seeking to improve our workplaceenvironment while creating work opportunities for people
with disabilities as we expand our business.

Our Str ateg ySupporting Diverse Work Styles

Laying the Foundation for a Motivating Workplace

To enable employees to maintain a balance between life
events such as childcare and nursing care and their work,
we provide various programs to support diverse work styles

We are creating a comfortable working environment so that employees are highly motivated in their jobs.

while complying with the laws of each country. These include
programs such as paid leave for childbirth, childcare andnursing care as well as shortened work hours.

Success of a Diverse Workforce

Germany

Japan

1,876
SwedenUnited States

302
Czech Republic

16

8

Saudi Arabia

United ArabEmirates

China

73

66

The Netherlands Austria

10

33
Italy

9

14
Belgium

7

4

India

Total

2

1

1

Fair Evaluation and Diversity

United Kingdom Switzerland

2,422 employees

We ensure that all employees are fairly and equitably evaluatedwith respect to hiring and promotion, regardless of gender.
To improve the percentage of female managers in Group
companies in Japan, EIZO has formulated and released an“Action Plan for Promoting the Role of Women” and we areworking to improve the working environment so that female
employees can play leading roles in their workplaces. Our
plan incorporates measures such as dispatching female
employees to management training seminars conducted byoutside institutions and providing training for selected mid-level employees, active participation of female employees inrecruitment activities and consideration of a personnel systemthat takes into account diverse work styles.
▶N umber and Percentage of Female Managers (as of March 31, 2020)

Group total

19 (12.5%)

Overseas (10 companies)

16 (23.8%)

Japan (7 companies)

3 (3.6%)

Gover nance

Employment data can be found on page 70▶ Number of Employees by Region (as of March 31, 2020, this includes the average
number of temporary staff )Our Value

EIZO comprises 17 companies globally (as of August 2020)
and we harness the talents of our diverse workforce. While
respecting the human rights of each employee and promoting
a mutual understanding of different cultures, the entire
group strives to develop our business with a sense of unity.
Overseas group companies are led by local managers, and wepay careful consideration to the circumstances, cultures andcustoms of each country creating the most suitable working
environment.

VOICE

Marion Kammerer

Cor por ate
Over view

When I joined EIZO in 2007, I was very excited to see what it would be like working for EIZO. Since then, I
have had very positive experiences working as part of the large EIZO family, made of many nationalities,
races and genders.
Selling EIZO makes me proud because quality and reliability are so important, and our customers
know that too.

Broadminded Corporate Culture
We have been cultivating a free and open corporate culturethat encourages flexible and active communication between
departments. Open exchanges take place between EIZO
members regardless of position. Employees are encouraged
to freely voice their opinions and are given opportunities totake on challenges. Our broadminded corporate culture is oneof our strengths, which enables individual employees to fully
demonstrate their abilities and in turn allows us to provide
excellent products and services in addition to reforming ourinternal environment quickly.

Account Manager, Sales, EIZO GmbH

Developing Trust-Based Labor-Management Relations

Respect For Human Rights
To maintain our stance on unacceptable behavior such as
forced or child labor, discriminatory remarks or actions andsexual or power harassment we all strictly adhere to our“Principles of Conduct.” We also participate in the United
Nations Global Compact and RBA, which are guided by labor
principles laid out by the “International Labor Organization”

45

EIZO Integrated Report 2020

(ILO) “Declaration on Fundamental Principles and Rights at
Work.” We are committed to protecting and respecting humanrights within EIZO and our partners.

Mutual understanding is the cornerstone of labormanagement relations. In keeping with this fundamental
point, we encourage dialog between labor and management.
We have established a consultation conference and a labor

committee in each group company under the laws andspecific circumstances of each respective country. We takeadvantage of these opportunities to develop good labormanagement relationships.

For the United Nations Global Compact and the RBA, please see page 28

EIZO Integrated Report 202046

Creating an Environment for Employees to Demonstrate Their Abilities and Thrive

Cultivating the EIZO Mindset

Human Resource Development
We are developing personnel who share the “EIZO mindset” and thrive by upholding the EIZO commitment to creating the world’s best.

In fiscal year 2020, we planned and implemented the“Career Advanced Plan” as an educational program for
employees who have been with the company for at least five
years. We also place an emphasis on educating Managers tobolster their capabilities.
We organize training opportunities for the entire group,
including overseas group companies as well as for individuals
for developing the respective skills required by productdevelopment and sales operations. Moreover, we seek toraise skills by making use of on-the-job training and externalseminars.

◦EIZO United
Around 100 participants from Group Companies and EIZO
Authorized Distributors gather once a year at EIZO Corporation(Japan) to attend the “EIZO United” conference, where weshare our latest technologies, the status of sales in eachcountry, various initiatives and the overall product andbusiness direction. Not only does this deepen everyone’s
understanding of our future direction, it fosters a strong senseof unity in the group through mutual exchanges. This also
provides opportunities for employees in various departments
to present their department’s initiatives to cultivate a sense of
belonging to “One EIZO.”Our Str ateg y

EIZO in Japan strive to identify internal educational andtraining needs to organize diverse training and educational
programs. These include position and function specific training
as well as programs for acquiring knowledge in specialized
fields and human resource development. In fiscal year 2019, wedeveloped the “Career Development Plan,” which is designed
to cultivate operation execution capabilities, market sensitivity
and a global mindset, targeting employees in their first five
years. We sought to enhance employee skills through thiscomprehensive program, which includes on-the-job training at
departments, group-based training and sales training as well as
off-the-job training such as overseas internships.

Our Stor yEnhancing Education and Training

We are working to nurture and sharing the “EIZO mindset” of creating the “world’s best” to unite EIZO in creating and delivering stateof-the-art products and services to customers globally.

Our Value

Personnel Exchange within the GroupWe are encouraging personnel exchanges within the groupin which young engineers are dispatched for several years or
short-term training. These programs are intended to increase

the number of employees who can work effectively in different
cultures and manage technology from a global perspective as
well as to cultivate new technological expertise.

I participated in the overseas trainee program for three months in the United States and Europe.
Accompanying sales colleagues provided a valuable opportunity to engage directly with customers to see
how they actually used EIZO products and listen to their expectations. In addition, I was able to see with myown eyes how colleagues typically did business with customers and how they felt about EIZO products. The
experience was invaluable in helping me better understand differences in the various markets, workstyles
and cultures.

Product & Technology Manager, EIZO Inc.
(Seconded from EIZO Corporation)◦Global Meetings
We carry out a variety of meetings across EIZO every year.
These include global meetings for raising the level of quality
control throughout EIZO, a EURO Meeting for discussing sales
strategies within EIZO (in Europe), and other business unit
meetings.

◦Joint Participation in Trade Shows
EIZO participation in international trade shows includes
staff from the exhibiting company as well as from othergroup companies to share market information and conduct
coordinated global sales and development activities.

Cor por ate
Over view

Toru Ogura

Gover nance

VOICE

VOICE
I spent two weeks training in the development division at EIZO Corporation, Japan. The mutual exchange ofexperiences with our Japanese colleagues improved my engineering expertise. Getting to know each otherpersonally encourages cooperation and simplifies working together, especially in labor intense times. In orderto face global challenges in product development, we should generate more synergy in our company.

Michael SchultzEngineer, Mechanical Design &Infrastructure, EIZO GmbH47

EIZO Integrated Report 2020

In fiscal year 2020, we refrained from holding international meetings, including EIZO United and canceled our participation in trade shows to help prevent the spread of
COVID-19 and protect our employees. International meetings were held via teleconferencing and other means.

