SUMIDA: Investor News
With due consideration of the recent business performance, SUMIDA CORPORATION announces today revisions to the FY2019 earnings forecast (January 1 to December 31, 2019) disclosed on July 31, 2019 along with the 2nd quarter FY2019 consolidated financial results.
- Revision of FY2019 earnings forecast (Jan. 1-Dec. 31, 2019)
(million JPY) Sales Operating
IncomeNet
IncomeIncome
Attributable to
Owners of ParentEPS
(yen)Previous Forecast (A) 92,000 2,200 900 500 18.43 Revised Forecast (B) 92,000 3,100 1,800 1,000 36.88 Change (B) - (A) ---- 900 900 500 Change % 0.0% 40.9% 100.0% 100.0% (Reference)
FY2018 Results97,538 5,383 4,061 2,420 90.24 - Reasons for revision of FY2019 earnings forecast
With sluggish auto sales continuing in Europe, new car sales in China have been stagnant due to sharp downturn in consumer confidence caused by economic slowdown and prolonged trade frictions with the U.S. Under these circumstances, Sumida group has been tackling the tasks of enhancing profitability by improving productivity and reducing materials costs etc., despite of lagging sales. As a result, we have decided to revise up the earnings forecast previously disclosed on July 31 this year.