Part 1. Company Information
- Overview of Company
1. Key financial data
Consolidated financial highlights
Millions of yen | Thousands of | |||||||
U.S. dollars | ||||||||
For the years ended March 31 | 2018 | 2019 | 2020 | 2021 | 2022 | 2022 | ||
Revenue | 1,102,116 | 1,089,676 | 1,043,600 | 995,940 | 1,128,914 | 9,231,449 | ||
Profit before tax | 62,663 | 72,040 | 39,713 | 44,933 | 97,162 | 794,521 | ||
Profit for the period attributable to | 41,836 | 53,710 | 7,733 | 30,922 | 92,288 | 754,665 | ||
owners of the parent company | ||||||||
Total comprehensive income for the | 41,581 | 49,542 | (3,869) | 68,818 | 136,226 | 1,113,958 | ||
period | ||||||||
Equity attributable to owners of the | 512,727 | 540,181 | 503,746 | 550,924 | 665,628 | 5,443,028 | ||
parent company | ||||||||
Total assets | 1,033,350 | 1,038,389 | 1,040,910 | 1,161,314 | 1,266,420 | 10,355,875 | ||
Equity attributable to owners of the | Yen | Yen | Yen | Yen | Yen | $ | ||
parent company, per share | 1,455.67 | 1,533.57 | 1,456.20 | 1,592.36 | 1,923.68 | 15.73 | ||
Basic earnings per share | Yen | Yen | Yen | Yen | Yen | $ | ||
118.78 | 152.49 | 22.26 | 89.38 | 266.73 | 2.18 | |||
Diluted earnings per share | Yen | Yen | Yen | Yen | Yen | $ | ||
118.75 | 152.44 | 22.25 | 89.35 | 266.64 | 2.18 | |||
Equity attributable to owners of the | % | % | % | % | % | - | ||
parent company ratio | 49.62 | 52.02 | 48.39 | 47.44 | 52.56 | |||
Return on equity | % | % | % | % | % | - | ||
8.33 | 10.20 | 1.48 | 5.86 | 15.17 | ||||
Price earnings ratio | times | times | times | times | times | - | ||
15.92 | 11.12 | 52.56 | 20.14 | 6.90 | ||||
Dividend payout ratio | % | % | % | % | % | - | ||
52.2 | 40.7 | 278.5 | 69.4 | 23.2 | ||||
Total shareholder return | % | % | % | % | % | |||
(Comparison index: TOPIX (Dividend | 83.3 | 77.6 | 57.8 | 87.4 | 91.8 | - | ||
included)) | (115.9) | (110.0) | (99.6) | (141.5) | (144.3) | |||
Net cash from (used in) operating | 84,279 | 76,961 | 102,324 | 133,222 | 110,801 | 906,051 | ||
activities | ||||||||
Net cash from (used in) investing | (74,661) | (82,738) | (76,131) | (57,448) | (44,083) | (360,479) | ||
activities | ||||||||
Net cash from (used in) financing | 37 | (49,430) | (283) | 23,150 | (51,771) | (423,346) | ||
activities | ||||||||
Cash and cash equivalents at end of | 229,678 | 175,238 | 196,245 | 304,007 | 335,239 | 2,741,344 | ||
period | ||||||||
Number of employees | persons | persons | persons | persons | persons | - | ||
76,391 | 76,647 | 75,608 | 79,944 | 77,642 | ||||
(Note) The Consolidated Financial Statements have been prepared on the basis of International Financial Reporting Standards (IFRS) from the year ended March 31, 2014.
