Sumitomo Forestry Co., Ltd. Announces Consolidated and Non-Consolidated Earnings Results for the Fiscal Year Ended March 31, 2018; Provides Earnings Guidance for the Year Ending March 31, 2019
July 03, 2018 at 07:13 pm EDT
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Sumitomo Forestry Co., Ltd. announced consolidated and non-consolidated earnings results for the fiscal year ended March 31, 2018. For the year, on consolidated basis, the company reported net sales of JPY 1,221,998 million against JPY 1,113,364 million for the same period a year ago. Operating income was JPY 53,021 million against JPY 53,989 million for the same period a year ago. Recurring income was JPY 57,865 million against JPY 57,841 million for the same period a year ago. Profit for the year attributable to owners of the parent was JPY 30,135 million against JPY 34,532 million for the same period a year ago. Net income per share fully diluted was JPY 158.82 against JPY 183.76 for the same period a year ago. Return on equity was 10.3% against 13.3% for the same period a year ago. Net cash provided by used in operating activities was JPY 13,732 million against JPY 40,337 million for the same period a year ago. Income before income taxes and minority interests was JPY 58,538 million against JPY 58,523 million for the same period a year ago. Payments for purchases of fixed assets were JPY 14,827 million against JPY 48,946 million for the same period a year ago. Payments for purchases of intangible assets were JPY 2,183 million against JPY 2,556 million for the same period a year ago.
For the year, on non-consolidated basis, the company reported net sales of JPY 701,534 million against JPY 714,040 million for the same period a year ago. Operating income was JPY 10,301 million against JPY 25,734 million for the same period a year ago. Recurring income was JPY 18,201 million against JPY 31,696 million for the same period a year ago. Net income was JPY 13,545 million against JPY 22,292 million for the same period a year ago. Net income per share fully diluted was JPY 71.22 against JPY 118.63 for the same period a year ago.
The company provided earnings guidance for the year ending March 31, 2019. For the year, the company expects net sales of JPY 1,310,000 million, operating income of JPY 54,500 million, recurring income of JPY 57,500 million, profit for the year attributable to owners of the parent of JPY 31,500 million and net income per share of JPY 173.76.
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. Announces Consolidated and Non-Consolidated Earnings Results for the Fiscal Year Ended March 31, 2018; Provides Earnings Guidance for the Year Ending March 31, 2019
SUMITOMO FORESTRY CO., LTD. 
