Day: September 30, 2021

The shift to Industry 5.0 could lead to job losses if workers are not retooled and reskilled, the Asian Development Bank (ADB) has warned. In a special supplement titled, “Capturing the Digital Economy: A proposed measurement framework and its applications,” experts also said shifting to Industry 5.0 from Industry 4.0, however, would still lead to increased consumption and job opportunities if workers are able to adapt. “Data suggest that, while effects of technology improvements observably reduce labor demand as a result of substitution, positive job impacts coming from consumption and new labor requirements may compensate,” the ADB said.

At OMRON, our aim is to contribute to the creation of a sustainable society and enhance corporate value, by using our OMRON Principles to solve social issues through our business activities. In order to make this a reality, we feel it is very important to identify the material sustainability issues upon which OMRON should focus, incorporate these into medium to long-term strategies and then establish specific initiatives, and through our business activities, solve these problems. Based upon this, we identified and set targets for 15 sustainability issues under the VG2.0 medium-term management plan which started in fiscal 2017, from the viewpoints of stakeholders and OMRON. In fiscal 2018, OMRON established a company-wide management structure aimed at achieving our year 2020 Sustainability Goals, and accelerated implementation of our initiatives.