EIZO Integrated Report 2020

48

Creating an Environment for Employees to Demonstrate Their Abilities and Thrive

Activities for Safeguarding Employee Health

Providing a Safe Working Environment

Occupational Health and Safety Basic Policy◦Health Day (EIZO Europe GmbH, Germany)
We held a health event for employees with assistance ofexperts from external companies and medical institutions.
Employees became even more health-conscious throughactivities such as exercising, massage, self-examinations and byinteracting with experts.

◦Health Mobile (EIZO GmbH, Germany)
We conducted a health event in cooperation with a major
health insurance company in Germany. Employees checked
their stress levels, levels of nutrition, sleep using equipment
inside a camping car and received personal advice on daily
routines to improve their health.

Our Str ateg y

The EIZO Group will create workplaces where all members are able to work safely and in good health. We establishedthe following policies, endeavor to eradicate occupational incidents, and establish and implement activities
concerning occupational health and safety.
We therefore:

We actively pursue measures for safeguarding employee health and improving workplace environments. These include conducting
regular health checkups, follow-up guidance, mental stress checks and holding events for maintaining good employee health. For
staff who frequently work overtime, we provide one-on-one consultation and guidance to improve work processes and reduce mental
stress. In Japan, we also work to maintain employee mental health by assigning in-house staff as contact points for responding toemployee concerns and issues.

Our Stor y

To enable employees to work with energy and demonstrate their abilities clearly, it is important to create a workplace environment
in which they feel comfortable and can maintain sound physical and mental health. EIZO has established an “Occupational Healthand Safety Policy” under which we implement various initiatives.

1 Conduct periodic assessments to identify occupational health and safety risks and implement appropriate countermeasures.
2 Raise awareness of maintaining and improving physical, mental, and emotional health and continually improve the health andsafety of our members through on-going collaboration between the companies and its employees.
3 Establish an occupational health and safety management system and occupational health and safety goals, implement, review
and continually improve performance.

Our Value

4 Create opportunities for participation and consultation on occupational health and safety issues between members and thecompanies and ensure open communication between them.
5 Regularly educate members about occupational health and safety.
6 Comply with legal, moral and all other requirements regarding occupational health and safety.
7 Investigate and analyze the cause of any occupational accidents that may occurs and ensure corrective action is taken.
8 Prepare and provide training so that prompt measures are taken should an accident occur.

To consistently maintain and develop activities foroccupational health and safety, we have introduced an
occupational health and safety management system at EIZO
Corporation (Japan) and EIZO MS Corporation (Japan), which

account for approximately 80% of total EIZO production.
We promote health and safety activities that cover all
onsite staff based on this system, and have obtained theISO 45001 certification in 2019.

Gover nance

Promoting the Occupational Health and Safety Management System◦Anti-Smoking Activities (Globally)
All Group companies prohibit smoking inside company
facilities to prevent exposure to passive smoking. In addition,
EIZO (Japan) in April 2020 introduced a total ban on smoking
during working hours and on company premises.

Cor por ate
Over view

Risk Assessment and Prevention of Industrial Accidents
EIZO (Japan) seeks to educate employees and increase safety
awareness through periodic workplace patrols and hazard
prediction training. In addition, we strive to mitigate risks byapplying a risk assessment method to investigate potential
hazards and toxicity as well as implement countermeasures,assess the risks involved in handling chemical substances,

49

EIZO Integrated Report 2020

check targeted substances using safety data sheets andenforce the use of appropriate protective gear for onsite work.
Furthermore, we seek to prevent industrial accidents
at EIZO (Overseas) through initiatives such as organizing
employee training and distributing handbooks on industrial
accidents.

EIZO Integrated Report 2020

50

Strong Bonds of Trust with Our Stakeholders

Powerful Partnerships with Suppliers

Society

With respect to our suppliers, we are committed to forging relationships of trust based on mutual prosperity to build successful,long-term partnerships.

We sincerely seek to engage with stakeholders to forge
and maintain strong bonds of trust.

Partners in safeguarding quality

To ensure that customers are completely confident in their purchase and use of EIZO products, we cater to their diverse needs toforge solid, long-lasting relationships.

We offer workshops and seminars to help customers use our
products more effectively. For example, in the healthcare
market we hold seminars for hospital staff, during which we
explain how they use images in the medical field and theimportance of monitors and quality control. In this way we arealso contributing to the advancement of medical diagnosis.
In the Creative Work market, we host color management
seminars to support our customers who undertake highquality work creation with greater efficiency and quality.

Partners in CSR

such as send back or on-site repairs.
*Excluding some products. Some repairs within the warranty period are subject
to additional charges in accordance with the specific terms of the applicablewarranty.
For more information, please visit the EIZO website.

EIZO Integrated Report 2020

Please also see page 28 for information on the “Responsible Minerals Initiative.”

Fair and Equitable Transactions
The “EIZO Group Principles of Conduct” unequivocally prohibit offering or accepting entertainment, gifts or other benefits that violate
the law or deviate from generally accepted business practices. In addition to complying with the Principles of Conduct ourselves, weensure our suppliers share a common understanding with us.

Customer Feedback51

the use of specified minerals associated with illegal activity.
We also conduct annual onsite investigations to confirm all
specified minerals have been responsibly procured.

Cor por ate
Over view◦Participation in the Responsible Minerals Initiative
We are aware that we have a social responsibility to procureminerals responsibly and publish our Responsible Minerals
Policy online. Accordingly, we require all suppliers across ourentire supply chain to also pursue initiatives for eliminating

Gover nance

EIZO intends to fulfill our CSR across our entire supply chain by asking all business partners involved in procurement to actively
promote CSR activities, including compliance, respect for human rights, environmental preservation and safety and health. We
established the “EIZO Supplier Code of Conduct” in accordance with the “EIZO Group Principles of Conduct” and obtain “Supplier
Declarations” to ensure compliance from all our suppliers. Suppliers report on their level of compliance based on a self-assessment
and we undertake onsite audits as necessary.

Product Warranty for Peace of Mind

Customer inquiries and feedback received through a varietyof channels are quickly disseminated within EIZO to improve
product specifications and functions as well as our services byleveraging our integrated product development, production,
sales and customer support capabilities. Development staff
accompany sales representatives on visits to corporate
customers to listen directly to them so their requirements canbe promptly reflected in product development.

◦Supplier Audits
EIZO Technologies GmbH (Germany), which develops andproduces automobile and air traffic control monitors, annuallyassesses our suppliers and conduct factory audits as needed.
Our Value

Workshops and Seminars for Gaining the Full Benefit of Our Products◦EIZO Supplier Day (Japan)
We deal with a diverse array of suppliers in Japan, where 80%
of our production takes place. Materials procurement policy
briefings are held once a year with suppliers to explain andseek their cooperation with EIZO procurement policies aswell as our strategies and future initiatives amid the prevailingmarket environment.

Our Str ateg y

To create excellent products that satisfy our customers, we place high priority on controlling quality, delivery schedules and the cost ofcomponents and materials procured from suppliers as well as confirming that supplier operations are environmentally responsible. We
work fairly with all suppliers, setting selection standards based on such aspects as technological excellence, quality, supply capacity,
environmental preservation activities and legal compliance, selecting only suppliers who meet our standards. In addition, to safeguard
product and service quality, we share our management policies, technical strategies and current issues with suppliers during suchmeetings including “EIZO Supplier Day.” We take time to provide, and highly value regular information exchange opportunities.

