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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sumitomo Electric Industries, Ltd.    5802   JP3407400005

SUMITOMO ELECTRIC INDUSTRIES, LTD.

(5802)
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Sumitomo Electric Industries : Notice of Earnings Forecast and Dividend Forecast ( 154.2 KB)

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07/31/2020 | 02:15am EDT

(English Translation)

To Whom It May Concern:

July 31, 2020

Company Name:

Sumitomo Electric Industries, Ltd.

Representative:

Osamu Inoue, President and COO

Code Number:

5802 (TSE, NSE, FSE)

Contact:

Kenichiro Hizume,

General Manager of Accounting Division

(TEL +81-6-6220-4141)

Notice of Earnings Forecast and Dividend Forecast

Sumitomo Electric Industries, Ltd. (''the Company'') hereby announces its consolidated earnings forecast and dividend forecast for the fiscal year ending March 31, 2021, which had been undetermined at the time of the announcement of its results for the fiscal year ended March 31, 2020 (on May 19, 2020).

1. Consolidated earnings forecast

  1. Consolidated earnings forecast for the first half of the fiscal year ending March 31, 2021 (April 1, 2020 - September 30, 2020) (Millions of yen, except per share figures)

Profit attributable

Earnings per share

Net sales

Operating income

Ordinary income

to owners of the

(yen)

parent

Previous forecasts (A)

Revised forecasts (B)

1,200,000

-35,000

-45,000

-50,000

-64.11

Difference (B-A)

Increase/decrease (%)

(For reference)

Actual for the first half of the previous

1,523,770

45,976

48,100

28,013

35.92

fiscal year ended March 31, 2020

(2) Conolidated earnings forecast for the fiscal year ending March 31, 2021 (April 1, 2020 - March 31, 2021)

(Millions of yen, except per share figures)

Profit attributable

Earnings per share

Net sales

Operating income

Ordinary income

to owners of the

(yen)

parent

Previous forecasts (A)

Revised forecasts (B)

2,750,000

55,000

48,000

10,000

12.82

Difference (B-A)

Increase/decrease (%)

(For reference)

Actual for the previous fiscal year

3,107,027

127,216

130,498

72,720

93.24

ended March 31, 2020

(3) Reason for the announcement

The Company's consolidated earnings forecast for the fiscal year ending March 31, 2021, had been undetermined because of the difficulty in making a reasonable estimate of the impact of COVID-19, but in view of the gradual recovery of economic activities due to the termination of the state of emergency in Japan and the lifting or relaxation of lockdown, restrictions on outings, etc. in overseas countries, the Company decided to announce its consolidated earnings forecast on the basis of the currently available information.

This forecast is based on the assumption that COVID-19 will be gradually settled towards the end of this fiscal year and the situation will not change significantly due to the second wave, etc. although the future of COVID-19 remains uncertain.

In order to overcome this unprecedented difficulty and come back to a growth path, the Company is taking actions for the quick business recovery and making strong constitution of company which can withstand any kind of environment by company-wide effort for the further improvement of "SEQCDD" (safety, environment, quality, cost, delivery and R&D).

2. Dividend forecast

(1) Dividend forecast

(Yen)

Dividend per share

Interim

Year-End

Total

Previous dividend forecast

Revised dividend forecast

16.00

16.00

32.00

(For reference)

Actual for the previous fiscal year

24.00

16.00

40.00

ended March 31, 2020

(2) Reason for the announcement

Our basic policy for dividend is to maintain stable dividend payout and make comprehensive judgement based on consolidated financial results, dividend payout ratio, level of retained earnings, etc., and to pay dividend twice a year through an interim dividend and a year- end dividend.

The dividend forecast of this term had been undetermined because of the difficulty in planning the consolidated earnings forecast, but along with the today's announcement of consolidated earnings forecast as described in above 1., the Company decided to announce that the annual dividend forecast is set at 32 yen per share (interim dividend of 16 yen and year-end dividend of 16 yen).

  • This material contains forward-looking statements, based on judgments and estimates that have been made on the basis of currently available information. Therefore, the final results might be different from the forecast due to various factors.

Disclaimer

Sumitomo Electric Industries Ltd. published this content on 31 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2020 06:15:11 UTC


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Financials
Sales 2021 2 786 B 26 393 M 26 393 M
Net income 2021 12 886 M 122 M 122 M
Net Debt 2021 267 B 2 528 M 2 528 M
P/E ratio 2021 70,2x
Yield 2021 2,76%
Capitalization 906 B 8 590 M 8 581 M
EV / Sales 2021 0,42x
EV / Sales 2022 0,40x
Nbr of Employees 283 910
Free-Float 94,9%
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Technical analysis trends SUMITOMO ELECTRIC INDUSTRIES, LTD.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 8
Average target price 1 528,75 JPY
Last Close Price 1 161,50 JPY
Spread / Highest target 60,1%
Spread / Average Target 31,6%
Spread / Lowest Target 11,9%
EPS Revisions
Managers
NameTitle
Osamu Inoue President & Representative Director
Masayoshi Matsumoto Chairman
Junji Ito Managing Director, GM-Research & Development
Mitsuo Nishida Representative Director & Vice President
Nozomi Ushijima Representative Director & Vice President
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