Epson Transitions to 100% Renewable Electricity at All Group Sites Worldwide

Bangalore, India,11th January 2024 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 is from renewable sources. This makes Epson the first in the domestic manufacturing industry to complete the transition to renewable electricity at all of its sites worldwide, including Japan. The Epson Group consumes approximately 876 GWh3 of electricity per year. By sourcing renewables to cover this demand, Epson expects to reduce its annual carbon dioxide emissions by approximately 400,000 tonnes.

Epson publicly committed to becoming carbon-negative and underground resource-free in its Environmental Vision 2050. The use of renewable electricity is a key means by which Epson seeks to reach its goal of achieving decarbonization. In line with this, Epson declared, in March 2021, that it would switch to 100% renewable electricity to meet the electricity needs at all Epson Group sites 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, including by generating more of its power and by supporting the development of new power sources through co-creation5. Epson will reduce the amount of energy associated with production and products and will 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 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 to achieve our own goals but will also help to facilitate a broader adoption of renewable electricity within society by spreading awareness. Our goal of realizing social sustainability is a bigger issue, one fraught with difficulty, but we will act with determination to address the issues 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, and it will continue to engage in practices that are aligned with this purpose, thereby advancing toward its aspirational goal of achieving sustainability and enriching communities in tandem with its 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

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