Seiko Epson Corp. · TSE:6724
Seiko Epson — FY2015 Earnings Presentation
35 slides from Seiko Epson's earnings presentation, April 2016
Slide 1: EPSON Exceed Your Vision
EPSON EXCEED YOUR VISION 201547 (201643A A) 4+ RAaRWS 20167745288 PII-LIVy HAAH (SEIKO EPSON CORPORATION 2016. All nights reserved
Slide 2: | B PRRBLICRDSicMICUTOFR SA
| B PRRBLICRDSicMICUTOFR SA AARC RAN CSTE ROMMUICMT SBS, 2A CAF OEM BIG ROP MCS), MERU ZIPFHEBRESANEOCS. COLD, RMHORMI2ESERBRICL, RAN RMLEAR AGS RLG ORS CLETUS ACA, ROMA BMBESAISBRLE TS. ABLUBAOAAS, MBCEISITY OMG - MY —-CADMT - Ht CENSCNISMEOMM), MERPLAOMLLOME, F7/0F-ODE, BMOMMBEVARNES. BS, RMB CEME
Slide 3: 201543 iaHAB
201543 iaHAB 20164 iBRASIA PAG 2015S S64 0-+RARS SM 201647 E A475 iL FREIEIC
Slide 4: FY2015 Results
“a 20155 ikPRA 201647 iH PAG
Slide 5: FY2015 Results Summary
Ph coiseesesee457h EPSON RM % | 128% Me 10,863 - 11,000 - 10,924 - (‘Si - 7% 1,012 9.3% 820 7.5% 849 7.8% Big: _ Ries) 1,313 12.1% -373) (-72) +30 %1(1,013) (9.3%) Sto! 80% DSO | Bens -28.4%| (-7.2%) +3.3% 1,325 12.2% -410 (-109) +35 (1,024) (9.4%) 650) 2 sae da -30.9% (-10.7%) +4.0% 1,127 10.4% ; ~
Slide 6: FY2015 Operating Income Variance Analysis
Ae 20154 EMD BALIXD Kal (@F)) 10,863 11,000 110,524 (@m) 1,012 820 14,000 ja 61,600 BRA -163 12,000 10,000 8,000 6,000 4,000 2,000 s)—_| Ste -Wmeeen FEL +55 PRA -67 SS a oer cme FY2014 FY2015 ‘FY2015 FY2014 -FY2015 “FY2015 RM MOM RM MOF! RM FEMA -31 | pencstoall 4
Slide 7: Factors Affecting Operating Income
Ph cisterns semy sense Lunes EPS« 8,000 —_ 2470 FARR 7,000 memmit -60 6,000 ALR Fy2014 «-FY2015 4,000 3,000 SIOM | FY2014 FY2015 FY2015 S03 | RA MOF! RH
Slide 8: FY2015 Results by Segment
PP roiseeowis OtaIRRCIREAORDIe) EPSON + FHASBREURDRLATIELIEDM, BLES (CHE DC BRO MASS SECS HG + PREIS ROMR — L-O-KiReERLEBHKRIOLIII— — 68ROAYhORDU-—Z (NSV—Z) — ADARMHEPaperLab — S409 SRDS U4 -OWE + WERE BOF <a | | — SXiISA : 694487 (AURAL +23918F) | FHUED, 4 ERY TIGRE TIEN - — IRIMEER- RAS : S498 (AR
Slide 9: FY2015 Results by Segment
Pr 201see0wis (ORE) EPSON © Wy IWa-yayX ~ 4YIDLIbTVYY-ld, MATOE-SI BUCCAL BATE FB ABEL IID TET IAF, MIFOMARBICEN795_ LEH — SIDMId, TBBD RPAH I Sb, PHA BNR IE HIICES — APIDUSI—ld, TRG, SED EO MDE ~ POSTY9—ld, SEEBICHES + EvaPIza=y-Tay — FOIII9—Id. ADEE ARTE AMIEL, PLU DAIS 5 (CLE * QLVS7))- ERI ~ DAY
Slide 10: Piezo Printhead Business
Vv PP 2o1seeoess (PIEZO) EPSON + (YOR EMS RIE OUCH — LY-DL 7 ithiak- eit BN LORD SIE BAT AD HE + REMY IID IEF USI <DPAHRARFEESER (455 MEt) C4 >-O7E_ LURES HEED (6) OKBMIYIILIF I LB ADA ({8F9) 10,000 me KL (G08, SOMPFELSMEFY201SL—h TM) 2,500 -=—< 8,000 —_ 6,000 4,000 fa 2,000 at 0 rn Se 1,000 Fy2010
Slide 11: Results Detail
Vv | er EPSON ¢ BBR WOR BARC. TRACI RBBB Bl - RBIS Fe RHHLEET. BRAM tAALeS $900 BUMMER af ~~ 2a eRe oy 10:2 29 OS 2 ER ioc ee 5 te “160-23 B zn 849 0 EEN seers ——— FY2014 FY2015 2) 201SS RRM RB CHT. MADONNA ARERELIET, MIRA), MH BLEMRERALTUET. *: SRMMCTAPRUSCI OSCR L ORC RAG 10
