Epson Releases Q4 and Full-year Financial Results

Epson Releases Q4 and Full-year Financial Results

Epson recently released its financial results for the fiscal year 2023, concluding in March 2024, which also included the outcomes for the fourth quarter.

Despite the printer market’s steady expansion and fluctuations in foreign exchange rates, Epson encountered challenges stemming from the global economic slowdown, limited customer investments, and inventory reductions. Consequently, Epson fell short of its initial financial targets and anticipated an even more demanding economic landscape.

In the fourth quarter, revenue and business profit stood at JPY ￥321.8 billion and JPY ￥10.3 billion, respectively, marking declines of 4.2% and 27.6% compared to the same period last year. Alongside the aforementioned factors, external shifts such as the economic slowdown in China and the emergence of Chinese manufacturers posed further obstacles to earnings improvement. While sales of SOHO and home inkjet printers declined due to market sluggishness, revenue from shared printers remained stable, primarily driven by robust ink sales.

For the entire fiscal year 2023, total revenue amounted to JPY ￥1,313.9 billion, with a business profit of JPY ￥64.7 billion, reflecting declines of 1.2% and 30.3%, respectively. The decrease was notably observed in the sales of high-capacity ink tanks and prices for office and home inkjet printers. Epson attributed the decline in revenue from SOHO and home inkjet printers to a decrease in hardware selling prices compared to fiscal 2022 when prices remained high. On the other hand, growth in office shared inkjet printers was driven by the introduction of medium-speed models, which expanded Epson’s dealer and customer base.

Related:

• Epson Introduces A4 Addition to LM Series
• Epson Introduces Trade-in Program for EcoTank Series
• Canon and Epson Move to EcoTank Ink Printer Technologies

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