SUMIDA: Investor News
Notice of Revision of FY2020 Consolidated Full-year Earnings Forecast and the Year-end Dividend Forecast
1 Februar 2021SUMIDA CORPORATION (hereafter “the Company”) announces a revision of its consolidated full-year earnings forecast (January 1, 2020 - December 31, 2020) which was announced on October 30, 2020.
1. Revision to consolidated full-year earnings forecast (Jan 1, 2020–December 31, 2020)
|
Net Sales |
Operating Profit |
Ordinary Income (million yen) |
Profit Attributable to Owners of the Parent (million yen) |
Basic Earnings per Share (yen) |
|
| Previous Announced Forecast (A) | 83,300 | 1,300 | 0 | 0 | 0.00 |
| Revised Forecast (B) | 84,400 | 2,800 | 1,500 | 800 | 29.46 |
|
Increase/(Decrease) (B - A) |
1,100 | 1,500 | 1,500 | 800 | |
| Change %
(B / A) |
1.3% | 115.4% | - | - | |
|
(Reference) (FY ended December 2019) |
94,283 | 3,543 | 2,184 | 1,582 | 58.36 |
*Foreign currency exchange rates assumptions used in the forecast: 1 USD=108 JPY, 1 Euro＝119 JPY
2. Reasons for revision
Several countries have lifted lockdown measures that were imposed due to the ongoing COVID-19 pandemic. As economic activities reopened, recovery could be observed in the sales revenue, as the demand in the automotive-related business is picking up with the support of policy responses implemented in several countries.
The sales revenue recovered and amid the ongoing COVID-19 pandemic the Company’s core business processes were reviewed that are necessary to perform its tasks and to avoid reducing productivity. Furthermore, part of the impairment losses could be reversed etc. As a result, the Company expects profit to exceed its previous forecast.
3. Revision of the Year-end Dividend Forecast
| Annual Dividend Amount (JPY) | |||||
| First Quarter | Second Quarter | Third Quarter | Year-end | TOTAL | |
| Previous Forecast | - | - | - | ||
| Revised Forecast | - | - | |||
| Actual | 0.00 | 0.00 | 0.00 | 9.00 | 9.00 |
| Results of the Previous Year (Ended December 2019) | 6.00 | 6.00 | 6.00 | 6.00 | 24.00 |
(Reasons for the Revision of Year-end Dividend Forecast)
Following the revision of the FY2020 full year forecast announced today and considering the Company’s financial situation and dividend payout ratio etc., the Company decided to revise the year-end dividend forecast to 9 yen per share, which was previously undetermined.
The decision on a year-end dividend will be placed on the agenda of the Board of the Directors’ meeting scheduled for February 22, 2021.