Notice of Extraordinary Losses

 

TOKYO, Japan, January 28, 2011

Seiko Epson Corporation ("Epson", TSE: 6724) today announced it would book extraordinary losses for the third quarter (October 1 to December 31, 2010) of the year ending March 31, 2011.

1. Details of extraordinary losses

(1) Business structure improvement expenses (consolidated)

In association with the termination of the small- and medium-sized display business, Epson will book, as extraordinary losses, business structure improvement expenses of 5,343 million yen on a consolidated base.

(2) Provision of allowance for doubtful accounts and provision for loss on guarantees (unconsolidated)

In consideration of the financial situation of an affiliated company, Epson will book, as extraordinary losses, a provision of allowance for doubtful accounts and a provision for loss on guarantees totaling 6,700 million yen on an unconsolidated base. These extraordinary losses have already been included in the income statements of the consolidated affiliated company, and are therefore not included as extraordinary losses in the consolidated accounts.

2. Impact on business results

The aforementioned extraordinary losses have been reflected in the previously disclosed business results for the full year ended March 31, 2011. Epson will not revise its full-year outlook as a result of this matter.

About Epson
Epson is a global imaging and innovation leader that is dedicated to exceeding the vision of customers worldwide through its compact, energy-saving, high-precision technologies, with a product lineup ranging from printers and 3LCD projectors for business and the home, to electronic and crystal devices.
Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises nearly 80,000 employees in 102 companies around the world, and is proud of its ongoing contributions to the global environment and the communities in which it operates.
http://global.epson.com/