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    News Release

    Revision of Year-End Dividend Outlook, Share Splits and Partial Amendment to the Articles of Incorporation

    - TOKYO, Japan, January 30, 2015 -

    Seiko Epson Corporation (TSE: 6724, "Epson") today announced that its board of directors had approved a revision of the Company's year-end dividend outlook, share splits and a partial amendment to the articles of incorporation.

    1. Revision of year-end dividend outlook (year ending March 31, 2015)

    (1) Outline of revision

      Dividend per share (yen)
    Period Interim Year end Total
    Previous outlook - 35.00 70.00
    Revised outlook   80.00 115.00
    Actual 35.00    
    Previous (year ended March 31, 2014) 13.00 37.00 50.00

    (2) Reasons for revision

    Based on its previously announced policy of implementing a 30% dividend payout ratio, Epson plans to raise its full-year dividend outlook to 115 yen from the previous 70 yen. With the results of the third quarter, including the critical year-end selling season, now clear, and the outcome of the full-year results becoming increasingly apparent, Epson believes that its efforts to improve financing and strengthen its financial structure are finally bearing fruit. The company accordingly plans to raise its year-end dividend outlook by 45 yen to 80 yen from the previous 35 yen.

    Note that when calculating this dividend, Epson eliminated the effects of certain factors affecting net income for the current fiscal year including income from the amendment of the defined benefit plan accompanying last April's decline in expenses associated with past service costs and special factors such as a reduction in tax expenses accompanying net operating tax loss carry-forwards.

    The year-end dividend is subject to the approval of the shareholders' meeting, planned for June 2015.

    2. Share splits

    (1) Purpose

    Epson, in the light of recent share price trends, aims to make it easier for investors to invest in the Company and expand its investor base by reducing the investment unit amount of the Company's shares and enhancing the liquidity of its common shares.

    (2) Method

    Each share of the Company's common shares held by registered shareholders as of the basis date of March 31, 2015, will be split into two shares.

    (3) Increase in shares as a result of the splits (as of January 30, 2015)

    a. Total number of shares issued prior to the share splits (including treasury shares)

    199,817,389

    b. Increase in the number of shares due to the share splits

    199,817,389

    c. Total number of shares issued after the share splits

    399,634,778

    d. Total number of shares authorized to be issued after the share splits

    1,214,916,736

    (4) Schedule

    a. Public notice of basis date

    March 16, 2015

    b. Basis date

    March 31, 2015

    c. Effective date

    April 1, 2015

    (5) Other

    a. Paid-in capital
    Epson will not change the amount of its paid-in capital as a result of the share splits.

    b. Year-end dividend
    Because the basis date for the year-end dividend is on March 31, Epson plans to pay a year-end dividend of 80 yen per share based on the number of shares issued prior to the share splits.

    3. Partial amendment to the articles of incorporation

    (1) Reason
    Effective April 1, 2015, Epson will, subject to a resolution by its board of directors, amend Article 6 of its articles of incorporation, "Total number of shares authorized to be issued" pursuant to Article 184 paragraph 2 of the Companies Act of Japan.

    (2) Details of revision

    (underlined section revised)

    Before change After change
    Article 6 Total number of authorized shares
    1. The Company shall be authorized to issue a total of 607,458,368 shares.
    Article 6 Total number of authorized shares
    1. The Company shall be authorized to issue a total of 1,214,916,736 shares.

    (3) Date of revision

    Effective date

    April 1, 2015

    About Epson
    Epson is a global innovation leader dedicated to exceeding expectations with solutions for markets as diverse as the office, home, commerce and industry. Epson's lineup ranges from inkjet printers, printing systems and 3LCD projectors to industrial robots, smart glasses and sensing systems and is based on original compact, energy-saving, and high-precision technologies.
    Led by the Japan-based Seiko Epson Corporation, the Epson Group comprises more than 72,000 employees in 94 companies around the world, and is proud of its ongoing contributions to the global environment and the communities in which it operates.
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