Komori
Earnings presentation6724SEIKO EPSON CORPORATIONElectrical and Precision Instruments

FY2026 (fiscal year ending March 2027) Second-Quarter Results Briefing Materials

In the second quarter, revenue and all profit measures exceeded the prior-year period, driven by favorable currency movements, pricing actions and US tariff refunds. The full-year forecasts for revenue and operating profit are unchanged, while the forecast for profit attributable to owners of the parent has been revised upward to ¥72 billion, reflecting an expected gain on the sale of an overseas factory.

Worth reading
69In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
30
¥100 million (increase in the full-year profit forecast from the previous forecast)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFY2026 (fiscal year ending March 2027) second quarter13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales3,739 Hundreds of millions of yen+7.9%
Operating profit426 Hundreds of millions of yen+150.5%
Ordinary income¥415 100 million +132.0%profit before tax
Net income¥317 100 million +162.8%profit for the year attributable to owners of the parent
Operating profit margin11.4 %
Selling, general and administrative expenses1,092 Hundreds of millions of yen
Results for the three months of the current quarter
Revenue
3,739 Hundreds of millions of yen
Business profit
450 Hundreds of millions of yen
Operating profit
426 Hundreds of millions of yen
Pretax profit
415 Hundreds of millions of yen
Profit for the period attributable to owners of the parent
317 Hundreds of millions of yen
Full-year earnings forecast
Revenue
15,100 Hundreds of millions of yen
Business profit
1,050 Hundreds of millions of yen
Operating profit
1,030 Hundreds of millions of yen
Pretax profit
1,000 Hundreds of millions of yen
Profit for the period attributable to owners of the parent
720 Hundreds of millions of yen
EPS
226.39 Yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Change in sales volume123 Hundreds of millions of yen
  • Price Volatility-12 Hundreds of millions of yen
  • Cost Fluctuations-62 Hundreds of millions of yen
  • Tariff refunds173 Hundreds of millions of yen
  • Foreign exchange fluctuations52 Hundreds of millions of yen
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • 156 Yen
    AssumptionsFull-year USD exchange rate
  • 179 Yen
    AssumptionsFull-year EUR exchange rate
  • 153 Yen
    AssumptionsUSD exchange rate from the third quarter onward
  • 174 Yen
    AssumptionsEUR exchange rate from the third quarter onward
  • 1,660 Approx. 10,000 units
    AssumptionsSOHO, Home & Office shared main-unit sales volume
New initiatives
  • Upward revision to the Precision Innovation sales plan
  • Global operations reform, including an expected gain on the sale of an overseas factory
  • Cancellation of all treasury shares acquired this time
Key KPIsA metric the company considers important as a management benchmark.
  • EPS99.07 Yen
  • USD exchange rate159.26 Yen
  • EUR exchange rate183.29 Yen
  • SOHO, Home & Office shared main-unit sales volume-9% year on year
    Year on year against the same period last year-9.0%
  • Projector unit sales-12% year on year
    Year on year against the same period last year-12.0%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • SOHO, Home & Office shared main-unit sales volume1,660 Approx. 10,000 units full-year forecast
  • SOHO and Home & Office shared-ink revenue growth rate2 % full-year forecast, yen basis
  • Projector unit sales130 Approx. 10,000 units full-year forecast
Segment results
  • Precision Innovation
    Revenue511 Hundreds of millions of yen (YoY +25.4%)
    Segment profit168 Hundreds of millions of yen (YoY +49.8%)
  • Industrial & Robotics
    Revenue829 Hundreds of millions of yen (YoY +12.4%)
    Segment profit140 Hundreds of millions of yen (YoY +203.9%)
  • Office & Home Printing
    Revenue1,715 Hundreds of millions of yen (YoY +2.4%)
    Segment profit191 Hundreds of millions of yen (YoY +59.6%)
  • Visual & Lifestyle
    Revenue674 Hundreds of millions of yen (YoY +6.8%)
    Segment profit99 Hundreds of millions of yen (YoY +75.5%)
Medium-term management plan targets
Target fiscal yearFY2028
Revenue
15,000 Hundreds of millions of yen
ROS
8 %
ROE
10 %
ROIC
8 %
Financial targets
ROE
FY2026 forecast8.5 %
Fiscal 2028 target10 %
ROIC
FY2026 forecast6.8 %
Fiscal 2028 target8 %
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
A negative ¥50 billion for fluctuations in materials and transportation costs has been incorporated into the full-year operating profit forecast. This indicates cost increases resulting from higher materials costs and crude oil prices.
Market Size / Share
Ranked first in Japan and the United States for the number of crystal device patents registered in 2025 (according to Epson research)
Capital expenditures
¥780 100 million FY2026 forecast
Annual Dividend
¥80 per share
Interim40
End of period40
Acquisition of treasury shares
Maximum amount300 Hundreds of millions of yen
Period7 August 2026 to 31 March 2027
ProgressApproximately 26% acquired as of the end of September 2026, on a value basis
Share cancellation policyAll treasury shares newly acquired this time will be cancelled
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFY2026 (fiscal year ending March 2027) second quarter
Net Sales3,739 Hundreds of millions of yen (YoY +7.9%)
Operating profit426 Hundreds of millions of yen (YoY +150.5%)
