- TOKYO, Japan, April 26, 2024 -

At a meeting of its board of directors held today, Seiko Epson Corporation (TSE: 6724, "Epson") resolved on a share repurchase ("this share repurchase") pursuant to Article 156 of the Companies Act of Japan as applied pursuant to Article 165, Paragraph 3 of the same act.

(1) Purpose of share repurchase

As a company committed to solving societal issues, Epson is seeking to increase corporate value by prioritizing investments based on its cash allocation policy in growth areas, new areas and the environment.Against this background, the company decided on this share repurchase with the aim of achieving greater capital efficiency and implementing a more proactive shareholder returns policy.

(2) Details of share buyback

In addition, pursuant to the Restricted Stock Compensation Plan ("the "Plan"), the introduction of which was approved at Epson's 80th Ordinary General Meeting of Shareholders held on June 28, 2022, Epson also plans to dispose of treasury shares as stock compensation this fiscal year. This share repurchase is therefore scheduled to commence after disposal of treasury shares under the Plan is completed.

Epson plans to cancel all the treasury shares to be acquired as part of this repurchase. We will disclose the number of shares to be cancelled after the current acquisition is complete.

Reference: Status of treasury shares as of March 31, 2024

Number of outstanding shares (excluding treasury shares)

331,732,536 shares

Number of treasury shares

53,289,742 shares (excluding trust ownership for executive compensation BIP)

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