The present invention provides: a microcapsule composition for electrophoretic displays; a production process for the microcapsule composition for the electrophoretic displays; a production process for a sheet for the electrophoretic displays; and a handling method for microcapsules for the electrophoretic displays; wherein the microcapsule composition contains microcapsules and, when used for the electrophoretic displays, can make them as excellent as conventional in various performances (e.g. longtime stability of displaying, respondability of displaying, contrast, and number of times of display rewritability) and, particularly above all, can make the electrophoretic displays exhibit a very high performance as to the contrast. The present invention composition is a composition used for preparation of a coating liquid and comprises an aqueous medium and microcapsules for the electrophoretic displays, wherein the microcapsules include a shell and a dispersion that is capsuled in the shell, wherein the dispersion includes a solvent and electrophoretic fine particles that are dispersed in the solvent; with the composition being characterized by: being a product as obtained without involving the step of drying the microcapsules; and having a microcapsule content of 30 to 80 weight %.