Seiko Epson releases financial results for six months ending Sept. 30, 2023

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October 27, 2023 (press release) –

October 27, 2023
Stock Listing: TOKYO

Name of the listed company: SEIKO EPSON CORPORATION

Code: 6724 URL: https://corporate.epson/en/investors/

Representative: Yasunori Ogawa, President

Inquiries: Tatsuaki Seki, Representative Director, Business Management DivisionTel: +81-266-52-3131

Scheduled date to file Quarterly Securities Report: October 31, 2023

Scheduled starting date of payment for the dividends: November 30, 2023

Reference materials regarding financial results for the period: Yes

Briefing on quarterly financial results: Yes (for analysts)

(Amounts are rounded down to the nearest million yen)

1. Results of Six months ended September 30, 2023 (From April 1, 2023 to September 30, 2023)

(1) Consolidated Operating Results

(%:Change from same period previous year)

	Revenue		Business Profit		Profit from operating activities		Profit before tax		Profit for the period		Profit for the period attributable to owners of the parent company
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
Six months ended September 30, 2023	638,533	0.9	24,428	△50.7	27,933	△52.8	38,363	△46.5	27,482	△45.5	27,479	△45.5
Six months ended September 30, 2022	633,127	15.0	49,510	△0.4	59,152	22.9	71,730	49.9	50,391	38.0	50,386	38.0

Note: Total comprehensive income for the period:

Six months ended September 30, 2023 ¥72,860 million (△26.2%)
Six months ended September 30, 2022 ¥98,722 million (133.8%)

Business profit is calculated by subtracting Cost of sales and Selling, general and administrative expenses from Revenue.

	Basic earnings per share	Diluted earnings per share
	Yen	Yen
Six months ended September 30, 2023	82.88	82.87
Six months ended September 30, 2022	146.00	145.96

(2) Consolidated Financial Position

	Total assets	Total equity	Equity attributable to owners of the parent company	Equity attributable to owners of the parent company ratio
	Millions of yen	Millions of yen	Millions of yen	%
As of September 30, 2023	1,377,097	786,846	786,711	57.1
As of March 31, 2023	1,341,575	727,477	727,352	54.2

2. Cash Dividends

	Cash dividends per share
	1^st Quarter	2^nd Quarter	3^rd Quarter	Year End	Year Total
	Yen	Yen	Yen	Yen	Yen
Year ended March 31, 2023	-	31.00	-	41.00	72.00
Year ending March 31, 2024	-	37.00
Year ending March 31, 2024(Forecast)			-	37.00	74.00

Note: Changes from the latest announced forecasts: None
Breakdown of dividend for the year ended March 31, 2023: Regular dividend: 62.00 yen
Anniversary dividend: 10.00 yen (including in the year-end dividend)

3. Forecast for the Fiscal Year ending March 31, 2024 (From April 1, 2023 to March 31, 2024)

(%:Change from same period previous year)

	Revenue		Business Profit		Profit from operating activities		Profit before tax		Profit for the period		Profit for the year attributable to owners of the parent company		Basic earnings per share
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
For the year ending March 31, 2024	1,360,000	2.2	80,000	△15.9	80,000	△17.6	91,000	△12.3	65,000	△13.4	65,000	△13.4	196.01

Note: Changes from the latest announced forecasts: Yes

* Notes

(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting from changes in the scope of consolidation): None

(2) Changes in accounting policies, or changes in accounting estimates

Changes in accounting policies required by IFRS: Yes
Changes in accounting policies other than the changes above: None
Changes in accounting estimates: None

(3) Number of shares outstanding

(share)

1. Issued shares (including treasury shares):	As of September 30, 2023	385,022,278	As of March 31, 2023	385,022,278
2. Treasury shares:	As of September 30, 2023	53,398,560	As of March 31, 2023	53,506,635
3. Average number of shares:	Six months ended September 30, 2023	331,554,809	Six months ended September 30, 2022	345,108,337

* This report is not reviewed by certified public accountants nor auditors.
* Explanation of appropriate use of forecast and other special items
(Cautionary statement concerning forward-looking statements)
This report includes forward looking statements that are based on management's view from the information available at the time of the announcement. These statements are subject to various risks and uncertainties. Actual results may be materially different from those discussed in the forward looking statements. The factors that may affect Epson include, but are not limited to, general economic conditions, the ability of Epson to continue to timely introduce new products and services in markets, consumption trends, competition, technology trends, and exchange rate fluctuations.
Assumptions for the forecasts and warnings for users of the forecasts are available on "Outlook."

(How to access supplementary explanations and details of briefing on financial results)
The Company is scheduled to hold a briefing for analysts on financial results on Friday, October 27, 2023 and to post materials used at the briefing on the Company's website on that day.

U.S. dollar amounts are presented for the convenience of the readers. This translation should not be construed to imply that the yen amounts actually represent, or have been or could be converted into, equivalent amounts in U.S. dollars. The exchange rate of ¥149.405 = U.S.$1 at the end of the reporting period has been used for the purpose of presentation.

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