Exceeding Customer Expectations

In addition to delivering highly reliable products, EIZO offers
monitors with long-term assurance through a five-year
warranty*. Customers can also choose from different repair
services depending on the product and user environment,

Our Stor yStrong Bonds of Trust with Our Stakeholders▶ Feedback System for all Types of Customer Input
Customer Liaison
EIZO Contact Center
Customer liaison
dedicated to ordering
Customer liaison fortechnical support
Showroom
Direct sales website
WebsiteCustomers

Distributors
Sales companies/Retail stores

EIZO Integrated Report 202052

Strong Bonds of Trust with Our Stakeholders

Community Engagement

We conduct SR and IR relations activities to promote a greater understanding among our shareholders and investors by providing
fair and accurate information on our management policies, business strategies, and financial performance.

EIZO Group companies aspire to help develop and invigorate local communities in their respective countries and contribute tocreating better environments as members of their communities through efforts that leverage the strengths of EIZO technologies
and products.

Information Disclosure Policy

Examples of EIZO Efforts
or valuable instruments” of the Tokyo Stock Exchange (TSE).
We strive to ensure any other material information that may
affect investment decisions are also delivered to all market
participants in an equitable manner.

EIZO Corporation (Japan)
We participated in the Kanazawa Marathon
as water supply volunteers to help invigorate
the event.
Other activities

Shareholder and Investor Engagement◦Company Presentation for Institutional Investors
We conduct briefings for institutional investors to report on
our earnings twice a year in Tokyo as well as actively organizing
individual meetings. In addition, investors are invited to join
factory tours to become more familiar with our operations andsee our strengths first-hand.
◦Company Presentation for Individual Investors
We also hold briefings for individual investors whenappropriate to explain our business environment, strategies
and initiatives in each market.

Other activities• S ponsorship of a local children soccer team and an
ice hockey team

EIZO Europe GmbH (Germany)

EIZO Limited (United Kingdom)

We donated money to Aktion Lichtblicke, anorganization which provides care to children
with serious illnesses and children in need offinancial support.

We continue to support the Sebastian’s
Action Trust, a charity that supports sickchildren and their families and participate as
volunteers in the trust’s activities

Other activities•D onated to organizations promoting the Pink
Ribbon Campaign

EIZO AG (Switzerland)
We donated money to Soup Day, an event
where soup is served at no cost to people
facing financial difficulties.

Other activities•D onated monitors for speech therapists at Magic
Words Therapy

Gover nance• Shareholder Round-Table Conference / Product Display
Informal round-table meetings are conducted withshareholders following every general shareholder meeting
to deepen their understanding of EIZO’s operations. The
President explains the company’s business environment,

strategies and initiatives in each market and directly responds
to shareholder comments and questions.

We donated money to the Christina
Bergmann Foundation, which supports
childhood cancer patients.

Our Value◦General Shareholders Meeting
We schedule our annual general shareholders meeting
while taking the convenience of shareholders into carefulconsideration by avoiding days on which many shareholders’meetings are held by other companies. Invitations are sent
far in advance to provide sufficient time for shareholders
to examine the proposed resolutions and the state of ouroperations, posting it on our website.

•C onducted free inspections of EIZO products
affected by natural disasters• E mployees voluntarily participate every year inlocal beach cleanups

EIZO Technologies GmbH (Germany)

Our Str ateg y

We disclose information in a timely and appropriate manner incompliance with the Financial Instruments and Exchange Act
and related regulations as well as the “Timely disclosure rules
and other regulations for issuers of listed negotiable securities

Our Stor y

Promotion of Shareholder and Investor Awareness

EIZO Nordic AB (Sweden)
Finance a book that is handed out at schools
to educate how to be respectful when
making comments online to avoid bullying/hatred online and in various social medias.

Other activities• Support of a child in a sports association for disabledchildren

We regularly invite blood donation
vehicles to park inside the company
grounds for employees to donate
blood.

Earnings Result Briefings

One-on-One Meetings

Company Tours and Exchange of Views

FY2017

Twice (total: 73 participants)

103 organizations

7 times (total: 35 participants)

FY2018

Twice (total: 91 participants)

111 organizations

6 times (total: 23 participants)

FY2019

Twice (total: 64 participants)

85 organizations

Once (total: 12 participants)

EIZO Integrated Report 2020

EIZO Inc. (United States)
We co-sponsored activities of Boys & Girls
Clubs of America, a non-profit organizationthat provides after-school programs for child.

EIZO Agency Corporation (Japan)▶ Meetings and Events for Institutional Investors

53

Cor por ate
Over view

EIZO Rugged Solutions Inc. (United States)

We continue to donate money to activities for supporting children andtheir families fighting incurable diseases such as childhood cancer, as well
as children who have either lost a parent to cancer or who have been
diagnosed with cancer.

EIZO Integrated Report 2020

54

Strong Bonds of Trust with Our Stakeholders

EIZO Pink Ribbon Day

Support for Medical Institutions Fighting the COVID-19 Pandemic
As COVID-19 developed into a global pandemic, EIZO took decisive action to meet the respective needs of our local communities
from the standpoint providing healthcare solutions and being committed to serving the local community.
Our Stor y

As a company providing solutions for breast cancer diagnosis, we feel it important to raise awareness of breast cancer, encourage
people to learn more about the disease and schedule screenings. We therefore organize an EIZO Pink Ribbon Day, when all
employees globally wear pink. We also sponsor academic conferences, other promotional activities for screening and provide
assistance to patients.

EIZO Limited (United Kingdom)

EIZO In

many)c. (Unit

Our Value

EIZO Europe GmbH (Ger◦Supported Manufacturing PPE Gowns
We partnered with Ms. Lynda Yong and the Frimley Health NHSFoundation Trust (FHFT, a foundation that operates hospitals)
to assist in the production of more than 8,000 medical grade
PPE gowns for National Health Service (NHS) staff. We also lentunused office floor in our building for use as gown productionlines.

Our Str ateg y◦Supported NHS Scrubs Production Services
We supported a project by Ms. Lynda Yong, the founder offashion brand Lynda Yong Couture, helping manufacture 2,000
scrubs for National Health Service (NHS) staff.

ed States))witzerland

EIZO AG (SEizo Display Technologies◦Donated Monitors for COVID-19 Diagnosis
We donated medical-grade monitors to a diagnosis center for
COVID-19 that had been set up in our community.

(Suzhou) Co., Ltd. (China)

EIZO Europe GmbH (Germany)◦Donation of Emergency Supplies to the German Red Cross
We supported the activities of theDeutsches Rotes Kreuz (DRK, the German
Red Cross) by donating EUR5,000 to fundthe procurement of emergency supplies
for combating the COVID-19 pandemic.

Cor por ate
Over view◦Contributed to the Stable Supply of Monitors in the
Healthcare Market
In response to rising demand for monitors used for lungultrasound, we have managed to procure parts under difficult
circumstances and increase our factory capacity.

Gover nance

EIZO GmbH (Germany)#füreinander

Spende Fürsorge mit deinem

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EIZO Corporation (Japan)

EIZO Corporation (Japan)

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EIZO Integrated Report 2020

EIZO Lim

ited (United Kin

gdom)◦Donation of EIZO Designed Face Shields
We designed face shields
that provide airtight defense
against airborne infections
based on the advice of medical
professionals in the field anddonated them to several
medical institutions in theregion.

EIZO Integrated Report 2020

56

Corporate Governance

Board Members

EIZO’s Approach to Corporate Governance5

Our Stor y

7

We strive to be a company that builds and maintains relationships of trust with stakeholders who support us and that
continuously enhances its corporate value. To this end, ensuring sound, transparent, and efficient management is essential.
Therefore, we position the ongoing enhancement of corporate governance as a vital management concern.