Slide 12: Results Detail
PO corse xr 7.0% 6.8% 6.7% 5.2% ‘eaeen -624 -129 -240 -225 +79 SS -5.7% -15.2% -25.6% -24.6% +17.2% 11
Slide 13: FY2016 Exchange Rate Assumptions
| ete eto Om mm 2014SF | 201546 2016 RM RR FR (FQ) (9) HKD USD 109.93 «120.14 105.00 3-0 EUR 138.77 132.58 120.00 AR CNY 17.74. 18.85 4YEE- INR 1.81 1.85 x$aRY MXN 7.96 7.23 psi JSSWP BRL 44.39 33.53 EoKn = ha a Boh) FEEM ES - +148/8F =A#)1,000/89 BERR Wasi wma - A17718F #9230183 20164 opel: 4 (FEMS
Slide 14: FY2016 Operating Income Forecast
ear ee ee EPSON FEEWRR -74 ‘| misefues | +11 FLW -110 (| BRR 5S | AREIRA -413 MRAM -117 FY2015 -FY2016 FY2015 Fy2016 «| maEHzs «= -13 13
Slide 15: FY2016 Forecast
| ee ee ae EPSON FY2015 FY2016 FY2015 FY2016 eM Fa RH ic 14
Slide 16: FY2016 Segment Outlook
| A © Wryr4IVWa-yay zx — KBB IID DEF ILOUMA UCLA IRAE R — 4A BRAD ID NUD 9 —-OFS A — SIDMICSUSPHOMR MERE CHI SRRAM — FOI Yat NWIUY F414 IORRD CHI SHBROME © EDs IIE1=a Yay — RFD COPLEY Aa bCL — HERMETIC LS BERD HOUMA * DLP) ERIO9IY — QLPST) Vb BaICBIIS BA ASS (CCE SB GAO — DAY NCHS, HBL A ORE AIL A —
Slide 17: FY2016 Forecast Operating Income
Vv Vv PO xoicemomeria Basa EPSON + BEDE ICSE MRE RIADCCE(C, PERRI GIS ES - PAA PCR — TARLBAFE TSAR OR - BFE — BSR SSA OLE ND — BRD CORTE BIEL + BEZDOMS ERK BRORE CTF MM RSH wenge) «=| RABE RK +#92100 BRIS F BRAN (F) #950, 849 i tag -#9110 WEBEL - BEmMMBE 49230. 0 FY2015 —s ee 16 w& 16
Slide 18: FY2015 Segment Results
201547 S64 00-+RR ABS 201647 BAS RL PRIETC 17
Slide 19: Printing Solutions Results
PR sxeviseh eam) EPSON ee =| ee 2,715 - 2,550 -164 -6.1% 158 5.8% 121 4.8% -36| -22.9% 207 7.6% 121 4.8% -85| -41.5% 199 7.3% 112 4.4% “86 -43.7% Flee i # # |i =n = is M1 2015/4/1EMNREBEL TIGL IA 2BOMSEHITAN HA MERM. EPS. BRN MRORTAARRM (BSR) LOM {
Slide 20: Quarterly Sales Trends
are te ere EPSON 3,500 3,000 ———s4 (ara) 2462 | | 2.665 | | 3,019 || 2,715 | | 2,609 || 2,820 | | 2,984 2. — | be mseremite -102 StH eA C3) GCs) GC) Cet -24 2014/1Q 2014/2Q 2014/3Q 2014/4Q 2015/1Q 2015/2Q 2015/30 ; a 19
Slide 21: Printing Solutions Sales Detail
PP ross tunasteax > us 9ya-s3X EPSON “1,850 8 a |° 5972 2,500 DIR-D, FERIA. VUE LAG, BESAANA I © POSTUDY— : 2,000 59 5laneRe 1,500 erp: KSB IID VET NALA RE 1008) ALU IA-MEFW mee NAL cepa 500 - © Page: FLUSH GSES LP CE 14/4Q '15/4Q._ | @SIDM : 9 = DP = 78% + 80% atta SIDM 10% 9% Page,SCN 12% 11% me e
Slide 22: Printing Solutions Sales Detail
Rh mone tumasice » orrs7-e87097y — EPSON 392 2014/4Q RA 2015/4Q RM OF NtARh MAMIE 8-35 FLW e *14/4Q‘15/4Q ih = =—51% 950% +E 33% 32% EMM 16% 18% Meet “2 eV I0OFIN42: 7Ksa. HUARCE ROR ZHU eOtvh: PRELA LCM BAN E27 ree THRORABIC LOMA CIXD PAE __ A 21
Slide 23: Quarterly Results
RP msmmcenu—merem EPSON ers) | 658 || 707 | | 773 | Ea | 729 || 785 | oe 805 | CR Lae tt) 26.7% 26.5% 25.6 700 600 500 400 300 200 100 0 2014/1Q 2014/2Q 2014/3Q 2014/4Q 2015/1Q 2015/2Q 2015/3Q 201
