NEWSFLASH

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EPSON TO INVEST 5-BILLION YEN IN RP

Suwa, Japan, Dec. 9, 1997 - Seiko Epson Corporation revealed plans to invest over 5 billion yen (US$40 million) in its Philippine expansion projects next year.

The projects include the establishment of a wholly-owned sales subsidiary to open in February and a terminal printer manufacturing plant in Batangas by the third quarter of 1998.

Epson President and chief executive officer Haddock Yasukawa hinted at even doubling the figure by the year 2000.

"We see bright prospects for the Philippines," said Yasukawa, "this is the country where Epson plans big in the long term."

"Our biggest potential is the semi-conductor business because Philippine industries are growing at a fast rate, especially in telecommunications where most of these products are geared to," he added.

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