January 28 — Epson released its financial results for its third quarter ending Dec. 31, 2020.
Revenue of ¥278.8 billion was down ¥1.0 billion YoY. Demand, which slumped due to COVID-19, is rebounding to varying extents, depending on region and product. Supply continued to fall short of demand
Business profit of ¥31.1 billion was up ¥13.5 billion YoY due to expansion of strategic products, increased ink sales due to sustained at home print demand and maintenance of selling prices, and tightly contained costs
Profit for the period of ¥16.0 billion was up ¥3.7 billion YoY. The increase in business profit resulted in an increase in every profit category. A ¥3.6 billion impairment loss was recorded under other operating expenses in the wearable products business.
Revenue of ¥980.0 billion was down ¥63.6 billion YoY and revised upward by ¥20.0 billion vs. the previous outlook. The outlook reflects sales through Q3
Business profit: ¥50.0 billion (up ¥9.1 billion YoY and revised upward by ¥15.0 billion vs. the previous outlook)
Visit Epson’s Investor Relations site for the full report.
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