Epson becomes the first in the Japanese manufacturing industry to fully transition to 100% renewables

10 January 2024, SINGAPORE – Seiko Epson Corporation (TSE: 6724, “Epson”) is pleased to announce that, as of December 2023, all electricity used at Epson Group sites around the globe¹ comes from renewable sources. This makes Epson the first² in the domestic manufacturing industry to complete the transition to renewable electricity at all of its sites worldwide. The Epson Group consumes approximately 876 GWh³ of electricity per year. By sourcing renewables to meet this demand, Epson expects to reduce its annual carbon dioxide emissions by approximately 400,000 tonnes.

Epson has publicly committed to becoming carbon negative and underground resource free⁴ in its Environmental Vision 2050. The use of renewable electricity is a key means by which Epson seeks to reach its goal of achieving decarbonisation. In line with this, Epson has previously declared, in March 2021, that it would switch to 100% renewable electricity to meet the electricity needs at all Epson Group sites¹ around the world by 2023. In November 2021, the switch was completed in Japan. The global switch to renewable electricity was completed on schedule in December 2023.

In addition to sourcing renewable electricity, Epson will promote the broader adoption of renewable energy which includes generating more of its own power and supporting the development of new power sources through co-creation. Epson will reduce the amount of energy associated with production processes and products as well as pursue further advances in resource circulation to attain the goal of becoming carbon negative.

Steps taken to switch to 100% renewable electricity use at all Epson Group sites¹

• March 2021: Publicly committed to switching to 100% renewable electricity at all sites
• April 2021: Switch completed at all sites in its local area of Nagano Prefecture, Japan
• November 2021: Switch completed at all sites in Japan
• December 2023: Switch completed at all global sites

Global President Yasunori Ogawa said, “For the past eight decades, Epson has demonstrated a proactive approach to environmental action. We have maintained the founder’s commitment to preserving the cleanliness of nearby Lake Suwa and became the world’s first company to eliminate CFCs from our manufacturing processes. Now we have successfully completed the switch to 100% renewable electricity at all Epson Group sites in just two years and ten months since declaring our commitment to doing so in 2021. This will not only help us achieve our own goals but also help to facilitate a broader adoption of renewable electricity in the wider society. Realising social sustainability is a goal fraught with difficulties but we will act with determination to address the hurdles with a spirit of creativity and challenge.”

Epson believes that its philosophy of efficient, compact and precise innovation enriches lives and helps create a better world. We will continue to engage in practices that are aligned with this purpose, thereby advancing toward the aspirational goal of achieving sustainability and uplifting communities alongside customers and partners.

¹ Excludes some sales sites and leased properties where the amount of electricity consumed cannot be determined
² Among Japanese companies that have joined the RE100. Current as of January 9, 2024, per Epson research.
³ Results for the 2022 fiscal year ended March 2023. Includes co-generation system (CGS) electricity and privately generated electricity.
⁴ Free of non-renewable resources such as oil and metals
⁵ A project to expand the sourcing of renewable electricity in Nagano Prefecture

About Epson
Epson is a global technology leader whose philosophy of efficient, compact and precise innovation enriches lives and helps create a better world. The company is focused on solving societal issues through innovations in home and office printing, commercial and industrial printing, manufacturing, visual and lifestyle. Epson’s goal is to become carbon negative and eliminate use of exhaustible underground resources such as oil and metal by 2050. Led by the Japan-based Seiko Epson Corporation, the worldwide Epson Group generates annual sales of more than JPY 1 trillion. Visit corporate.epson/en/ for more information.

About Epson Singapore
Since 1982, Epson has developed a strong presence across major markets in Southeast Asia and South Asia. Led by the regional headquarters Epson Singapore, Epson’s business in Southeast Asia spans an extensive network of 11 countries with a comprehensive infrastructure of close to 500 service outlets, 7 manufacturing facilities and 6 Epson solution centres. Visit: http://www.epson.com.sg for more information.