Notice of Revised Dividend Outlook for the Fiscal Year Ending March 2013

- TOKYO, Japan, March 13, 2013 -

Seiko Epson Corporation (TSE: 6724, "Epson") today announced that its board of directors had voted to revise the Company's year-end dividend outlook. The amount of the year-end dividend is subject to approval by the annual shareholders' meeting, which is scheduled to be held in June 2013.

1. Reason for revision of forecast

Epson has a policy of maintaining stable dividend payments and aims to achieve a consistent consolidated dividend payout ratio of 30%. Based on this policy, the Company's interim dividend payment was in line with its initial forecast of 13 yen per share.

However, Epson postponed a decision on the amount of the year-end dividend because of increasing uncertainty in the business environment, and pending the results of the key year-end selling season. The Company has now decided to set the year-end dividend payment at 7 yen per share after comprehensively assessing the outlook for the full year business results, the Company's mid-range financial forecast, cash flows, and other financial factors.

Combined with the interim dividend payment of 13 yen per share, the total dividend payment for the year will therefore come to 20 yen per share. Epson has not revised its previously announced business forecast for the year ending March 2013.

2. Details of revision

(Unit: yen)

Dividend per share
Interim Year end Total
Previous outlook
(January 31, 2013)
13.00 TBA TBA
Current outlook - 7.00 20.00
Actual 13.00 - -
Reference: Previous year
(ended March 2012)
13.00 13.00 26.00

About Epson
Epson is a global imaging and innovation leader whose product lineup ranges from inkjet printers and 3LCD projectors to sensors and other microdevices. Dedicated to exceeding the vision of its customers worldwide, Epson delivers customer value based on compact, energy-saving, and high-precision technologies in markets spanning enterprise and the home to commerce and industry. Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises more than 81,000 employees in 97 companies around the world, and is proud of its ongoing contributions to the global environment and the communities in which it operates.