6

4

2

1

3
Our Str ateg y

Overview of the Corporate Governance System
In June 2016, we adopted the organizational design of a Company with Audit and Supervisory Committee. With this structure,
we have worked to accelerate decision-making, strengthen the execution of operations and, with the active participation of
independent external directors, improved transparency of the audit and supervisory functions of the Board of Directors and corporate
management.
Shareholders’ Meeting
Election/Dismissal

Election/Dismissal

Election/Dismissal

Board of Directors

Audit and Supervisory Committee

Auditing/
Supervision

Cooperation

Consultation

ReportAppointment/Dismissal
Instruction/Supervision

Yoshitaka Jitsumori
President & CEO

President & CEO
Instruction

Cooperation

Internal Auditing
Dept.

◦Remuneration Advisory Committee
A Remuneration Advisory Committee (an optional committee)
was established as an advisory body to the Board of Directors
in order to ensure transparency and objectivity of Executive
remuneration. It deliberates and makes recommendations on
the system and the amounts of remuneration for Executives(excluding Directors serving as Audit and Supervisory
Committee Members).
EIZO Integrated Report 2020

Instruction/Supervision

Departments/ Group Companies
Internal Auditing

Worked at Murata Europe Management GmbH (currently Murata Electronics
Europe B.V.) as a Geschäftsführer before joining EIZO as an Executive Director
in May 1994. Served as Senior Executive Director and Executive Vice President
before being appointed President & CEO (current position).

100%

Yuichi Murai
Director, Senior Executive
Operating Officer

Joined EIZO in March 1979. Served as Senior Manager of the General Affairs
and Human Resources Departments, Director and Operating Officer, andExecutive Operating Officer before being appointed Director and Senior
Executive Operating Officer in June 2016 (current position).

100%

Served as the head of Accounting & Finance at Murata Manufacturing Co., Ltd.
before joining EIZO in December 1997 as Senior Executive Director. Served as
Executive Vice President & CFO before being appointed Director and Senior
Advisor in June 2016 (current position).

100%

Served as Managing Executive Officer at Mizuho Bank, Ltd., Senior Managing
Executive Officer at NIPPON TOCHI-TATEMONO Co., Ltd. and Managing
Director at Hokuetsu Pulp Co., Ltd., before joining EIZO as External Director in
June 2012. Appointed External Director serving as an Audit and Supervisory
Committee Member in June 2016 (current position).

100%(100%)

Joined EIZO in March 1982. Served as Senior Manager of the Accounting &Finance and General Affairs Departments, Operating Officer and Director ofa group company before being appointed Director serving as an Audit andSupervisory Committee Member in June 2016 (current position).

100%(100%)

Served as Director, Senior Executive Vice President and Executive Counsellor
at Murata Manufacturing Co., Ltd. before being appointed External Corporate
Auditor at EIZO. Appointed External Director serving as an Audit andSupervisory Committee Member in June 2016 (current position).

100%(100%)●●●

Served as Managing Executive Officer of Hokuriku Bank Ltd. before being
appointed External Director serving as an Audit and Supervisory Committee
Member in June 2018 (current position).

100%(100%)●●●

Audit and Remuneration
Independent
Supervisory
Advisory
Director
Committee
Committee●

Internal Director
Independent
External Director

Tsutomu Tanabe

Chairperson

Director, Senior Advisor◦Management Committee
The Management Committee is mainly composed of internal
directors and operating officers and is convened to accelerate
strategic decision-making, respond to important issues, anddeliberate or report on the status of operations and othermatters. In addition to reporting on monthly consolidated
business performance, it meets in a timely manner to ensure
agile management.
◦Operating Officer
We have appointed Operating Officers to separate
management supervision from operational execution andexpedite implementation.
Note: As of July 1, 2020, there are ten Operating Officers in addition to one
Director who concurrently serves as an Operating Officer.

◦Internal Auditing System
Our Internal Auditing Department carries out internal audits
based on the “Basic Annual Audit Plan,” established inaccordance with our audit policies and reports the results to
our President & CEO.

Masaaki Suzuki
External Director(Member of the Audit andSupervisory Committee)

Kazuhiko Deminami
Director(Member of the Audit andSupervisory Committee)

Atsushi Inoue
External Director(Member of the Audit andSupervisory Committee)

Hiroji Takino
External Director(Member of the Audit andSupervisory Committee)

●

●

●

●

Chairperson

Chairperson

Cor por ate
Over view◦Audit and Supervisory Committee
The Audit and Supervisory Committee, in accordance with its
audit policy and plans, audits and supervises the conduct of
the Directors by attending the Board of Directors and otherimportant meetings, and examines corporate operations andassets.

Management
Committee
Instruction/Supervision

Operating Officers
Report◦Board of Directors
The Board of Directors deliberates on key management
decisions and periodically reports on the status of operational
execution. Members engage in lively discussions for decisionmaking and reinforce the supervisory function for management.

57

ReportInstruction

InspectionofAccounts

Accounting Auditor(Deloitte Touche Tohmatsu LLC)

ReportAttendance at Board of
Directors Meeting(Audit and Supervisory
Committee Meetings)

Gover nance

Remuneration Advisory Committee

ReportCareer Summary

Board Members

Name

Recommendation

Our Value

1 Yoshitaka Jitsumori 2 Yuichi Murai
3 Tsutomu Tanabe
4 Masaaki Suzuki
5 Kazuhiko Deminami 6 Atsushi Inoue
7 Hiroji Takino▶C orporate Governance System●
Full-time*External Director Hiroji Takino also serves as President & CEO of Hokutate Co., Ltd., with which EIZO has no special interests.

EIZO Integrated Report 202058

Corporate GovernanceEvaluation of Board of Directors EffectivenessWe will continue to address changes in society and thebusiness environment while optimizing our governancesystem based on decisions made through active discussions.

VOICE“Open” Board of Directors

Masaaki Suzuki

EIZO on a sustainable basis over the medium to long-term

2 Role in fulfilling our corporate social responsibility

3 Our management environment, business performance, and stateof progress in the execution of operations

4 Retention of human resources with excellent management skills
5 Nature and scope of our businessDirector remuneration is composed of two components:
a fixed amount and a performance-based remuneration.
The fixed portion for each Director is determined with due
consideration of their duties and performance. Performancebased remuneration is paid to Directors responsible for▶O verview of Director Remuneration

Directors Serving as Audit and Supervisory Committee Members

Upper limit of remuneration(Approved at the 49th Ordinary
General Meeting of Shareholders,June 23, 2016)

JPY350 million p.a., including performance-based
remuneration calculated as 2% of Consolidated Operating
Income for each fiscal year up to JPY200 million

JPY50 million p.a.

Decision-making body on
remuneration

Board of Directors
Pending deliberation and recommendations by the
Remuneration Advisory Committee

Audit and Supervisory
Committee

Number of eligible Directors

3

4

3

Total amount of remuneration(FY2019)

JPY154 million

JPY32 million

JPY17 million

Fixed remuneration

JPY83 million

JPY32 million

JPY17 million

Performance-based
remuneration

JPY71 million––

Note: Reasons for appointing individual Directors are disclosed within the
Reference Documents for the Ordinary General Meeting of Shareholders,
where they will be presented for approval.
Notice of Convocation of General Meeting of Shareholders
https://www.eizoglobal.com/ir/meeting/

59

Name

Additional Information Regarding Independence

MasaakiSuzuki

While Mr. Masaaki Suzuki has been employed by Mizuho Bank, Ltd. in the past, we do not believe it will adversely affect his independence in view of thefact that our borrowing from Mizuho Bank, Ltd. as of March 31, 2020 accounted for less than 0.5% of our total assets on a consolidated basis and does not
significantly impact our financing.

