SEIKO EPSON, The Current Fiscal Year Net Income Revised Upward by 11%

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Fri Jan 31, 2025 3:30 pm JST Earnings

6724 SEIKO EPSON CORPORATION 【IFRS】

Earnings Report

SEIKO EPSON CORPORATION <6724> [TSE Prime] announced its financial results (based on IFRS) after the market closed on January 31st (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 11.6% from the same period last year, reaching 47.3 billion yen.

In addition, the full-year consolidated net income has been revised upward 10.6%, from the previous forecast of 47 billion yen to 52 billion yen (compared to 52.6 billion yen in the previous period), and the declining rate is expected to decrease from 10.7% to 1.2%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) is expected to increase 21.1%, from the previous forecast of 23.7 billion yen to 28.7 billion yen (compared to 25.1 billion yen in the same period of the previous year), turning to a 14.3% increase in the consolidated net income outlook.

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 60.8% from the same period last year, reaching 24 billion yen. The operating profit margin improved from 6.7% in the same period last year to 8.0%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	994,404	82,544	88,294	61,448	179.4	85.1	Jan 31, 2023	IFRS
Apr - Dec, 2023	992,101	51,697	59,644	42,468	128.1	85.1	Feb 2, 2024	IFRS
Apr - Dec, 2024	1,023,819	62,867	67,208	47,379	144.1	89.6	Jan 31, 2025	IFRS
YoY	+3.2%	+21.6%	+12.7%	+11.6%	+12.5%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	665,802	33,061	34,148	23,720	74.1	37	Nov 1, 2024	IFRS
Oct - Mar, 2024 New	685,802	37,061	42,148	28,720	89.7	37	Jan 31, 2025	IFRS
Revision Rate	+3.0%	+12.1%	+23.4%	+21.1%	+21.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,340,000	68,000	67,000	47,000	146.8	74	Nov 1, 2024	IFRS
Mar, 2025 New	1,360,000	72,000	75,000	52,000	162.4	74	Jan 31, 2025	IFRS
Revision Rate	+1.5%	+5.9%	+11.9%	+10.6%	+10.6%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	675,465	29,600	31,731	25,137	75.8	37	Apr 26, 2024	IFRS
Oct - Mar, 2024 Guidance	685,802	37,061	42,148	28,720	89.7	37	Jan 31, 2025	IFRS
YoY	+1.5%	+25.2%	+32.8%	+14.3%	+18.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	1,330,331	97,044	103,755	75,043	220.8	72	Apr 28, 2023	IFRS
Mar, 2024	1,313,998	57,533	70,094	52,616	158.7	74	Apr 26, 2024	IFRS
Mar, 2025 Guidance	1,360,000	72,000	75,000	52,000	162.4	74	Jan 31, 2025	IFRS
YoY	+3.5%	+25.1%	+7.0%	-1.2%	+2.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	353,568	23,764	21,281	14,989	45.2	6.7	Feb 2, 2024	IFRS
Jan - Mar, 2024	321,897	5,836	10,450	10,148	30.6	1.8	Apr 26, 2024	IFRS
Apr - Jun, 2024	336,614	22,468	26,891	19,160	57.8	6.7	Jul 31, 2024	IFRS
Jul - Sep, 2024	337,584	12,471	5,961	4,120	12.5	3.7	Nov 1, 2024	IFRS
Oct - Dec, 2024	349,621	27,928	34,356	24,099	73.3	8.0	Jan 31, 2025	IFRS
YoY	-1.1%	+17.5%	+61.4%	+60.8%	+62.2%