Difference between Forecast and Actual Results for the Year Ended March 2020
- TOKYO, Japan, April 30, 2020 -
Seiko Epson Corporation (TSE: 6724, "Epson") has announced a difference between the forecast for the year ended March 2020, announced on January 31, and the actual results announced today.
1. Difference between forecast and actual results for the year ended March 2020 (April 1, 2019 to March 31, 2020)
|Revenue||Business profit||Profit from operating activities||Profit before tax||Profit for the period||Profit for the period attributable to owners of the parent company||Net income per share|
|Millions of yen||Millions of yen||Millions of yen||Millions of yen||Millions of yen||Millions of yen||yen|
|Previous forecast (A)||1,060,000||42,000||37,000||36,000||27,000||27,000||78.05|
|Actual results (B)||1,043,600||40,861||39,479||39,713||7,823||7,733||22.26|
Results for the year ended March 2019
Business profit is calculated by subtracting cost of sales and selling, general and administrative expenses from revenue.
2. Reasons for the difference
Revenue and business profit were below the previous forecast due to the impact of the novel coronavirus pandemic. On the other hand, profit from operating activities and profit before tax exceeded the forecast due to insurance proceeds.
Profit for the period was below the previous forecast due to an increase in tax expenses accompanying a reversal of recoverable deferred tax assets, resulting from a review of the recoverable amount.
Epson is a global technology leader dedicated to becoming indispensable to society by connecting people, things and information with its original efficient, compact and precision technologies. The company is focused on driving innovations and exceeding customer expectations in inkjet, visual communications, wearables and robotics. Epson is proud of its contributions to realizing a sustainable society and its ongoing efforts to realizing the United Nations' Sustainable Development Goals.
Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of more than JPY 1 trillion.