Atsushi
Inoue

While Mr. Atsushi Inoue has been employed by Murata Manufacturing Co., Ltd., one of our parts suppliers, we do not believe it will adversely affect his
independence in view of the fact that the volume of business transactions between Murata Manufacturing Co., Ltd. and EIZO Corporation for FY2019
accounted for less than 0.1% of each of the two companies’ total sales on a consolidated basis.

HirojiTakinoWhile Mr. Hiroji Takino has been employed by Hokuriku Bank, Ltd., we do not believe it will adversely affect his independence in view of the fact that ourborrowing from Hokuriku Bank, Ltd. as of March 31, 2020 accounted for less than 1.0% of our total assets on a consolidated basis and does not significantly
impact our financing.

EIZO Integrated Report 2020

◦Performance-Based Remuneration
EIZO pays a performance-based remuneration as a short-term incentive to two Directors responsible for executing operations. The
amount is calculated as follows.
Performance-based
remuneration for each Director▶ Independence of External Directors

External Directors

Cor por ate
Over view

Individuals with proven ability and experience in corporate
management, along with excellent character and insight, areappointed as candidates for EIZO Directors. In addition to thesequalities, each candidate for External Director must also fulfill
EIZO’s “Independence Standards for External Directors” and be
capable of auditing and supervising company management
and execution of operations from diverse perspectives.

Gover nanceDirectors(Excluding Audit and Supervisory Committee Members)

External Director, Chairperson of the Audit
and Supervisory Committee

Policy and Procedures for Appointing Directors◦Procedures
EIZO established its Remuneration Advisory Committee(January 31, 2020) to ensure transparency and objectivity inmaking decisions on the remuneration system and amount for
Directors.
The remuneration system, method of calculation, andamount for Directors (excluding Audit and Supervisory
Committee Members) are decided by the Board of Directors
based on deliberations with and recommendations of theRemuneration Advisory Committee.
The Audit and Supervisory Committee holds discussions
on the remuneration system, method of calculation, andamount for its members.

Our Value

Meetings are attended by the seven Directors as well as all Operating Officers and Presidents of groupcompanies in Japan. EIZO’s board provides a key forum for open and lively discussions, during which
important management concerns are deliberated on and decisions are made in a timely manner thatfacilitates the agile execution of operations.

1 Motivation for enhancing the corporate value and growth ofexecuting operations and is calculated based on Consolidated
Operating Income.

Our Str ateg y• Diversity of personnel composition, knowledge and experience ofeach Director• Frequency of meetings and time allocated for deliberation• Legislative process• Advanced distribution of materials and information to determine
content appropriateness• Content of discussions• External Director understanding of corporate activities andcommunication with management◦Basic Policy
With regard to Director remuneration, EIZO follows its basic
policy of designing a well-balanced system for paying
remuneration within the amount approved at the General
Meeting of Shareholders by considering the following points.

Our Stor y

The Board of Directors annually evaluates its entire effectivenessin order to continuously improve key management approval
processes and operational execution supervision.
In fiscal year 2019, we examined the following matters andconfirmed that adequate effectiveness was achieved.

Policy and Procedures for Director Remuneration=

Consolidated Operating Income forthe fiscal year under review

× 2% ×Rank-based points given to each Directorin accordance with internal regulations

Note that performance-based remuneration is not paid under the following conditions.
1. When the Consolidated Operating Income Margin is less than 2%.
2. When the Consolidated Net Income amount is less than JPY1 billion.
◦OtherIn addition to the above-mentioned remuneration system, internal Directors pay a certain amount from their fixed remunerationeach month to purchase EIZO Corporation stock, which they continue to own during their term in office, with the aim of providing
motivation for enhancing corporate value from a longer-term perspective.

EIZO Integrated Report 2020

60

Corporate Governance

Cross-Shareholding
Going forward, we will continue to verify rationality andappropriately manage strategically held shares.
▶ Status of Stock Ownership (as of March 31, 2020)

NumberBalance Sheet

Unlisted Stock

4 Companies

JPY43 million

Listed Stock

22 Companies

JPY11,926 million

Internal Control*“Basic Policy on Internal Control System” is disclosed in the Corporate
Governance Report and other reports (Japanese only).

Discussion Between Group Companies

Management
Committee
Risk Management Committee◦Risk Management System
We established the “Risk Management Committee” inaccordance with the “Basic Regulations on Risk Management.”
The committee discusses risks compiled and analyzed byeach department to consider countermeasures and report on
progress. Any risk that may have a particularly severe impact on
our business is identified as a material risk by the Management
Committee, and appropriate countermeasures are discussed
and implemented.
◦Business Continuity Plan (BCP)
In proactive preparation of material incidents such as natural
disaster we have formulated and thoroughly disseminateda BCP throughout the company. In particular, our Disaster
Response BCP stipulates procedures for confirming employee
safety and facilitating necessary rescue operations in theimmediate aftermath of a natural disaster and, within one
month, restoring critical operations and resuming the supply ofour products.
Natural disasters such as typhoons, heavy rain, andunexpected situations such as infectious diseases may
complicate material procurement. To address these risks, we
strategically secure inventory of parts and select alternative
parts at the design stage.

Chairperson

Director of General Affairs

Secretariat

Committee

General Affairs
Dept. & Others

All Operating Officers
Presidents of Group Companies in Japan

Each Department◦Information Security
To ensure proper handling of confidential and personal
information, we established and have implemented regulations
on information security. In addition to organizational, physical,
and technological countermeasures, we have set up a dedicatedcontact point to deal with information leaks and other incidents
to further reinforce our information security system.
Aggressive regulations to protect personal information
are in effect, and we take proactive measures to adhere tothem, including employee training in response to the General
Data Protection Regulation (GDPR) (Europe) and the California
Consumer Privacy Act (CCPA) (United States). In Japan, we arestrengthening our efforts to protect personal information andhave obtained JIS Q 15001 (Privacy Mark) certification.

Cor por ate
Over view

EIZO Group Companies communicate with each other regularly by functions such as development and sales.
In addition, we share management strategies at an annual budget meeting, during which top managements from each company gather at theheadquarters to engage in frank and enthusiastic discussions. At the meeting, they also present fiscal plans for their particular company andengage in discussions with top management of EIZO Corporation and other group companies on various topics from market development andproduct strategy to investment in human resources. In this way, we are strengthening the EIZO business worldwide as “One EIZO.”

Gover nance

COLUMN

Chief Risk Management Officer (President & CEO)Our Value

We have the “Basic Policy on Internal Control System”* in orderto ensure that Directors execute their tasks in compliancewith laws and regulations and the Articles of Incorporation,and ensure the appropriateness of other business operations.
We manage an internal control system under the Policy.
In addition, we have built and are operating an internal
control system for financial reporting based on the Financial
Instruments and Exchange Act.

▶R
 isk Management Committee Organizational Chart

Our Str ateg y◦Criteria for Exercising Voting Rights
We properly exercise our voting rights on strategically held
shares after closely examining the management policy,
business performance, agenda and other aspects of eachcompany to determine whether or not they contribute toincreasing shareholder value over the medium to long-term.

◦Corporate Policy
As a group pursuing global operations in the VUCA age, risks
are managed by the headquarters through an integrated,centralized system to enhance corporate value by
appropriately addressing risks that are growing in diversity,
scope, and speed.

