Notice of Revision to Defined Benefit Corporate Pension System

- TOKYO, Japan, April 3, 2014 -

Seiko Epson Corporation (TSE: 6724, "Epson"), has received approval from the Japanese Ministry of Health, Labour and Welfare to revise its defined benefit corporate pension system for domestic employees.

1. Reasons for revision

To date, Epson in Japan has operated its own defined benefit corporate pension system with the aim of allowing domestic employees to concentrate on their work without having to worry about life after retirement. The company has, however, been forced to review its system for both current employees and existing pension recipients in light of declining returns from this pension fund and an increasing number of recipients.

Epson therefore sought to rebuild its corporate pension system to enable it to react to changes in society and to facilitate stable fund operations going forward. With the approval of the Japanese Ministry of Health, Labour and Welfare, Epson has implemented a change to its defined benefit corporate pension system for domestic employees.

2. Impact on financial results

This revision will not impact financial results for the year ending March 2014. For the year ending March 2015, however, Epson forecasts a decline in expenses associated with retirement benefit obligations. The company is currently calculating the impact of this on financial results, and will disclose its findings when the figures have been determined.

About Epson
Epson is a global innovation leader whose product lineup ranges from inkjet printers and printing systems, 3LCD projectors and industrial robots 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 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.