Seiko Epson Corporation

Consolidated Results for the Second Quarter Ended September 30, 2009

– TOKYO, Japan, October 29, 2009 –

Consolidated Financial Highlights

Income statements and cash flow data

(Millions of yen, thousands of U.S. dollars, except for per share data)

		Six months ended September 30		Change	Six months ended September 30, 2009
		2008	2009
Statements of income data
Net sales		¥615,784	¥449,629	(27.0%)	$4,984,247
Operating income(loss)		28,008	(9,300)	- %	(103,092)
Ordinary income(loss)		27,497	(14,431)	- %	(159,971)
Net income		11,720	(29,187)	- %	(323,545)
Statements of cash flow data
Cash flows from operating activities		20,766	3,687	(82.5%)	40,317
Cash flows from investing activities		(35,846)	(32,116)	- %	(356,013)
Cash flows from financing activities		(31,188)	6,447	- %	71,466
Cash and cash equivalents at the end of the period		273,200	257,850	(5.6%)	2,858,330
Per share data
Net income (loss) per share	-Basic	¥59.69	(¥146.92)	- %	($1.62)
	-Diluted	¥-	¥-	- %	$-

Balance sheets data

(Millions of yen, thousands of U.S. dollars, except for per share data)

	September 30, 2009	March 31, 2009	September 30, 2009
Total assets	¥887,610	¥917,342	$9,839,374
Net assets	269,351	318,631	2,985,821
Shareholders' equity	267,905	302,623	2,969,792
Shareholders' equity ratio (%)	30.2%	33.0%	30.2%
Shareholders' equity per share	¥1,340.90	¥1,541.16	$14.86

Notes

1. The consolidated figures are prepared on the basis of accounting principles generally accepted in Japan, which are different in certain respects as to application and disclosure requirements of International Financial Reporting Standards, and are compiled from the consolidated figures prepared by the Company as required by the Financial Instruments and Exchange Law of Japan.
2. Figures in 'Change' column are comparisons with the same period of the previous year.
3. Diluted net income per share is presented only if there are dilutive factors present.
4. Shareholders' equity is equity excluding minority interests in subsidiaries.
5. U.S. dollar amounts are included solely for the convenience of readers. These translations should not be construed as representations that the yen amounts actually represent, or have been or could be converted into U.S. dollars at that or any other rate. The rate of ¥90.21 = U.S.$1 at September 30, 2009 has been used for the purpose of presentation.

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