Epson Reports Mixed Results for Q1

Epson Reports Mixed Results for Q1

According to Epson, its revenue turned out to be JPY￥314.84 billion (US$2.21 billion) in the first quarter ended June 30, 2023 (Q1, 2023), up 5.7% year-over-year. However, business profit decreased to JPY￥15.60 billion (US$109.38 million) in Q1, down 31.1% year-over-year.

Profit from operating activities also decreased, down 36.8% year-over-year to JPY￥19.71 billion (US$138.15 million). Profit before tax was JPY￥28.27 billion (US$198.15 million), down 23.7% year-over-year. Profit for the period turned out to be JPY￥20.19 billion (US$141.52 million), down 24.3% year-over-year. In Q1, profit attributable to owners of the parent company was reported to be JPY￥20.19 billion (US$141.52 million), down 24.3% year-over-year.

For the year ending March 31, 2024, Epson foresees revenue to be JPY￥1380.00 billion (US$9.67 billion), up 3.7% year-over-year. Business profit is expected to increase 5.1% to JPY￥100.00 billion (US$700.89 million), compared to last year. Profit from operating activities is expected to reach JPY￥96.00 billion (US$672.87 million), down 1.1% year-over-year, while profit before tax is expected to reach JPY￥101.00 billion (US$707.92 million), down 2.7% year-over-year. Profit for the period is expected to reach JPY￥72.00 billion (US$504.65 million), down 4.1% year-over-year.

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