Seiko Epson : Difference between Forecast and Actual Results for the Year Ended March 2021
April 28, 2021 at 02:25 am EDT
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Difference between Forecast and Actual Results for the Year Ended March 2021
- TOKYO, Japan, April 28, 2021 -
Seiko Epson Corporation (TSE: 6724, "Epson") has announced a difference between the forecast for the year ended March 2021, announced on January 28, and the actual results announced today.
1. Difference between forecast and actual results for the year ended March 2020 (April 1, 2020 to March 31, 2021)
Profit from
Profit for the
Business
Profit before
Profit for
period
Revenue
operating
attributable
Net income
profit
tax
the period
to owners of
per share
activities
the parent
company
Previous forecast (A)
Millions of
Millions of
Millions of
Millions of
Millions of
Millions of
Yen
yen
yen
yen
yen
yen
yen
52.03
980,000
50,000
38,000
34,000
18,000
18,000
Actual results (B)
995,940
61,642
47,654
44,933
30,995
30,922
89.38
Difference (B - A)
15,940
11,642
9,654
10,933
12,995
12,922
-
Difference (%)
1.6
23.3
25.4
32.2
72.2
71.8
-
Reference:
Results for the
1,043,600
40,861
39,479
39,713
7,823
7,733
22.26
year ended March
2020
Note: Business profit is calculated by subtracting cost of sales and selling, general and administrative expenses from revenue.
2. Reasons for the difference
Revenue and profit in each category exceeded the previous forecast. As demand for at-home printing continued, our inkjet printer business saw ink cartridge model hardware prices remain higher than forecast alongside steady sales of high-capacity ink tank models and ink. We also saw demand recovering for projectors, quartz devices and semiconductors, and reduced costs due to increased spending efficiency companywide.
We are recording an impairment loss of 7.5 billion yen for the accounting year in question due to decreasing profitability and a strategy revision in the wearables business.
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About Epson
Epson is a global technology leader dedicated to co-creating sustainability and enriching communities by leveraging its efficient, compact, and precision technologies and digital technologies to connect people, things, and information. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson will become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050.
Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of around JPY 1 trillion.
global.epson.com/
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Seiko Epson Corporation published this content on 28 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2021 06:24:01 UTC.
Seiko Epson Corporation specializes in the design, manufacturing and marketing of printing, visual communication and watchmaking equipment and systems, and industrial devices. Net sales break down by family of products as follows:
- printing equipment (71%): printers, scanners, copiers, digital presses, fax machines, ticket printers, labellers, etc. for businesses and individuals. The group also offers consumables (ink cartridges, toners, ribbons, etc.);
- visual communication systems (14.2%): multimedia projectors, smart glasses, LCD displays, etc. ;
- watches and industrial products (14.1%): electronic and mechanical watches, wristwatches, chronometers, optoelectronic devices, precision machine tools, robotic systems, mechatronic products, micro-devices, etc.
- other (0.7%).
At the end of March 2021, Seiko Epson operated 27 production sites worldwide.
Net sales are distributed geographically as follows: Japan (22.3%), the United States (21%), China (14.5%) and other (42.2%).
SEIKO EPSON CORPORATION 
