Notice of Acquisition of Treasury Stock and Repurchase of Treasury Stock through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3)

- Acquisition of Treasury Stock Under Epson's Articles of Incorporation Pursuant to Paragraph 2 of Article 165 of the Companies Act of Japan and Repurchase of Treasury Stock through Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) -

- TOKYO, Japan November 16, 2011 -

Seiko Epson Corporation ("Epson", TSE: 6724) resolved at a board of directors meeting held earlier today to conduct an acquisition of treasury stock under Articles 156 and 165, paragraph 3 of the Companies Act of Japan. Details of the acquisition are as follows:

1. Reasons for acquiring treasury stock

Epson has resolved to conduct this acquisition after due consideration of the recent weak condition of the stock market, continuing trends in Epson's share price, and the possibility of excessive liquidity in Epson shares due to major shareholders' intentions to sell their Epson shares.

2. Acquisition method

To ensure that the shares are purchased both flexibly and efficiently, Epson will instruct its agent to purchase treasury stock through the off-auction own share repurchase trading system (ToSTNeT-3) on the Tokyo Stock Exchange at 8:45 AM on November 17, 2011, at today's closing price of 964 yen per share (Epson will not change to another trading system or the timing of the transaction). Bids to acquire shares will be accepted at the specified transaction time only.

3. Acquisition details

(1) Class of shares to be acquired: Common Stock of Epson
(2) Total number of shares to be acquired: 22,000,000 shares (upper limit)
(This represents 11.0% of the total issued shares excluding treasury stock.)
(3) Total acquisition amount: 21.208 billion yen (upper limit)

Note 1: Epson will not change the number of shares to be acquired. However, it is possible that part or all of the acquisition may not be completed according to the amount of the shareholders' bid for sell.
Note 2: Acquisition of treasury stock shall be made by bid for sell by shareholders matching the bid for buy by Epson.
Note 3: Epson has been contacted by Aoyama Kigyo Kabushiki Kaisha and another major shareholder that they intend to make a bid to sell part of the Epson shares held by them in the bid to buy to be made by Epson.

4. Disclosure of acquisition results

Epson will disclose the results of the acquisition after the transaction time at 8:45 AM (JST) on November 17, 2011.

Reference: Treasury stock held as of October 31, 2011

Total number of shares issued
(excluding treasury stock)

199,143,134 shares


Number of treasury stocks

674,255 shares


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 line-up ranging from printers and 3LCD projectors for enterprise and the home, to sensors and other microdevices. Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises more than 78,000 employees in 99 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/