Epson to Transfer IC Test Handler Business

- TOKYO, Japan, January 28, 2021 -

Seiko Epson Corporation (TSE: 6724, "Epson") has today agreed to transfer the IC test handler business from its robotics solutions business to Kanematsu Corporation.

1. Reason for transfer

While maintaining our Epson 25 long-term vision, our business plan requires us to be sensitive to both changes in the business environment and societal needs as we focus on profit-generating businesses.
Based on this policy, we have undertaken a review of the product portfolio in our robotics solutions business. By focusing management resources on markets where we can demonstrate our strengths, we will accelerate growth and build a base to allow robotics to expand into a core Epson business.

2. Transferring department revenue

Approximately 3.0 to 4.0 billion yen

3. Outline of Kanematsu Corporation

(1) Name Kanematsu Corporation
(2) Kobe Head Office 119 Ito-cho, Chuo-ku, Kobe, Hyogo, Japan
(3) Representative Kaoru Tanigawa, president
(4) Business lines Provision of products and services related to electronics & devices; food; steel, materials & plant; motor vehicles & aerospace
(5) Paid-in capital (as of September 30, 2020) 27,781 million yen
(6) Equity attributable to owners of the parent company
(as of September 30, 2020, consolidated)
134,419 million yen
(7) Total assets (same as above) 522,039 million yen
(8) Founded March 18,1918
(9) Principal shareholders
(as of September 30, 2020)
Custody Bank of Japan, Ltd. (trust account) 13.58%
The Master Trust Bank of Japan Ltd. (trust account) 7.51%
Tokio Marine & Nichido Fire Insurance Co., Ltd. 2.75%
(10) Relationship between the parties Capital None
Human resources None
Business Some sales between the parties
Status of related parties None

4. Schedule

January 28,2021 Conclusion of business transfer contract
Early April 2021 Planned completion of business transfer

5. Outlook

This transfer will have a minimal effect on business results. We will not be revising our business outlook as a result of this transfer.

About Epson
Epson is a global technology leader dedicated to becoming indispensable to society by connecting people, things and information with its original efficient, compact and precision technologies. The company is focused on driving innovations and exceeding customer expectations in inkjet, visual communications, wearables and robotics. Epson is proud of its contributions to realizing a sustainable society and its ongoing efforts to realizing the United Nations' Sustainable Development Goals.
Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of more than JPY 1 trillion.