2004 2004 41 2005 331

Exceed Your Vision VisionExceed 14......................... 01... 04................. 08......................... 12............................. 14......................... 16........................ 17........................ 19.................... 20.................... 21

Seiko Epson Corporation 1 2004 2004 2004420053 TV TV

2 Seiko Epson Corporation FA 2004101 PictureMateDPE TFT TVLIVINGSTATION 107.55135.195% 2% 14,79749 4.7% 909 67 17.5% 8534015.8% 556 88 46.4% 200541 1 Action07

Seiko Epson Corporation 3 Action0720069% 2005 2004 Action07 2005Action072 Exceed Your Vision VisionExceed Exceed Your Vision Exceed Your Vision 2005 5

4 Seiko Epson Corporation 2004 2004 The Bit Scream

Seiko Epson Corporation 5 2004 4 6 8 PX-G5000 PX-G5000 A3 8 3080

6 Seiko Epson Corporation 1994 11 2004105,0332.3

Seiko Epson Corporation 7 1998 4 epsite epsite PX-5500/PX-6500/PX-7500/PX-9500 K3 1 3 200 P-5500 P-6500 epsite 10301800 2-1-1 1 4 2 JR5 P-7500 P-9500

8 Seiko Epson Corporation 3 4 2001 2002 2003 2004 12,741 13,224 14,132 14,797 9,022 9,158 9,203 9,460 3,120 3,542 4,411 4,826 20,000 15,000 10,000 781 797 811 811 5,000 258 263 294 345 442 537 588 645 0-5,000 2001 2002 2003 2004 2001 2002 2003 2004 261 493 774 909 588 804 459 615 223 280 406 385 1,200 1,000 800 600 400 41 6 28 24 105 37 120 130 44 0 0 14 200 0-200 -400 2001 2002 2003 2004

Seiko Epson Corporation 9 1. POS TV PC TV EPSON= Photo PictureMate 2004 2004 4 2005 3 2005 TVLIVINGSTATION 2005 PM-A900 E-200 EMP-TW200H TV LIVINGSTATIONELS-57P2G

10 Seiko Epson Corporation 2. TFTLCD LSI 2004101 TFT DVD TV 20054 6.5 TFT LCD TFT ELLSI

Seiko Epson Corporation 11 20053 2005101 12 3. FA IC SBGA003 6

12 Seiko Epson Corporation 2005101 54 27 3LCD 5 TFT3 3 3LCD 3LCD 3LCD 3LCD 3LCD TV 3LCD900 3LCD

Seiko Epson Corporation 13 VISIONin Aoyama VISION in Aoyama VISION TV VISION IEEE 1969IEEE 1983 50 4 11002000 3-11-7 B21

14 Seiko Epson Corporation 20 NEDO 200363 10 20 1 2 3 2010 199760% The New Energy and Industrial Technology Development Organization 20052 5

Seiko Epson Corporation 15 20046 20053 4,000 20014 200411 2 IT Eco Declaration

16 Seiko Epson Corporation 2001 2002 2003 2004 20014 1 20024 1 20034 1 20044 1 2002331 2003331 2004331 2005331 12,741 13,224 14,132 14,797 261 493 774 909 192 417 736 853 184 125 380 556 12,416 11,976 12,070 12,982 2,803 2,813 4,143 4,728 1 121.37 81.08 204.70 283.60 204.53 1,846.05 1,851.13 2,110.20 2,408.13 ( ) ( ) ( ) ( ) 15,000 1,000 15,000 12,000 800 12,000 9,000 6,000 600 400 200 9,000 6,000 3,000 0 3,000 0 2001 2002 2003 2004-200 0 2001 2002 2003 2004 2001 2002 2003 2004

Seiko Epson Corporation 17 2004 2003 2005 3 31 2004 3 31 7,471 7,097 2,355 2,662 2,561 2,103 1,766 1,558 823 809 36 37 5,510 4,973 4,413 3,930 4,197 3,761 5,211 4,694 1,882 1,768 588 521 77 123 7,543 6,939 265 231 831 811 498 390 340 427 7 7 12,982 12,070 1 2004 2003 2005 3 31 2004 3 31 5,050 4,181 1,450 1,323 306 634 1,046 473 1,190 817 1,056 932 2,936 3,720 2,599 3,467 337 252 7,986 7,901 266 25 532 532 795 795 3,509 2,995 37 30 145 209 0 0 4,728 4,143 12,982 12,070 2003911 2003585

18 Seiko Epson Corporation 2004 2003 2004 4 1 2003 4 1 2005 3 31 2004 3 31 2004 2003 2004 4 1 2003 4 1 2005 3 31 2004 3 31 ( ) ( ) ( ) ( ) 14,797 14,132 1,624 1,826 909 774 993 653 963 409 853 736 30 35 736 650 302 728 2,651 1,922 556 380 2,349 2,651 1 1 % 2,500 16 2,000 12 1,500 8 1,000 4 500 0 0-4 -500 2001 2002 2003 2004-8 2001 2002 2003 2004 1 1 ROA ROS ROE

Seiko Epson Corporation 19 2004 2003 2005 3 31 2004 3 31 2004 2003 2005 3 31 2004 3 31 4,052 5,259 1,367 1,881 1,457 1,753 571 662 655 962 0 0 5,318 5,313 2,930 3,263 1,233 1,359 883 994 499 515 312 393 135 156 2,253 1,893 375 275 1,593 1,193 284 425 0 0 9,370 10,573 1 3,238 3,468 1,088 1,624 120 400 823 445 736 647 470 351 2,336 3,541 2,232 3,438 104 103 5,574 7,010 532 532 795 795 2,432 2,205 36 29 0 0 3,795 3,562 9,370 10,573 2004 2003 2004 4 1 2003 4 1 2005 3 31 2004 3 31 ( ) ( ) 9,958 10,773 418 297 398 315 368 234 270 161

20 Seiko Epson Corporation 38 33 77 U.S. Epson, Inc. Epson Europe B.V. EpsonChinaCo., Ltd. Epson Singapore Pte. Ltd. Epson America, Inc. Epson Electronics America, Inc. EpsonU.K.Ltd. Epson Deutschland GmbH Epson Europe Electronics GmbH Epson France S.A. Epson Italia s.p.a. Epson Iberica, S.A. Epson Korea Co., Ltd. EpsonShanghaiInformation Equipment Co., Ltd. Epson Hong Kong Ltd. Epson Taiwan Technology & Trading Ltd. Epson Australia Pty. Ltd. Epson Portland Inc. Epson El Paso, Inc. Epson Research and Development, Inc. Epson Telford Ltd. Suzhou Epson Co., Ltd. Epson PrecisionHong KongLtd. Singapore Epson Industrial Pte. Ltd. P.T. Indonesia Epson Industry Epson PrecisionPhilippines, Inc. Epson PrecisionMalaysiaSdn. Bhd. 50 2005331

Seiko Epson Corporation 21 392-8502 35 TEL 0266-52-3131 163-0811 41 NS TEL 03-3348-8531 5324 1942518 2005331 85,647 11,811 2005331 116 39 77 TV POSPC TFTCMOS LSI IC http://www.epson.co.jp/ 200541 2005331 607,458,368 196,364,592 33,108 20,318 10.34 14,288 7.27 8,458 4.30 7,593 3.86 7,144 3.63 p 7,060 3.59 6,831 3.47 6,654 3.38 6,240 3.17 6,145 3.12 1. 2. 3 331 6 331 930 21 21 0120-288-324 http://www.mizuho-tb.co.jp/daikou/

392-8502 3-3-5 Tel: 0266-52-3131 http://www.epson.co.jp/