Slide 24: Quarterly Results
Vv V @ Vv Pr roma » BL TXD KE EPSON [as | | [3s |f ase | [as | | | meremt = -36 (48F3) 500 100 2014/1Q 2014/2Q 2014/3Q 2014/4Q 2015/1Q 2015/2Q 2015/3Q 2015/4Q iin in |
Slide 25: Operating Income Variance
Vv Rr 20m setae EPS +35 smn BUR MERC (aA) +34 tofe* ae eS 32. [gy 79° ~ oo ea 2014/4Q 2015/4Q ©: SRAMCIASERUSCI ON TMM BML OLEL BAUR PRO AOIT _——e 24
Slide 26: Balance Sheet Summary
PR vmoxetinerenane BESH (AE) 10,000 5,000 ate 7.785 9,088 10,062 Cy) (FB) = 2012/3% 2013/3% 2014/3% 2015/3 2016/3% BARS BARS IFRS IFRS IFRS Hi ee 2,000 “ hie 0 i (483) 2012/3% 2013/3% 2014/3 2015/3% 2016/3% BAe BaAme IFRS IFRS IFRS "A 25
Slide 27: Financial Position and Ratios
Vv RP vnnetnetemane EPSON ArlF AR AAT ARTE 4,000 32:4% 34.9% 2,000 orn poe Lng piety 2014/3% 2015/3% 2016/3% IFRS IFRS IFRS RAHOMA ABI SID - MAH AS BID es (BGaA- BORA) 39.9% 49.1% 49.7% piece 33.3% 33.0% 4,000 m Es 0 (83) 2012/3 2013/3% 2014/3% 2015/3 2016/3 Bae Bae IFRS IFRS IFRS A
Slide 28: Cash Flow and Capital Expenditure
| eee i i i ORS OMG 800 (1979) 694 454 ; 470 500 - 431. 393 378 407 <“ pss. 0 FY2012 FY2013 FY2014 FY2015 FY2016 BARE IFRS IFRS IFRS IFRS za EM EY EH Fe FY2015 3 FY2016728 DFA vIVa—yayz 366 241 460 250 EyaPIEI=7—-Yay 107 74 110 80 OLPSTN- R@RIDI9Y 102 81 110 90 tOt- SHA 117 56 120 50
Slide 29: Financial Indicators
| D+ ryS1-JO- RL BAM IFRS RA Ra FY2014 IFRS IFRS Ri RA 28
Slide 30: Management Indicators
PO znexmons EPSON (%) 30.0 27.7 26.3 20.0 - 10.0 - 0.0 ~-Roa : [aa] HMHS/RAR OPA) -10.0 COROA “freps) BESTT OPIS: WES / MEATY CRBR) (BtE8) SRHE LR “ROS siees) ELIAS MOMRMNEE MIRE FE Les =20.0 Roe (Bee) SME Bem CK) ‘TFRS) = WARAAMMMOMIRPER : MELO MBM T SANS aan MEADOWS SIGS ORR) FY201 FY2013 FY2014 F
Slide 31: Shareholder Returns
Vv | en EPSON + BCRIORE — BAGHTHS. SOM CHAE TLORHE BIL, BCrRtaSeeht FNS SALOME Set aatest RRGLIGSAROREK 7,000,000#% (EPR) ROR MOREA 100{8F3 (ESR) BRASH 20165A28~20166A308 HRA MESS ALICLSRRSI— EA + ACS PAB LRSROSCSRMOHES (FA) mia iB s ry ” 20135 RM % 201455 eM 201SeR TM 20165 Fa 213201547 LEC): 20 ME
Slide 32: Reference Materials
EAA ett em om 31
Slide 33: FY2016 Forecast Reference
FY2018 LI 1,047 Bens 155 150 Beta mre 1.704 1,630 11950 Ren 6948F) 800183 see wai 98 110 ¥ ROR 53187) S703 | MAROC zo wb 14 10 o Aum wai Ss -10 =f FY2015 FY2016 Epson 25 SHRM mT 2 -20 C) ma am ab usD ¥120.14 ¥105,00 ¥115.00 EUR ¥132.58 ¥120.00 ¥125,00 32
Slide 34: Sales Price and Volume Assumptions
PW zes20ncna ma i ee ASP one mt RLSM = 10K HIS am +2% ey at 409 ASP sine e+ RLSM +itineiee am +3% SIDM *tk ASP Honey RLSM «+ 10K HIE om -5% Jorr27— ASP *1ON SFIS RLSM stink FY2015S24A(FY2014tb)-FY2016Fi8(FY2015Ib) NER NEES leet ONEME INES Ae -1% 1% +2% OME REM -N EME VENER RR RM -B% 6% -12% HORGMR N
Slide 35: EPSON Exceed Your Vision
EPSON EXCEED YOUR VISION 34