KYOTO -- Omron Corp., a major automated control equipment manufacturer, said Thursday it intends to raise return on equity to 10 percent from the current 6.7 percent through sales of 750 billion yen and pretax profits of 80 billion yen by the end of fiscal 2004.
In fiscal 2000, Omron reported consolidated sales of 594.2 billion yen and pretax profits of 40 billion yen.
Announcing the firm's 10-year business plan, Omron president Yoshio Tateishi said the company will focus on its core business fields -- investing 50 billion yen in industrial automation and 70 billion yen in electronics component over the next four years.
This 120 billion yen accounts for about 60 percent of the company's overall investment during the four years and is a 50 percent increase from total investment between 1996 and 2000.
Tateishi also said the company hopes to be listed on New York Stock Exchange by 2005 and other international markets.
On management and corporate structures, Omron plans to consolidate its group operations under a holding company, and then spin off some operations into separate companies, the date of which is undecided.