Sumitomo Forestry : Announcement of Amendment to Forecast Financial Results
November 12, 2020 at 02:09 am EST
Share
November 12, 2020
For Immediate Release
Company name: Sumitomo Forestry Co., Ltd. (Stock code: 1911 1st section, Tokyo Stock Exchange) Representative: Toshiro Mitsuyoshi, President & CEO
Inquiries: Toshihiro Horii, General Manager of Corporate Communications Dept. (Tel: +81-3-3214-2270)
Announcement of Amendment to Forecast of Financial Results
In light of recent performance of Sumitomo Forestry Co., Ltd. (hereinafter "Sumitomo Forestry"), the forecasts of financial results announced on August 12, 2020 are hereby amended as follows:
1. Amendment to Forecast of Financial Results
Amendment to forecast of consolidated financial results for full year ending December 31, 2020 (April 1, 2020 through December 31, 2020)
(millions of yen)
Profit for
Net income
Operating
Recurring
the year
Net sales
attributable to
per share
income
income
owners of
(yen)
the parent
Previously announced forecast
777,000
22,500
24,000
11,000
60.63
(A)
Amended forecast (B)
821,000
35,000
37,500
20,500
112.99
Amount of increase / decrease
+44,000
+12,500
+13,500
+9,500
-
(B-A)
Rate of increase / decrease (%)
+5.7%
+55.6%
+56.3%
+86.4%
-
(Reference) Actual results for
the Third Quarter of the Fiscal
802,741
38,263
43,070
22,614
124.66
Year Ended March 2020
2. Reasons for Amendment
In terms of consolidated earnings forecasts, net sales, operating income, recurring income, and profit for the year attributable to owners of the parent are expected to exceed the previous announcement, mainly due to growth in sales units numbers in Overseas Housing and Real Estate Business reflecting the strong housing market in the U.S. compared with the forecast of the last announcement.
The dividend forecast for the fiscal year ending December 31, 2020 remains unchanged from the previous announcement on August 12, 2020.
Note： The company changed its fiscal term end from March 31 to December 31 from the fiscal year ending December 31, 2020 and unified the fiscal year end of our group on December 31. The current fiscal year, which is the transition period, is the nine months starting on April 1, 2020 and ending on December 31, 2020, assuming the change of fiscal year end. Therefore, the forecast of the consolidated financial results for the fiscal year ending December 31, 2020 above shows the forecast figures for nine months. For reference, results for the first 9 months of the previous fiscal year (from April 1, 2019 to December 31, 2019) are also presented.
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
Original document
Permalink
Disclaimer
Sumitomo Forestry Co. Ltd. published this content on 12 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 November 2020 07:08:01 UTC
Sumitomo Forestry Co., Ltd. is a Japan-based company mainly engaged in the forestry business. The Company operates in three business segments. The Timber and Building Material segment purchases, manufactures, processes and sells lumber products and building materials. The Housing segment constructs, sells, maintains and renovates detached houses, apartment and condominiums, operates exterior, landscape and greening works. The overseas segment is engaged in the purchase, manufacture and sales of lumber products and building materials overseas, as well as the contracted construction and sales of detached houses. Other businesses include biomass power generation business, pay nursing homes, dispatches manpower, manufactures and sells agriculture and gardening materials, and involves leasing business and insurance agency business.
SUMITOMO FORESTRY CO., LTD. 
