EPSON Q1 revenue up 5.6 percent despite shortages despite shortage

EPSON recorded ¥297.8 billion in revenue in the first quarter to June 30, 2022 as profit fell by 6.6 percent to ¥22.6 billion due to soaring transportation and parts costs. ‘Will implement dynamic pricing and cost control, said EPSON. The global economic growth rate began decelerating in the first quarter because of advancing inflation and moves by the US and many other countries to tighten their monetary policies. China’s zero-Corona Virus policies and lockdowns had a particularly large impact, as they brought economic activity to a near standstill. The drawn-out war in Ukraine, chip shortages as well as shortages of certain other materials, and ongoing global supply chains disruptions caused by logistics delays have further clouded the economic outlook, so EPSON will continue to closely watch trends going forward.

Business profit of the company was ¥22.6 billion, down 6.6 percent from the prior-year period, because although the company continues to contain costs chiefly by curtailing spending on advertising and promotions in accordance with revenue fluctuations, soaring transportation and parts costs increased our manufacturing costs. Profit from operating activities, which benefited from the recording of foreign exchange gains due to the appreciation of the US dollar, ended at ¥31.2 billion, up 31.9 percent from the prior-year period.