Sumitomo Electric Industries : Announcement of FY2022 Consolidated Business Results and the Mid-Term Management Plan

On May 12, we held a press conference to release our FY2022 business results at the Osaka Head Office. In FY2022, the business environment was harsh due to the decrease in automotive production affected by local lockdowns in China and shortages of semiconductors and other components, and also due to soaring material and energy prices. However, through our diligent efforts in expanding the sales of wiring harnesses, power cables, and cemented carbide tools, among others, we were able to achieve a significant milestone of reaching 4.056 trillion yen in consolidated net sales, surpassing the 4 trillion yen threshold for the first time. Furthermore, we surpassed the publicly announced forecasts in terms of operating income, ordinary income, and net profit for the current fiscal period. Although the results were partly thanks to the depreciation of the yen, surpassing the 4 trillion yen mark is an epoch-making event for us. I would like to take this opportunity to express my sincere appreciation for the usual support you extended to us.