News Release

Financial Results for the Year ended March 31, 2021 [IFRS] (Consolidated)

April 28, 2021
Stock Listing: TOKYO

Name of the listed company: SEIKO EPSON CORPORATION

Code: 6724URL: global.epson.com

Representative: Yasunori Ogawa, President

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

Scheduled date of Annual Shareholders Meeting: June 25, 2021

Scheduled starting date of payment for the dividends: June 28, 2021

Scheduled date to file Annual Securities Report: June 28, 2021

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, 2021 (From April 1, 2020 to March 31, 2021)

(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, 2021
995,940 △4.6 61,642 50.9 47,654 20.7 44,933 13.1 30,995 296.2 30,922 299.9
Year ended
March 31, 2020
1,043,600 △4.2 40,861 △42.0 39,479 △44.7 39,713 △44.9 7,823 △85.5 7,733 △85.6

Note:

Total comprehensive income for the period: Year ended March 31, 2021 ¥68,818 million (-%)
Year ended March 31, 2020 (¥3,869) million (-%)

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, 2021 89.38 89.35 5.9 5.6 6.2
Year ended March 31, 2020 22.26 22.25 1.5 3.9 3.9

*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, 2021 ¥99 million
Year ended March 31, 2020 ¥77 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, 2021 1,161,314 552,949 550,924 47.4 1,592.36
As of March 31, 2020 1,040,910 506,037 503,746 48.4 1,456.20

(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, 2021 133,222 (57,448) 23,150 304,007
Year ended March 31, 2020 102,324 (76,131) (283) 196,245

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, 2020 - 31.00 - 31.00 62.00 21,463 278.5 4.1
Year ended March 31, 2021 - 31.00 - 31.00 62.00 21,463 69.4 4.1
Year ending March 31, 2022(Forecast) - 31.00 - 31.00 62.00   56.4  

* Dividend payout ratio for the fiscal year ending in March 2021 has not been calculated because the consolidated financial outlook has not been finalized.

3. Forecast for the Year ending March 31, 2022 (From April 1, 2021 to March 31, 2022)

(%: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, 2022 1,070,000 7.4 60,000 △2.7 57,000 19.6 55,000 22.4 38,000 22.6 38,000 22.9 109.83

*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: None
  2. Changes in accounting policies other than the changes above: None
  3. Changes in accounting estimates: None

(3) Number of shares outstanding

(share)

1. Issued shares (including treasury shares): As of March 31, 2021 399,634,778 As of March 31, 2020 399,634,778
2. Treasury shares: As of March 31, 2021 53,655,825 As of March 31, 2020 53,703,521
3. Average number of shares: Year ended
March 31, 2021
345,968,147 Year ended
March 31, 2020
347,393,498

(Reference) Summary of Non-Consolidated Financial Results
1. Results of the Year ended March 31, 2021 (From April 1, 2020 to March 31, 2021)

(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, 2021 714,821 △0.1 (528) - (2,422) - (1,293) -
Year ended March 31, 2020 715,768 △9.5 (27,434) - (8,370) - (17,240) -
  Basic earnings per share Diluted earnings per share
  Yen Yen
Year ended March 31, 2021 (3.74) -
Year ended March 31, 2020 (49.63) -

(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, 2021 733,553 308,904 42.1 892.84
As of March 31, 2020 678,957 331,393 48.8 957.97

(Reference) Shareholders' equity: As of March 31, 2021 ¥308,904 million As of March 31, 2020 ¥331,393 million

  • * This report is not audited 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 "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 Wednesday, April 28, 2021 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 ¥110.685 = U.S.$1 at the end of the reporting period has been used for the purpose of presentation.

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