Financial Results for the Year ended March 31, 2024 [IFRS](Consolidated)

April 26, 2024
Stock Listing: TOKYO

Name of the listed company: SEIKO EPSON CORPORATION

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

Representative: Yasunori Ogawa, President

Inquiries: Masaharu Mizukami, General Administrative Manager, Business Management Division Tel: +81-266-52-3131

Scheduled date of Annual Shareholders Meeting: June 25, 2024

Scheduled starting date of payment for the dividends: June 26, 2024

Scheduled date to file Annual Securities Report: June 26, 2024

Reference materials regarding financial results for the period: Yes

Briefing on financial results: Yes (for analysts)

(Amounts are rounded down to the nearest million yen)

1. Results of the Year ended March 31, 2024 (From April 1, 2023 to March 31, 2024)

(1) Consolidated Operating Results

(%: Change from the 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 %
Year ended
March 31, 2024		 1,313,998 △1.2 64,721 △31.9 57,533 △40.7 70,094 △32.4 52,620 △29.9 52,616 △29.9
Year ended
March 31, 2023		 1,330,331 17.8 95,106 6.1 97,044 2.7 103,755 6.8 75,051 △18.7 75,043 △18.7

Note:

Total comprehensive income for the period: Year ended March 31, 2024 ¥109,325 million (△3.2%)
Year ended March 31, 2023 ¥112,913 million (△17.1%)

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		 ROE*1 ROA*2 ROS*3
  Yen Yen % % %
Year ended March 31, 2024 158.68 158.66 6.8 4.7 4.9
Year ended March 31, 2023 220.75 220.70 10.8 7.3 7.1

*1 Profit for the period attributable to owners of the parent company / Equity attributable to owners of the parent company (avg. balance)
*2 Business profit / Total assets (avg. balance)
*3 Business profit / Revenue

Reference: Equity gains (losses) of affiliates: Year ended March 31, 2024 ¥23 million
Year ended March 31, 2023 ¥105 million

(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 Equity attributable to owners of the parent company, per share
  Millions of yen Millions of yen Millions of yen % Yen
As of March 31, 2024 1,413,094 811,134 810,992 57.4 2,445.52
As of March 31, 2023 1,341,575 727,477 727,352 54.2 2,194.02

(3) Consolidated Cash Flows

  Net cash from (used in) operating activities Net cash from (used in) investing activities Net cash from (used in) financing activities Cash and cash equivalents at end of period
  Millions of yen Millions of yen Millions of yen Millions of yen
Year ended March 31, 2024 165,570 (58,981) (65,395) 328,481
Year ended March 31, 2023 61,311 (61,602) (79,349) 267,380

2. Cash Dividends

  Cash dividends per share Total cash
dividends		 Dividend
payout ratio		 Ratio of dividends to equity attributable to owners of the parent company
1st Quarter 2nd Quarter 3rd Quarter Year End Year Total
  Yen Yen Yen Yen Yen Millions of yen % %
Year ended March 31, 2023 - 31.00 - 41.00 72.00 24,189 32.6 3.5
Year ended March 31, 2024 - 37.00 - 37.00 74.00 24,548 46.6 3.2
Year ending March 31, 2025(Forecast) - 37.00 - 37.00 74.00   51.1  

Note:

Breakdown of dividend for the year ended March 31, 2023:
Regular dividend: 62.00 yen
Anniversary dividend: 10.00 yen (included in the year-end dividend)

3. Forecast for the Year ending March 31, 2025 (From April 1, 2024 to March 31, 2025)

(%: Change from the 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 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, 2025 1,330,000 1.2 80,000 23.6 71,000 23.4 68,000 △3.0 48,000 △8.8 48,000 △8.8 144.74

*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

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

(3) Number of shares outstanding

(share)

1. Issued shares (including treasury shares): As of March 31, 2024 385,022,278 As of March 31, 2023 385,022,278
2. Treasury shares: As of March 31, 2024 53,398,912 As of March 31, 2023 53,506,635
3. Average number of shares: Year ended
March 31, 2024		 331,589,159 Year ended
March 31, 2023		 339,951,845

(Reference) Summary of Non-Consolidated Financial Results
1. Results of the Year ended March 31, 2024 (From April 1, 2023 to March 31, 2024)

(1) Non-Consolidated Operating Results

(%: Change from same period previous year)

  Net sales Operating profit Ordinary profit Profit
  Millions of yen % Millions of yen % Millions of yen % Millions of yen %
Year ended March 31, 2024 857,780 △11.6 (8,406) - 59,690 △22.6 54,322 △22.3
Year ended March 31, 2023 969,999 17.8 18,700 △67.1 77,109 △37.6 69,931 △39.5
  Basic earnings per share Diluted earnings per share
  Yen Yen
Year ended March 31, 2024 163.82 -
Year ended March 31, 2023 205.71 -

(2) Non-consolidated Financial Position

  Total assets Net assets Equity-to-asset ratio Net assets per share
  Millions of yen Millions of yen % Yen
As of March 31, 2024 827,648 453,777 54.8 1,368.35
As of March 31, 2023 818,535 422,366 51.6 1,274.05

(Reference) Shareholders' equity: As of March 31, 2024 ¥453,777 million As of March 31, 2023 ¥422,366 million

  • * 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, April 26, 2024 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 ¥151.335 = U.S.$1 at the end of the reporting period has been used for the purpose of presentation.

Official Account