Seiko Epson to Quit Small/Medium LCD Manufacture

Seiko Epson announced on March 11, 2009 that withdrawing from the small/medium-sized LCD business would be part of its restructuring after estimating a net loss of JPY100 billion (about US$1 billion) during its fiscal year that will end on March 31, 2009.

By September Seiko Epson will shut down its subsidiary Epson Imaging Devices Corp.’s LCD factory based in the Gifu Prefecture located in central Japan. The units headquarters will shift from the Nagano Prefecture to the Tottori Prefecture. The company will only manufacture LCDs at its Tottori Prefecture-based factory located in western Japan.

Seiko Epson will instead focus on printers, projectors and crystal parts used in digital cameras and mobile phones. There will be no layoffs as part of the reorganization.

Source: Reuters, Bloomberg, Trading Markets

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