The OEM stated that “the global economy continued its gradual economy” during the year being reviewed.
Epson said that in the US the economy showed continued recovery due to an increase in “consumer spending” but the slowdown in Latin America continued and that Europe’s economy was also gradually recovering as was that of China and Japan.
The company also stated that the “demand for inkjet printers was stagnant” and this was because of the shrinking consumer market in Japan, North America and Western Europe. However there was a strong demand for ink tank printers.
Epson said that the global economy is expected to “gradually recover in the 2017 fiscal year” and that recovery was centred on “manufacturing” causing a rise in exports.
Revenue for the company was ¥1,024.8 billion($9,135,003/€8,343,911) which was down 6.2 percent YOY and business profit was down 22.5 percent to ¥65.8 billion ($586,568 /€535,853). Operating profit was also down by 27.8 percent YOY to ¥67.8 billion ($605,151 /€552,744) and profit before tax was ¥67.4 billion ($601,390 /€549,309) which was down 26.3 percent YOY. Profit for the period was up 5.1 percent YOY to ¥48.4 billion ($431,642 /€394,261).