Ordinary income¥415 100 million (profit before tax) (YoY +132.0%)
Net income¥317 100 million (profit for the year attributable to owners of the parent) (YoY +162.8%)
Operating profit margin11.4 %
Selling, general and administrative expenses1,092 Hundreds of millions of yen
Results for the three months of the current quarterRevenue 3,739 Hundreds of millions of yen / Business profit 450 Hundreds of millions of yen / Operating profit 426 Hundreds of millions of yen / Pretax profit 415 Hundreds of millions of yen / Profit for the period attributable to owners of the parent 317 Hundreds of millions of yen
Full-year earnings forecastRevenue 15,100 Hundreds of millions of yen / Business profit 1,050 Hundreds of millions of yen / Operating profit 1,030 Hundreds of millions of yen / Pretax profit 1,000 Hundreds of millions of yen / Profit for the period attributable to owners of the parent 720 Hundreds of millions of yen / EPS 226.39 Yen
Segment resultsSegment Precision Innovation / Revenue 511 Hundreds of millions of yen (YoY +25.4%) / Segment profit 168 Hundreds of millions of yen (YoY +49.8%), Segment Industrial & Robotics / Revenue 829 Hundreds of millions of yen (YoY +12.4%) / Segment profit 140 Hundreds of millions of yen (YoY +203.9%), Segment Office & Home Printing / Revenue 1,715 Hundreds of millions of yen (YoY +2.4%) / Segment profit 191 Hundreds of millions of yen (YoY +59.6%), Segment Visual & Lifestyle / Revenue 674 Hundreds of millions of yen (YoY +6.8%) / Segment profit 99 Hundreds of millions of yen (YoY +75.5%)
Breakdown of Factors Affecting the ChangeFactors Change in sales volume / Amount 123 Hundreds of millions of yen, Factors Price Volatility / Amount -12 Hundreds of millions of yen, Factors Cost Fluctuations / Amount -62 Hundreds of millions of yen, Factors Tariff refunds / Amount 173 Hundreds of millions of yen, Factors Foreign exchange fluctuations / Amount 52 Hundreds of millions of yen
Key KPIsIndicator EPS / Value 99.07 Yen / Year on year against the same period last year Not disclosed, Indicator USD exchange rate / Value 159.26 Yen / Year on year against the same period last year Not disclosed, Indicator EUR exchange rate / Value 183.29 Yen / Year on year against the same period last year Not disclosed, Indicator SOHO, Home & Office shared main-unit sales volume / Value -9% year on year / Year on year against the same period last year -9 Growth rate, Indicator Projector unit sales / Value -12% year on year / Year on year against the same period last year -12 Growth rate
Unit price and quantity metricsIndicator SOHO, Home & Office shared main-unit sales volume / Value 1,660 Approx. 10,000 units (full-year forecast), Indicator SOHO and Home & Office shared-ink revenue growth rate / Value 2 % (full-year forecast, yen basis), Indicator Projector unit sales / Value 130 Approx. 10,000 units (full-year forecast)
Assumptions Underlying the Business OutlookAssumptions Full-year USD exchange rate / Value 156 Yen, Assumptions Full-year EUR exchange rate / Value 179 Yen, Assumptions USD exchange rate from the third quarter onward / Value 153 Yen, Assumptions EUR exchange rate from the third quarter onward / Value 174 Yen, Assumptions SOHO, Home & Office shared main-unit sales volume / Value 1,660 Approx. 10,000 units
Risk amount incorporated into the outlookA negative ¥50 billion for fluctuations in materials and transportation costs has been incorporated into the full-year operating profit forecast. This indicates cost increases resulting from higher materials costs and crude oil prices.
Medium-term management plan targetsTarget fiscal year FY2028 / Revenue 15,000 Hundreds of millions of yen / ROS 8 % / ROE 10 % / ROIC 8 %
Financial targetsROE FY2026 forecast 8.5 % / Fiscal 2028 target 10 % / ROIC FY2026 forecast 6.8 % / Fiscal 2028 target 8 % / Equity ratio Not disclosed
Annual Dividend¥80 per share
Acquisition of treasury sharesMaximum amount 300 Hundreds of millions of yen / Period 7 August 2026 to 31 March 2027 / Progress Approximately 26% acquired as of the end of September 2026, on a value basis / Share cancellation policy All treasury shares newly acquired this time will be cancelled
Capital expenditures¥780 100 million (FY2026 forecast)
Market Size / ShareRanked first in Japan and the United States for the number of crystal device patents registered in 2025 (according to Epson research)
New initiativesUpward revision to the Precision Innovation sales plan, Global operations reform, including an expected gain on the sale of an overseas factory, Cancellation of all treasury shares acquired this time
Items this document does not state (8)
Gross Profit MarginProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesPayout ratioOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Profit increased in the second quarter, driven by expanded sales centered on Precision Innovation, pricing actions and US tariff refunds. For the full year, the sales plan for Precision Innovation has been revised upward, while the projected number of office and home printing units sold has been reduced because of difficulties sourcing electronic components and circuit boards, with the impact of higher materials costs and crude oil prices additionally incorporated. The company also expects to record a gain on the sale of an overseas factory as part of its global operations reform.

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