SUMIDA CORPORATION (hereafter “the Company”) announced the following earnings results comparison between the first half of fiscal year 2011 and the first half of fiscal year 2010 (hereafter “the previous fiscal year;”).

1. Comparison of Earnings Results
   

   (Millions of yen)
   	Net sales	Operating income	Ordinary income	Net income	EPS (Yen)
   First half of FY2010 (A)	27,001	2,062	1,234	905	47.13
   First half of FY2011 (B)	27,140	1,279	1,208	691	35.99
   Variance (B)-(A)	139	(782)	(26)	(214)	-
   Variance (%)	0.5%	(38.0%)	(2.2%)	(23.7%)	-

2. Explanation for the Variance
   Net sales was up 0.5% compared with the previous fiscal year to 27,140 million yen. Operating income was down 38.0% to 1,279 million yen. Ordinary income and net income were down 2.2% and 23.7% to 1,208 million yen and 691 million yen respectively.
   1. Net Sales
      Net sales for the first half of FY2011 slightly(0.5%) increased over the previous fiscal year due to a steady sales performance in Europe, mainly in automotive segment. On the other hand, sales in Asia, especially in Japan, were affected by the earthquake and tsunami in March.
   2. Operating Income
      Due to price increase of copper and other raw materials, and wage increase for the workers at our Chinese factories, operating income decreased 38.0% compared to the previous fiscal year.
   3. Ordinary Income
      Ordinary income was only slightly(2.2%) down from the previous fiscal year. Compared to previous year where we suffered a foreign exchange loss, we were able to have a foreign exchange gain this year in non-operating income/expense.
   4. Net Income
      As a result of the above, net income decreased 23.7% compared to the previous fiscal year.

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