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 ¥122.290 = U.S.$1 at the end of the reporting period has been used for the purpose of presentation
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2. Company milestones
Date | Event | |
5/1942 | Daiwa Kogyo, Ltd. established to manufacture watch parts, launching the watch business | |
5/1959 | Sales & marketing taken over from the Suwa factory of Daini Seikosha Co., Ltd. (now Seiko | |
Instruments Inc.) and the business name was changed to Suwa Seikosha, Ltd. | ||
9/1959 | Reorganized to form Suwa Seikosha Co., Ltd. | |
12/1961 | Domestic manufacturing company Shinshu Seiki Co., Ltd. (later Epson Corporation) established | |
8/1968 | Manufacturing company Tenryu Singapore Pte. Ltd. (now Singapore Epson Industrial Pte. Ltd.) | |
established | ||
9/1968 | Mini-printer business launched | |
11/1973 | Semiconductor business launched | |
2/1974 | Manufacturing company Suwa Overseas Ltd. [now Epson Precision (Hong Kong) Ltd.] | |
established | ||
4/1975 | Sales company Epson America, Inc. established | |
Corrective lenses business launched (the business was transferred in 2/2013) | ||
6/1975 | EPSON established as a company brand in non-watch businesses | |
Liquid crystal display business launched | ||
7/1976 | Quartz crystal device business launched | |
12/1978 | Computer printer business launched | |
11/1979 | Sales company Epson Deutschland GmbH established in Germany | |
10/1980 | Sales company Epson Electronics Trading Ltd. (now Epson Hong Kong Ltd.) established | |
11/1982 | Sales company Epson Electronics (Singapore) Pte. Ltd. (now Epson Singapore Pte. Ltd.) | |
established | ||
5/1983 | Domestic sales company Epson Sales Japan Corporation established | |
1/1985 | Domestic manufacturing company Shonai Electronics Industry Corporation (now Tohoku Epson | |
Corporation) established | ||
2/1985 | Manufacturing company Epson Portland Inc. established in the U.S. | |
11/1985 | Suwa Seikosha Co., Ltd. and Epson Corporation merged to form Seiko Epson Corporation | |
1/1987 | Manufacturing company Epson Telford Ltd. established in the U.K. | |
1/1989 | LCD projector business launched | |
9/1989 | Sales company Epson Semiconductor GmbH (now Epson Europe Electronics GmbH) | |
established in Germany | ||
1/1990 | Regional head office Epson Europe B.V. established in the Netherlands | |
1/1993 | U.S. Epson, Inc. established | |
11/1993 | Domestic sales company Epson Direct Corporation established | |
7/1994 | Manufacturing company P.T. Indonesia Epson Industry established | |
2/1996 | Manufacturing company Suzhou Epson Quartz Devices Co., Ltd. (later Suzhou Epson Co., Ltd.) | |
established in China (all rights and obligations transferred in 7/2011) | ||
11/1996 | Sales company Epson Electronics America, Inc. established (absorbed by Epson America, Inc. | |
in 4/2018) | ||
4/1998 | Regional head office Epson (China) Co., Ltd. established | |
3/2001 | Orient Watch Co., Ltd. made a wholly owned subsidiary | |
6/2003 | Seiko Epson shares listed on Section 1 of the Tokyo Stock Exchange | |
10/2004 | Liquid crystal display business split off to form Sanyo Epson Imaging Devices Corporation | |
10/2005 | Quartz device business split off to form Epson Toyocom Corporation (now Miyazaki Epson | |
Corporation) | ||
12/2006 | Sanyo Epson Imaging Devices Corporation made a wholly owned subsidiary through the | |
acquisition of additional shares. Business name changed to Epson Imaging Devices Corporation | ||
(certain assets of the small- and medium-sized LCDs business were transferred in 4/2010). | ||
Epson Imaging Devices was absorbed by Seiko Epson in 2/2017, with the latter the surviving | ||
company. | ||
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Date | Event | |
11/2008 | Additional shares of Orient Watch Co., Ltd. acquired in a takeover bid | |
3/2009 | Orient Watch Co., Ltd. made a wholly owned subsidiary via an exchange of shares (the watch | |
sales business was split off and absorbed in 4/2017, with Seiko Epson and Epson Sales Japan the | ||
succeeding companies) | ||
4/2009 | Additional shares of Epson Toyocom Corporation (now Miyazaki Epson Corporation) acquired | |
in a takeover bid | ||
6/2009 | Epson Toyocom Corporation (now Miyazaki Epson Corporation) made a wholly owned | |
subsidiary via an exchange of shares (sales, marketing and certain other functions related to the | ||
quartz device business were split off and absorbed in 4/2012, with Seiko Epson the succeeding | ||
company) | ||
4/2015 | Executed a 2-for-1 stock split of common shares | |
6/2016 | Transitioned from a company with an audit & supervisory board to a company with an audit & | |
supervisory committee | ||
7/2017 | Construction completed on a new factory at manufacturing subsidiary Epson Precision | |
(Philippines), Inc. to expand production capacity for inkjet printers and projectors | ||
6/2018 | Construction completed on a new factory at the Hirooka Office in Nagano Prefecture to expand | |
inkjet printhead production capacity | ||
3/2020 | Construction completed on a new building at the Hirooka Office in Nagano Prefecture to | |
reinforce commercial and industrial printing R&D and production capacity | ||
4/2022 | Company stock transferred from the 1st Section of the Tokyo Stock Exchange to the Prime | |
Market in conjunction with a reorganization of the Tokyo Stock Exchange's market segments |
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3. Description of business
Epson is primarily engaged in developing, manufacturing, selling, and providing services for products in the printing solutions, visual communications, manufacturing-related and wearables, and the other business.
Epson is organized into operations divisions that come under global consolidated management. The majority of advanced R&D and product development is conducted in Japan (by Corporate R&D and R&D organizations in the various operations divisions), while manufacturing and sales activities are conducted around the world by Epson Group manufacturing and sales companies, both in Japan and abroad.
