EPSON reports sharp increase in revenue in first quarter

EPSON has reported revenue for the first quarter was ¥314.8 billion, an increase of 5.7 percent year-on-year, while overall business profits were down 31 percent year-on-year. Revenue in the commercial and industrial printing business sharply increased. The global economy in the first quarter of the year under review showed stronger signs of a global economic slowdown, with ongoing high inflation and the tightening of monetary policy by countries around the world, said EPSON. Revenue in the office and home printing business increased. While unit sales of ink cartridge printers sharply decreased, inkjet printer revenue increased. Revenue benefitted from an increase in unit sales of high-capacity ink tank printers in emerging markets, growth in sales of office shared inkjet printers with the launch of high-speed linehead inkjet multifunction printers, and positive foreign exchange effects.