Printer manufacturer Seiko Epson Corp is aiming to list on the main board of the Tokyo Stock Exchange by 2001 the Nihon Keizai Shimbun reported company sources as saying. The report said the listing aims to raise funds for expansion of the company’s semiconductor and printer businesses while it said it would also provide the company with recognition that could help with growth overseas.
Seiko Epson’s sales and profits suggest a market capitalization of 1 trillion yen ($9.3bn), the report quoted analysts as saying, which would shift the balance of power in the Seiko group away from the listed trading company Seiko Corp.
The company’s sales in the last financial year to March 31 were 824.7bn yen ($7.7bn), while pretax profit was a record 52.3bn yen ($489m). Seiko Epson supplies more than 50% of the inkjet printers sold in Japan, running well ahead of second-place Canon Inc. Its global market share is about 25%, just behind top-ranked Hewlett-Packard Co.
