SUMIDA: Investor News
Notice of Revision of FY2022 Consolidated Full-year Earnings and Dividend Forecast
31 Oktober 2022SUMIDA CORPORATION (hereafter “the Company”) announces a revision of its consolidated full-year earnings forecast (January 1, 2022 - December 31, 2022) and the dividend forecast which was published on February 4, 2022.
1. Revision to consolidated full-year earnings forecast (Jan 1, 2022–December 31, 2022)
| (million JPY) | Revenue | Operating Profit |
Profit before Income Taxes | Profit Attributable to Owners of the Parent |
Basic EPS (yen) |
| Previous Forecast (A) | 119,000 | 5,500 | 4,400 | 3,100 | 114.00 |
| Revised Forecast (B) | 136,000 | 7,200 | 5,500 | 3,900 | 143.42 |
| Increase/(Decrease) (B - A) |
17,000 | 1,700 | 1,100 | 800 | |
| Change % (B / A) | 14.3 | 30.9 | 25.0 | 25.8 | |
| (Reference) Previous Year Results (FY ended December 2019) |
104,920 | 5,326 | 3,898 | 2,629 | 96.68 |
*Foreign currency exchange rates assumptions used in the forecast: 1 USD=144.30 JPY, 1 Euro＝139.70 JPY,
1RMB = 20.20 JPY. Copper price assumptions used in the forecast: 7,600 USD per ton
2. Reasons for revision
Revenue is expected to surpass the previously announced forecast, driven by a steady growth of the automotive market, such as the EV/xEV-related business, and by the effects of the foreign exchange market trend, especially with a consistent depreciation of the Japanese Yen compared to the Company’s initial assumptions.
Profits are also expected to surpass the previously announced forecast, driven by the revenue increase and by the effects of a product pricing to manage raw material cost increases.
3. Revision of the Dividend Forecast
| Dividend Payment (yen) | |||||
| Q1 | Q2 | Q3 | Year-end | Total | |
| Previous Forecast (announced on February 4, 2022) |
14.00 | 15.00 | 29.00 | ||
| Revised Forecast | 22.00 | 36.00 | |||
| Dividend Paid in FY2022 | 14.00 | ||||
| Dividend Paid in Previous Year (Ended December 2021) |
3.00 | 3.00 | 11.00 | 11.00 | 28.00 |
4. Reasons for revision of dividend forecast
The Company’s basic policy for the return of profits to shareholders is to deliver dividends in consideration of a consolidated dividend payout ratio (25% to 30%) with top priority on the profit distribution through dividends. In line with this policy and the revision of the consolidated full-year earnings forecast, the Company revised the previous dividend forecast.
(Note) The above forecasts are based on information available at the time of preparation of such forecasts, and actual financial results may differ from those forecasts presented herein due to various factors.