Our Stor y◦Corporate Policy
EIZO will hold shares of a business partner only when beneficial
to maintaining favorable business relations, encouraging
long-standing trust and enhancing corporate value over the
medium to long-term.
In accordance with this policy, the Board of Directors
conducts an annual review to verify the rationality ofownership with respect to each company stock and decide
whether we should continue to hold or sell.
We determine the rationality of owning stock from acomprehensive standpoint and by examining qualitative
aspects, such as the purpose of ownership and calculating thequantitative benefits, such as transaction volume, stock price,
and dividends in order to verify whether they justify capital
investment.

Risk Management

COLUMN
Response to COVID-19

Budget Meeting

61

EIZO Integrated Report 2020

Measures to Prevent Infections in the Workplace

Impact on Business Activities

We have implemented the following measures globally.
• Restrictions on business travel and visitors since mid-February 2020

We have provided a stable supply of products and services
throughout the spread of the pandemic.

• Implemented teleworking and shift work

• Maintained operations at all EIZO production sites (7 in total globally)• Thorough changes in flow lines, hygiene measures, and social
distancing in all buildings such as warehouses, canteens, andoffices• Realized stable material procurement despite the impact on global
supply chains

As of July 31, 2020

Separate meetings on specific topics are also held frequently.

EIZO Integrated Report 202062Corporate GovernanceCorporate Information
Corporate Profile and Stock Information (as of March 31, 2020)

Compliance*Please refer to our website for the full text of the “EIZO Group Principles ofConduct.”◦Compliance Management System
We established the “Compliance Committee” in accordancewith our “Regulations on Compliance” to continuously improve
activities by following PDCA cycles in order to formulate
our annual plan, promote our activities, and assess our own
performance.

▶ Online Education Participants (FY2019)
Compliance Committee
Chairperson

Chief Compliance Officer (Director of General Affairs)

Secretariat

Heads of Functional Departments
Responsible Directors at Group Companies in Japan

Each Department

1,184

EIZO Group Companies (Overseas)

281

March 1968

CapitalJPY 4,425 million

Head Office

153 Shimokashiwano, Hakusan, Ishikawa
924-8566, Japan
Phone: +81-76-275-4121
https://www.eizoglobal.com/

Business Locationsin Japan

Sapporo, Sendai, Tokyo, Nagoya, Ishikawa, Osaka,
Hiroshima, Takamatsu, Fukuoka

Number of
Employees

Consolidated: 2,422*
Non-consolidated: 1,031**Including average number of temporary staff

Business Activities

Development, design, manufacture, and salesof visual display systems, amusement monitors,
and related services

Fiscal Term

April 1–March 31 (Ordinary General Meeting of
Shareholders : June)▶ Distribution of Shares by Shareholder Type
National and local governments

Securities companies

0.5%

2.5%
Treasury stock

Number of Shares
Authorized

65,000,000 shares

6.2%

Number of Shares
Issued22,731,160 shares(including 1,410,769 shares of treasury stock)

Foreign investors

Number of
Shareholders

5,543

Stock ListingFirst Section of Tokyo Stock Exchange(Securities Code: 6737)

Financial institutions

34.0%

18.1%
Individuals and others

Other companies

18.2%

20.5%

Shareholder Registrar Sumitomo Mitsui Trust Bank, Limited
Accounting Auditor

Deloitte Touche Tohmatsu LLC

Major Shareholders
Name

Number of Shares Held(thousand shares)

Cor por ate
Over view◦Internal Whistle-Blowing System
In accordance with “Regulations on Internal Whistle-Blowing,”
we have established internal whistle-blowing systems in all ourgroup companies. Also, we strive to ensure the early detection
and prevention of serious incidents that could damage
corporate value, such as illegal activity or misconduct.
Contact points have been set up inside the company
and at independent law firms to provide consultation
regarding laws and ethical business matters. All EIZO members
are expected to report any questions or activities that arein violation of laws immediately, regardless of their own
involvement. We ensure that the privacy of the whistle-blower
is protected and that the individual will not be placed at any
disadvantage for reporting the violation.

Established

Gover nanceMembers

General Affairs
Dept.

EIZO Group Companies (Japan)

EIZO Corporation

Our Value▶ Compliance Committee Organizational Chart

Trade Name

Our Str ateg y

EIZO Group Principles of Conduct
https://www.eizoglobal.com/company/information/conduct/◦Compliance Training
As a group engaged in global operations, we must pay
the utmost attention to Japanese and overseas laws andregulations, which are becoming increasingly borderless andcomplex year by year. We monitor local trends by regularly
exchanging opinions with all group companies and provide
appropriate training.
In Japan, we encourage executives and employees to
update their knowledge of relevant laws and regulations oncompliance by offering information through intranet articles
and educational materials posted by the relevant departments.
We organize regular study groups for each department andworkshops for each job position, such as for executives,
managers, and new employees, so they can develop theknowledge they need, and we provide online educational tools
to confirm their progress.
We will continue to ensure that all group members are
fully aware of the necessity and importance of compliancewhile also cultivating an ethical mindset.

Our Stor y◦Corporate Policy
We established the “EIZO Group Principles of Conduct”* toguide our business decisions and actions toward achieving
our corporate philosophy of “enriching future society throughimaging solutions” as we promised stakeholders. We seek
to instill a thorough awareness of the Principles of Conduct
among all our executives and employees globally.

Shareholding
Percentage* (%)

Japan Trustee Services Bank, Ltd. (Trust Account)

2,102

9.86

The Master Trust Bank of Japan, Ltd. (Trust Account)

1,784

8.37

The Hokuriku Bank, Ltd.

836

3.93

The Hokkoku Bank, Ltd.

794

3.73

Hiroshi Murata

670

3.15

Hiroaki Corporation, Ltd.

567

2.66

Hazuki Corporation, Ltd.

567

2.66

Kanto Local Finance Bureau

559

2.62

EIZO Employee Shareholding Association

438

2.06

BBH (LUX) FOR FIDELITY FUNDS-JAPAN AGGRESSIVE

437

2.05

*Treasury stock (1,410,769 shares) was excluded for the calculation of shareholding percentages.

63

EIZO Integrated Report 2020

EIZO Integrated Report 2020

64

Corporate Information

Group Companies
Name and Location

Main Business Activities

Certifications

Representatives

Manufacturing, R&D, Sales and Marketing Companies◦EIZO GmbH
(Rülzheim, Germany)

Development, manufacture and sales ofvisual products and related products for
the Healthcare market◦EIZO Technologies GmbH
(Geretsried, Germany)

ISO 9001, ISO 13485,
ISO 14001

Peter Ziegler
President & CEO

Development, manufacture and sales ofvisual products for the V&S market andcontrol boards

ISO 9001, ISO 14001

Andy Kürz
President & CEO◦EIZO Rugged Solutions Inc.
(Altamonte Springs, FL, U.S.A.)

Development, manufacture and sales ofgraphics board and other components
for the V&S market

ISO 9001

Selwyn Henriques
President & CEO◦EIZO Display Technologies (Suzhou)Co., Ltd. (Suzhou, China)

Development, manufacture and sales ofvisual products and related products

ISO 9001, ISO 13485,
ISO 14001

Rujun Zhang
President & COO◦EIZO Inc.
(Cypress, CA, U.S.A.)

Sales of visual products and related
products

ISO 9001, ISO 13485

Thomas Waletzki
President & CEO◦EIZO Nordic AB(Väsby, Sweden)

Sales of visual products and related
products

Per Hertz
Managing Director& CEO◦EIZO AG
(Wädenswil, Switzerland)

Sales of visual products and related
products

Walter Briccos
President & CEO◦EIZO Limited(Ascot, U.K.)

