Epson to Adopt International Financial Reporting Standards

 

- TOKYO, Japan, April 30, 2014 -

Epson (TSE: 6724) today announced that it would hereafter apply International Financial Reporting Standards (IFRS) to Group financial statements and other financial reports.

1. Purpose of adopting IFRS

Epson is now firmly established as a global corporation with international markets comprising approximately 70% of total net sales, manufacturing facilities throughout Asia, and also in the Americas and Europe, and sales companies located throughout the world. The adoption of IFRS is part of Epson's policy of creating a truly global operation by introducing a management structure that will enable the company to manage its Group companies and businesses based on unified systems and information.

2. Disclosure schedule (planned)

Epson plans to introduce IFRS are as follows.

From the first quarter (ending June 2014, fiscal year ending March 2015), Epson plans to change the financial disclosures contained in its quarterly consolidated results and supplementary information and other quarterly financial reports from Japanese accounting standards to IFRS. Epson also plans to change the financial disclosures contained in its full-year consolidated results and supplementary information and Japanese Financial Statements ("yuho") to IFRS from fiscal year ending March 2015.

April 2014
Consolidated results and supplementary information for the year ended March 2014

  • Financial results for the year ended March 2014 (Japanese accounting standards)
  • Financial outlook for the year ending March 2015 (Japanese accounting standards and IFRS)

June 2014

  • Japanese Financial Statements ("yuho") (Japanese accounting standards)

July 2014

  • Consolidated results and supplementary information for the first quarter ending June 2014 (fiscal year ending March 2015) (IFRS)

August 2014

  • First quarter financial reports for the year ending March 2015 (IFRS)*

*Disclosed with financial statements for the year ended March 2014 (IFRS)

About Epson
Epson is a global innovation leader dedicated to exceeding expectations with solutions for markets as diverse as the office, home, commerce and industry. Epson's lineup ranges from inkjet printers, printing systems and 3LCD projectors to industrial robots, smart glasses and sensing systems and is based on original compact, energy-saving, and high-precision technologies.
Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises more than 73,000 employees in 94 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/