A brief description of Epson's various businesses is provided below along with a list of the main Epson Group companies involved in each segment.
The reporting segments were changed at the beginning of the fiscal year based on the Epson 25 Renewed corporate vision established in March 2021. The three reporting segments are printing solutions, visual communications, and manufacturing-related and wearables. Each reporting segment is the same as the segments used in "V. Financial Information, 1. Consolidated financial statements, etc., (1) Consolidated financial statements, Notes to Consolidated Financial Statements, 7. Segment Information."
Printing Solutions Business Segment
This segment comprises the office and home printing business, commercial and industrial printing business, and others. The businesses in this segment leverage Epson's original Micro Piezo as well as dry fiber technology and other technologies to develop, manufacture, and sell products and provide services related thereto.
The main activities of these businesses are described below.
Office and home printing business
This business is primarily responsible for office and home inkjet printers, serial impact dot matrix (SIDM) printers, page printers, color image scanners, dry process office papermaking systems, and related consumables.
Commercial and industrial printing business
This business is primarily responsible for inkjet printers for commercial and industrial applications, inkjet printheads, printers for use in POS systems, label printers, and related consumables.
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The major Epson Group companies involved in this segment are listed in the table below.
Business area | Main products | Main Epson Group companies | |
Manufacturing companies | Sales companies | ||
Epson Sales Japan Corporation | |||
Inkjet printers for office and | Epson America, Inc. | ||
Epson do Brasil Industria e | |||
home, serial impact dot | |||
Comercio Ltda. | |||
Office and home | matrix printers, page printers, | ||
Epson Europe B.V. | |||
color image scanners, dry | |||
printing business | Tohoku Epson Corporation | Epson (U.K.) Ltd. | |
process office papermaking | |||
Akita Epson Corporation | Epson Deutschland GmbH | ||
systems, and related | |||
Epson Portland Inc. | Epson France S.A.S. | ||
consumables, and others | |||
Epson do Brasil Industria e | Epson Italia S.p.A. | ||
Comercio Ltda. | Epson Como Printing | ||
Epson Telford Ltd. | Technologies S.r.l. | ||
Epson Como Printing Technologies | Epson Iberica, S.A.U. | ||
S.r.l. | Epson (China) Co., Ltd. | ||
Commercial and industrial | Epson Engineering (Shenzhen) Ltd. | Epson Singapore Pte. Ltd. | |
Tianjin Epson Co., Ltd. | Epson Korea Co., Ltd. | ||
Commercial and | inkjet printers, inkjet | ||
PT. Epson Batam | Epson Hong Kong Ltd. | ||
printheads, printers for use in | |||
industrial printing | PT. Indonesia Epson Industry | Epson Taiwan Technology & | |
POS systems, label printers, | |||
business | Epson Precision (Philippines), Inc. | Trading Ltd. | |
and related consumables, and | |||
PT. Epson Indonesia | |||
others | |||
Epson (Thailand) Co., Ltd. | |||
Epson Philippines Corporation | |||
Epson Australia Pty. Ltd. | |||
Epson India Pvt. Ltd. |
Visual Communications Business Segment
The businesses in this segment leverage Epson's original microdisplay and projection technologies to develop, manufacture, and sell 3LCD projectors mainly for business, education, the home, and event as well as smart glasses and provide services related thereto.
The major Epson Group companies involved in this segment are listed in the table below.
Business area | Main products | Main Epson Group companies | |
Manufacturing companies | Sales companies | ||
Epson Sales Japan Corporation | |||
Epson America, Inc. | |||
Epson do Brasil Industria e | |||
Comercio Ltda. | |||
Epson Europe B.V. | |||
Epson (U.K.) Ltd. | |||
Epson Deutschland GmbH | |||
Epson France S.A.S. | |||
Epson Italia S.p.A. | |||
Visual | 3LCD projectors, smart | Epson Engineering (Shenzhen) Ltd. | Epson Iberica, S.A.U. |
Epson (China) Co., Ltd. | |||
communications | glasses, and others | Epson Precision (Philippines), Inc. | |
Epson Singapore Pte. Ltd. | |||
Epson Korea Co., Ltd. | |||
Epson Hong Kong Ltd. | |||
Epson Taiwan Technology & | |||
Trading Ltd. | |||
PT. Epson Indonesia | |||
Epson (Thailand) Co., Ltd. | |||
Epson Philippines Corporation | |||
Epson Australia Pty. Ltd. | |||
Epson India Pvt. Ltd. |
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Seiko Epson Corporation published this content on 30 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 June 2022 06:11:02 UTC.