SUWA, Japan – November 2023 – Seiko EPSON has released its financial report for the quarter ending September 2023, revealing a 3.4% decrease in sales and a substantial 67% decline in profits. The company reported sales of USD 2.96 billion (Yen323.6 billion), reflecting a reduction from the Q2 2022 figure of USD 3.06 billion (Yen335.2 billion). Earnings for the current quarter stood at USD 80.61 million (Yen8.8 billion), significantly down from the Q2 2022 earnings of USD 245.59 million (Yen26.8 billion).
In the realm of Printing News, Seiko EPSON stated, “Revenue in the office and home printing business increased. While unit sales of ink cartridge printers sharply decreased, inkjet printer revenue slightly increased. Revenue benefitted from an increase in unit sales of high-capacity ink tank printers, sharp growth in sales of office shared inkjet printers with the launch of a new line head of inkjet printers, and positive foreign exchange effects. In inkjet printer consumables, ink cartridge sales increased slightly due to positive foreign exchange effects, while sales of ink bottles for high-capacity ink tank printers and ink for office shared printers sharply increased.
Revenue in the commercial and industrial printing business increased. Commercial and industrial inkjet printer revenue decreased because unit sales declined in Europe and North America, where investment demand fell along with rising interest rates. Sales of consumables for commercial and industrial inkjet printers increased on continuing print demand. Sales of small printers increased due to positive foreign exchange effects, though market demand declined in Europe and North America as inflation and other factors caused the market to deteriorate.
Revenue in the printhead sales business sharply increased primarily owing to increased demand in China.”
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