News Release

Financial Results for the Year ended March 31, 2019 [IFRS] (Consolidated)

April 26, 2019
Stock Listing: TOKYO

Name of the listed company: SEIKO EPSON CORPORATION

Code: 6724URL: global.epson.com

Representative: Minoru Usui, President

Inquiries: Tatsuaki Seki, Director, Executive Officer Tel: +81-266-52-3131

Scheduled date of Annual Shareholders Meeting: June 26, 2019

Scheduled starting date of payment for the dividends: June 27, 2019

Scheduled date to file Annual Securities Report: June 27, 2019

Reference materials regarding financial results for the period: Yes

Briefing on financial results: Yes (for Analysts)

(Amounts are rounded down to the nearest million yen)

1. Results of the Year ended March 31, 2019 (From April 1, 2018 to March 31, 2019)

(1) Consolidated Operating Results

(%: Change from the previous year)

  Revenue Business Profit Profit from operating activities Profit before tax Profit for the period Profit for the period attributable to owners of the parent company
  Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen %
Year ended
March 31, 2019
1,089,676 △1.1 70,498 △5.7 71,355 9.8 72,040 15.0 54,044 29.4 53,710 28.4
Year ended
March 31, 2018
1,102,116 7.5 74,785 13.6 65,003 △4.3 62,663 △7.1 41,764 △13.8 41,836 △13.4

Note:

Total comprehensive income for the period: Year ended March 31, 2019 ¥49,542 million (19.1%) Year ended March 31, 2018 ¥41,581 million (△25.7%)

Business profit is calculated by subtracting Cost of sales and Selling, general and administrative expenses from Revenue.

  Basic earnings
per share
Diluted earnings
per share
ROE*1 ROA*2 ROS*3
  Yen Yen % % %
Year ended March 31, 2019 152.49 152.44 10.2 6.8 6.5
Year ended March 31, 2018 118.78 118.75 8.3 7.4 6.8

*1 Profit for the period attributable to owners of the parent company / Equity attributable to owners of the parent company (avg. balance)
*2 Business profit / Total assets (avg. balance)
*3 Business profit / Revenue

Reference: Equity gains (losses) of affiliates: Year ended March 31, 2019 ¥99 million Year ended March 31, 2018 ¥74 million

(2) Consolidated Financial Position

  Total assets Total equity Equity attributable to owners of the parent company Equity attributable to owners of the parent company ratio Equity attributable to owners of the parent company, per share
  Millions of yen Millions of yen Millions of yen % Yen
As of March 31, 2019 1,038,389 542,747 540,181 52.0 1,533.57
As of March 31, 2018 1,033,350 515,106 512,727 49.6 1,455.67

(3) Consolidated Cash Flows

  Net cash from (used in) operating activities Net cash from (used in) investing activities Net cash from (used in) financing activities Cash and cash equivalents at end of period
  Millions of yen Millions of yen Millions of yen Millions of yen
Year ended March 31, 2019 76,961 (82,738) (49,430) 175,238
Year ended March 31, 2018 84,279 (74,661) 37 229,678

2. Cash Dividends

  Cash dividends per share Total cash
dividends
Dividend
payout ratio
Ratio of dividends to equity attributable to owners of the parent company
1st Quarter 2nd Quarter 3rd Quarter Year End Year Total
  Yen Yen Yen Yen Yen Millions of yen % %
Year ended March 31, 2018 - 30.00 - 32.00 62.00 21,848 52.2 4.3
Year ending March 31, 2019 - 31.00 - 31.00 62.00 21,848 40.7 4.1
Year ending March 31, 2020(Forecast) - 31.00 - 31.00 62.00   48.5  

3. Forecast for the Year ending March 31, 2020 (From April 1, 2019 to March 31, 2020)

(%:Change from same period previous year)

  Revenue Business Profit Profit from operating activities Profit before tax Profit for the period Profit for the year attributable to owners of the parent company Basic earnings per share
  Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % Yen
For the year ending
March 31, 2020
1,130,000 3.7 65,000 △7.8 60,000 △15.9 59,000 △18.1 45,000 △16.7 45,000 △16.2 127.75

*Notes

(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting from changes in the scope of consolidation): None

(2) Changes in accounting policies, or changes in accounting estimates

  1. Changes in accounting policies required by IFRS: Yes
  2. Changes in accounting policies other than the changes above: None
  3. Changes in accounting estimates: Yes

For details, please refer to page 12 "2. Changes in Accounting Policies" and page 13 "3. Changes in Accounting Estimates".

(3) Number of shares outstanding

(share)

1. Issued shares (including treasury shares): As of March 31, 2019 399,634,778 As of March 31, 2018 399,634,778
2. Treasury shares: As of March 31, 2019 47,397,639 As of March 31, 2018 47,406,139
3. Average number of shares: Year ended
March 31, 2019
352,231,945 Year ended
March 31, 2018
352,227,639

(Reference) Summary of Non-Consolidated Financial Results
1. Results of the Year ended March 31, 2019 (From April 1, 2018 to March 31, 2019)

(1) Non-Consolidated Operating Results

(%:Change from same period previous year)

  Net sales Operating profit Ordinary profit Profit
  Millions of yen % Millions of yen % Millions of yen % Millions of yen %
Year ended March 31, 2019 790,424 △3.2 8,480 △45.7 33,896 △21.7 30,629 △25.7
Year ended March 31, 2018 816,898 10.7 15,623 80.2 43,272 70.5 41,220 29.9
  Basic earnings per share Diluted earnings per share
  Yen Yen
Year ended March 31, 2019 86.96 -
Year ended March 31, 2018 117.03 -

(2) Non-consolidated Financial Position

  Total assets Net assets Equity-to-asset ratio Net assets per share
  Millions of yen Millions of yen % Yen
As of March 31, 2019 694,487 380,400 54.8 1,079.96
As of March 31, 2018 736,995 373,873 50.7 1,061.45

(Reference) Shareholders' equity: As of March 31, 2019 ¥380,400million As of March 31, 2018 ¥373,873million

  • * This report is not reviewed by Certified Public Accountants nor Auditors.
  • * Explanation of appropriate use of forecast and other special items

    (Cautionary Statement Concerning Forward-looking Statements)
    This report includes forward-looking statements that are based on management's view from the information available at the time of the announcement. These statements are subject to various risks and uncertainties. Actual results may be materially different from those discussed in the forward-looking statements. The factors that may affect Epson include, but are not limited to, general economic conditions, the ability of Epson to continue to timely introduce new products and services in markets, consumption trends, competition, technology trends, and exchange rate fluctuations.
    Assumptions for the forecasts and warnings for users of the forecasts are available on page 4 "4. Outlook".

  • (How to access supplementary explanations and details of briefing on financial results)
    The Company is scheduled to hold a briefing for analysts on financial results on Friday, April 26, 2019 and to post materials used at the briefing on the Company's website on that day.
  • U.S. dollar amounts are presented for the convenience of the readers. This translation should not be construed to imply that the yen amounts actually represent, or have been or could be converted into, equivalent amounts in U.S. dollars. The exchange rate of ¥110.87 = U.S.$1 at the end of the reporting period has been used for the purpose of presentation.

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