Sales of visual products and related
products

Colin Woodley
Managing Director& CEO◦EIZO Europe GmbH
(Mönchengladbach, Germany)

Sales of visual products and related
products

Minoru Kontani
Executive Vice President& COO◦EIZO Saudi Arabia Regional Sales Office(Riyadh, Saudi Arabia)

Sales of visual products and related
products

Sami M. Alshehri
Country Manager

We intend to improve profitability by aggressively investing in highly profitable growth areas to expand businesses in specific markets. This
will in turn, lead to higher ROE. We are making necessary investments to consistently achieve our target of more than 10% in operating profit
margin on a sustainable basis. In addition, we will draw on our stable financial base, which is one of our strengths to secure the necessary
funds for business operations and growth investment.

Approach to Financial Capital Allocation

Financial Capital

Pursue agile management and address business risks by drawing on our stable financial base, one of our strengths.

Business Funds

Inventory funds:
In EIZO’s highly competitive business domain, stable long-term supply constitutes
a source of competitive advantage. Maintain strategic inventory to ensure a supply
capacity to meet demand, particularly from the Healthcare and V&S markets.
Implement an integrated sales strategy based on a direct sales system in which over
90% of overseas sales are covered by EIZO Group companies. Maintain local inventory
to flexibly supply products to customers. This will contribute to expanding overseas
business.

Sales and Marketing Companies

Gover nance

Shareholder Return

Our Value

Growth Investment

Aggressively invest in growth areas.
Deepen existing business areas, expand business regions outside Japan and Europe,and create new markets.
Capital investment: Invested JPY4 billion annually focusing on the Healthcare andV&S markets for the past two consecutive years. Continue investing in growth areas infiscal year 2020.
R&D investment: Development of new products, development of elemental
technologies and enhancing technologies and skills.
M&A investment: Implement M&A necessary for business expansion.

Our Str ateg yOverseas

Drawing on Our Stable Financial Base to Achieve Sustainable Growth by Aggressively Investing in Promising Areas

Aim to achieve a total return ratio of 40−50%.

Retained Earnings and Shareholder Returns■ Shareholder Return Policy

Cor por ate
Over view

Our policy is to continuously pay stable dividends in accordance with the company’s growth. We return profit to shareholders in theform of dividends and share buybacks on the basis of an overall consideration of securing retained profit for capital investments andR&D expenditures required for business expansion. Our target shareholder return ratio (total return ratio) is 40−50% of consolidated
net income.
(JPY)

Domestic

120

Group Companies◦EIZO MS Corporation(Hakui, Ishikawa)

Manufacture of visual products andelectronic circuit boards

ISO 9001, ISO 14001,
ISO 45001, ISO 50001

Yoshitaka Jitsumori
President & CEO■ Interim dividend■ Year-end dividend

80

70
55

◦Irem Software Engineering Inc.
(Chiyoda, Tokyo)

After-sales service for visual products◦Carina System Co., Ltd.
(Kobe, Hyogo)

Development and sales of hardware andsoftware, including optical equipment
and visual recording and distribution
systems for the Healthcare market◦Two other companies

65

EIZO Integrated Report 2020

Masaki Ono
President & CEO

Development and sales of amusement
software◦EIZO Support Network Corporation(Hakusan, Ishikawa)

Our Stor yOverseas

Financial Information

ISO 13485

Yoshitaka Jitsumori
President & CEO

Mutsuo Kotoh
President & CEO

40

30
15

20

40

40
40

40

50

25

25

25

25

55
30

60
30

40

35

45

40

45

50

55

35

25

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019
(FY)

41.0

229.7

22.6

31.5

67.5

66.7

21.6

38.5

35.5

30.1

26.9

49.5

50.2

41.0

375.2

22.6

31.5

168.0

66.7

21.6

38.5

35.5

30.1

26.9

49.5

50.2

9.5

14.4

17.5

20.6

9.5

14.4

17.5

20.6

11.3

50

25

2007

Shareholder
return ratio
(%)

50

55

25

2006

11.3

50

50

25

2005

Dividend
payout ratio
(%)

70

90

25

2004

2003

80

110

30

25

15

30

40

30

10

70

30

25

7.5
7.5
2002

0

80

100

*The shareholder return ratio reflects the share buybacks totaling JPY996 million in fiscal year 2008 and JPY1,661 million in fiscal year 2011.

EIZO Integrated Report 202066

Corporate Information

Consolidated Financial Data
(JPY million)

Fiscal Year

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

(USD thousand)2019*377,52565,20459,55958,27073,641

72,57674,87878,28484,057

72,94476,480708,154

Operating income

9,026

5,150

4,404

2,056

6,833

4,472

5,081

7,033

8,554

5,370

6,441

59,643

Profit attributable to owners of parent

4,928

3,547

1,636

1,598

5,437

3,321

4,202

5,661

7,138

4,308

4,671

43,257

Research and development expenses

4,726

5,208

5,311

5,323

5,797

6,049

5,387

5,625

5,908

5,932

5,993

55,498

CAPEX

1,019

1,236

1,510

2,115

1,383

1,414

4,814

2,512

2,163

4,125

4,346

40,249Depreciation

1,915

1,514

1,422

1,353

1,687

2,017

2,052

2,367

2,604

2,751

2,986

27,657

Total assets

75,36977,432

77,032

79,367

92,931

106,519

104,792

115,160

119,497

121,423

125,284

1,160,043

Shareholders’ equity

56,484

59,21057,67861,431

69,201

79,29378,011

85,28091,521

94,924

95,979888,700

Our Str ateg y

Net sales

Our Stor y

Financial Results

Financial Status

Cash Flows
11,046

5,100(2,736)

2,137

4,685

1,445

6,772

10,533

4,829

5,348

8,157

75,537

Investing activities(950)(1,122)679(2,191)(1,208)(3,426)(3,033)(4,157)(6,567)(8,713)(3,717)(34,419)

Financing activities(1,227)(1,116)(2,776)(1,067)(1,066)923(1,386)(1,598)(2,772)(796)(2,433)(22,531)

Net increase (decrease) in cash and cash equivalents

8,871

2,832

(4,877)

(576)

2,942

(1,057)

2,198

4,573

(4,399)(4,295)

1,842

17,063

Cash and cash equivalents, end of year

18,75921,591

16,714

16,13819,08018,022

20,221

24,794

20,39416,09917,942

166,131

Our Value

Operating activities

Per Share Information
220.79158.93

74.08

74.96

255.05155.80197.10265.54334.82202.09219.132.02 USD

Book value per share (BPS) (JPY)

2,530.52

2,652.64

2,705.24

2,881.26

3,245.70

3,719.08

3,658.95

3,999.89

4,292.63

4,452.27

4,501.78

41.68 USD

Cash dividends per share (JPY)

50

50

50

50

55

60

70

80

90

100

110

1.01 USD

Total payout ratio (%)*

22.6

31.5

168.0

66.7

21.6

38.5

35.5

30.1

26.9

49.5

50.2

Operating margin (%)

11.6

7.9

7.4

3.5

9.3

6.2

6.8

9.0

10.2

7.4

8.4

ROE (%)

9.2

6.1

2.8

2.7

8.3

4.5

5.3

6.9

8.1

4.6

4.9

1

Gover nance

Earnings per share (EPS) (JPY)

Financial Indicators

12.9

6.9

5.8

4.0

9.3

4.7

5.4

6.5

8.1

4.7

5.3

EBITDA

10,575

7,787

5,119

4,247

9,702

6,723

7,753

9,474

12,113

8,465

9,442

74.9

76.5

74.9

77.4

74.5

74.4

74.4

74.1

76.6

78.2

76.6

USD/JPY

92.90

85.75

79.08

82.92

100.17109.76120.16108.34110.85110.93108.70EUR/JPY

131.19113.15109.04106.78134.22138.69132.60118.74129.66128.45120.81Business & Plus (B&P)

