Epson to Construct New Printer and Projector Plant in the Philippines

- Invests 12.3 Billion Yen in Plant to Commence Operations in Spring 2017 -

Seiko Epson Corporation (TSE: 6724, "Epson") today announced it will invest 12.3 billion yen in manufacturing subsidiary Epson Precision (Philippines) Inc. to construct a new plant for increasing inkjet printer and 3LCD projector production volumes. The state-of-the-art facilities will be constructed inside the existing site by the early part of 2017, with operations slated to begin in the spring of that year.

Epson plans to install a mega solar power generation system with a capacity of approximately 3,000 kWh on the roof of the new plant. This system will reduce overall daytime electricity consumption at Epson Precision (Philippines) by half.

As it implements its mid-range business plan, Epson has determined that its current inkjet printer and projector manufacturing facilities in China, Indonesia and the Philippines are insufficient to meet expected demand. In inkjet printers, the company is forecasting the need to significantly boost production capacity for its core high-capacity ink tank models, which are currently experiencing rapid growth, and also for office inkjets, which are beginning to make steady inroads into the market. Epson also sees the need to increase projector production as it expands its lineup. With growing demand for projectors used in business and education, expanding commercial applications, and increasing penetration in emerging economies, Epson forecasts its growth will surpass that of the market.

Epson plans to increase the workforce of Epson Precision (Philippines) to approximately 20,000 from the current 12,500* to respond to the planned increase in production.

The construction of this plant will have no material impact on Epson's business results for the fiscal year ending March 2015.

* Future production and workforce estimates are subject to change according to circumstances.