9,504

13,777

15,585

17,991

16,822

18,111

17,787

16,409151,939

Healthcare

16,554

21,632

20,793

23,40826,09729,78030,40829,390272,130

Creative Work

4,171

5,212

5,548

6,355

5,470

5,749

5,971

5,345

49,496Equity ratio (%)

Cor por ate
Over view

ROA (%)

Exchange Rate (Average for Period)

Net Sales Information by Market*2

Vertical & Specific (V&S)

3,659

5,083

6,649

6,870

6,956

7,885

7,419

10,40396,326

Amusement

18,074

21,96615,127

15,27918,40815,233

8,583

9,607

88,961

Other

6,305

5,969

8,872

4,973

4,527

7,297

2,772

5,324

49,299Total

58,27073,641

72,57674,87878,28484,057

72,94476,480708,154*1 Total payout ratio for fiscal year 2011 includes JPY 1,661 million in share buybacks.
*2 No figures on net sales by market exist prior to fiscal year 2011. Figures for fiscal year 2012 to fiscal year 2016 are net sales previously categorized by product that have been reorganizedaccording to the current market category.
*3 The translations of Japanese yen amounts into U.S. dollar amounts are included solely for the convenience of readers outside Japan and have been made at the rate of ¥108 to $1, theapproximate rate of exchange at March 31, 2020.

67

EIZO Integrated Report 2020

EIZO Integrated Report 202068

Corporate Information

Performance Data
Social Data

◦Overview of the Environmental Impact◦Customer Relations◦Human Resources▶ I nquiries Received by the Contact Center in Japan▶E
 mployees Data (as of March 31, 2020, Not Including Temporary▶E nvironmental Impact by Area

Hakui

Nanao

EIZO Display
Technologies (Suzhou)Co., Ltd. (China)

Development
and Manufacturing of
Monitors

Production of
Circuit Boards

Assembly of
Monitors

Development andManufacturingof Monitors

57,276

31,334

EIZO Corporation
Headquarters (Japan)

Area

Operations
Energy usage (GJ)

7,908

EIZO GmbH(Germany)

EIZO Technologies
GmbH (Germany)

Development andManufacturingof Monitors

Development andManufacturing of
Monitors

1,790

7,642

Total

Company and stock

314.3

79.3

17.9

44.8

27.6

108,700
1,011.5

Energy Resources

4.4

—

—

—

—

—

4.4

107.2

—

—

—

—

—

107.2

Compressed air(10,000 m3)

—

—

—

—

0.7

—

0.7

District heating(10,000 kwh)

—

—

—

—

87.9

—

87.9

Copier paper (kg)

3,937

956

120

351

1,620

—

6,984

Water usage (m3)

19,046

3,056

3,284

836

1,289

—

27,511CO2 emissions (t- CO2)

2,708

1,325

357

112

293

115

4,910

LPG (t)

41.4

102.8

—

35.4

22.2

Orders/Sales
service-related

41.0 %

542

1,720

2,262

356 (51)915 (81)

1,271 (132)

Female186 (16)805 (3)991 (19)

Average age

44.4

40.0

41.1

Average length of service

12.0

13.9

13.4

13.8 %

Note: Figures in parentheses indicate numbers of management-level employees.

▶N umber of Full-Time Employment (EIZO Group Companies in Japan)

10.7 %
Product compatibility

Total

Consulting/
Product overview

FY2017
New graduates

21.1 %

Mid-career

FY2019FY2018343943

37 (52.1%)

83 (68.0%)

54 (55.7%)

410.4

Total

71

122

97

New hire turnover rate(within the first year)

2.94

2.56

2.12

General waste (t)

10.8

2.2

1.5

—

1.0

—

15.5

Wastepaper (t)

265.9

67.7

168.2

—

27.5

16.6

545.9

Our Value

Waste

208.6

Industrial waste (t)6.4 %Functions/Operational procedures

Japan

Male

5.7 %
Troubleshooting

Overseas

Number of employees

1.2 %Support/Warranty/Recycling

527.6

Kerosene (kl)

Other

0.1 %

2,750

Employees)

Our Str ateg yElectricity (10,000 kWh)EIZO MS Corporation (Japan)(from July 1, 2019 to June 30, 2020)

Our Stor yEnvironmental Data

Note: Figures in parentheses indicate mid-career employment rates.

◦Greenhouse Gas Emissions▶G reenhouse Gas Emissions by Scopes (FY2019)▶C O2 Emissions and Energy Use (Japan, China and Germany)

Percentage ofTotal Emissions

Scope 1333

6.8

Consolidated

Scope 2

4,577

93.2

Consolidated

Total of Scope 1 and 2

4,910

100.0

Consolidated

Scope 3376,365

100.0—

1. Purchased products and services

Category

Scope of Calculations(t-CO2)8,000

101,896

Energy use

105,145(EIZO Group Companies in Japan)(GJ)

101,533

108,700

120,000

89,8476,000

30.2

EIZO Corporation headquarters

9,865

2.6

Consolidated

3. Fuel and energy-related activities notincluded in Scope 1 or 2

690

0.2

Consolidated

4. Upstream transportation anddistribution

530

0.1

Shipment volume of products
as cargo owner

5. Waste generated in operations

232

0.1

Consolidated

90,000

4,000

6,304

6,505

5,654

6. Business travel

531

0.1

EIZO Corporation headquarters

782

0.2

Group companies in Japan

11. Use of sold products

250,001

66.4

Consolidated

4

0.0

Consolidated

FY2019

1,957

1,925

Percentage of paid leave taken

71

76

84

Number of employees used childcare/nursing care leave

52

50

56

Number of employees used reduced working hours forchildcare or nursing care

67

63

56

4,910

2,000

7. Employee commuting

FY20181,964

60,0005,800

0FY2017
Average working hours

30,000

2015

2016

2017

2018

0

2019 (FY)

Note: Calculations of CO2 emissions associated with electricity use arebased on the conversion factor of Hokuriku Electric Power Company
for Japan and the calculation methods of each country.

Independent Assurance Statement
EIZO Corporation received the
independent assurance statementfrom Sustainability Accounting Co., Ltd.
on the energy usage, greenhouse gas
emissions by scope, and water usage
for fiscal year 2019.

Cor por ate
Over view

113,730

2. Capital goods

12. End-of-life treatment of sold products

CO2 emissions▶W orking Hours and Employee Support Programs

Gover nance

Emissions(t-CO2)◦Resources Recycling▶D ischarge of Industrial Waste and Recycling Rate
Industrial waste discharged

(t)
500

98.3

95.6

95.3

94.9

80
60

300

69

Collected in FY2019

(%)
100

96.5

400

200

▶ End-of-Life EIZO Monitors (for Home Use)

Recycling rate

338.2

435.8

416.3

439.0

410.4

40

100

20

0

0

2015

2016

2017

EIZO Integrated Report 2020

2018

2019

(FY)

CRT
Monitors
Volume in weight (kg)Collected in FY2019

CRT
Monitors

LCD Monitors

8,641.50

15,316.00

350

2,188

Recycled volume (kg)5,995.80

13,373.34

Recycling ratio (%)

69.38

87.32

Quantity (units)▶ End-of-Life EIZO Monitors (for Business Use)

LCD Monitors

395.04

1,281.00

16

183

Recycled volume (kg)265.891,038.47

Recycling ratio (%)

67.31

81.07

Volume in weight (kg)
Quantity (units)

EIZO Integrated Report 202070