Sumitomo Metal Mining : Press ReleaseIR

Consolidated Financial Results for the Second Quarter Ended September 30, 2017 [J-GAAP]

November 9, 2017

Listed Company Name:	Sumitomo Metal Mining Co., Ltd.
Code:	5713
Listings:	Tokyo Stock Exchange
URL:	http://www.smm.co.jp/
Representative:	Yoshiaki Nakazato, President and Representative Director
Contact:	Tsuyoshi Nozawa, Deputy General Manager, PR & IR Dept.	TEL: [phone]
Scheduled Date to Submit Quarterly Report: November 14, 2017
Scheduled Date to Start Dividend Payment: December 6, 2017
Preparation of Supplementary Explanation Materials for Quarterly Financial Results: Yes
Briefing on Quarterly Settlement: Yes (for institutional investors)

(Amounts less than one million yen are rounded off)

1. Consolidated Financial Results (From April 1, 2017, to September 30, 2017)

2. Consolidated Operating Results

   (% figures show year-on-year change)

   Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent
   Six months ended September 30, 2017	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%
   	442,111	20.6	44,690	103.9	46,279	295.7	35,113	973.1
   Six months ended September 30, 2016	366,492	-20.2	21,920	-57.4	11,696	-81.9	3,272	-93.9

   (Note) Comprehensive income

   Six months ended September 30, 2017: ¥25,018 million (―%); Six months ended September 30, 2016: -¥80,332 million (―%)

   Profit per share (Basic)	Profit per share (Diluted)
   Six months ended September 30, 2017	Yen	Yen
   	127.32	114.48
   Six months ended September 30, 2016	11.86	11.05

   (Note) The Company carried out a consolidation of share at the ratio of 2 shares to 1 share on October 1, 2017. Accordingly, profit per share (basic) and profit per share (diluted) have been calculated on the assumption that the said consolidation of share was carried out at the beginning of the previous fiscal year.

3. Consolidated Financial Position

   Total assets	Net assets	Equity ratio
   As of September 30, 2017	Millions of yen	Millions of yen	%
   	1,683,856	1,069,142	58.5
   As of March 31, 2017	1,685,018	1,024,121	57.1

   (Reference) Shareholders' equity

   As of September 30, 2017: ¥985,084 million; As of March 31, 2017: ¥961,690 million

4. Dividends

   Dividend per share
   First quarter-end	Second quarter-end	Third quarter-end	Year-end	Total
   Year ended March 31, 2017	Yen	Yen	Yen	Yen	Yen
   	―	5.00	―	6.00	11.00
   Year ending March 31, 2018	―	17.00
   Year ending March 31, 2018 (Forecast)	―	40.00	―

   (Note) Revision of dividend forecast that has been disclosed lastly: Yes

   The Company carried out a consolidation of share at the ratio of 2 shares to 1 share on October 1, 2017. As

   1

   the second quarter-end dividend for the fiscal year ending March 31, 2018 will be paid based on the number of shares prior to the consolidation of share, the dividend per share is shown in the amount prior to the consolidation of share. The year-end dividend per share (forecast) for the fiscal year ending March 31, 2018 is shown in the amount based on the said consolidation of share and the full-year dividend is shown as "-". If the consolidation of share had not been carried out, the dividend forecast for the fiscal year ending March 31, 2018 would be a year-end dividend of ¥20 per share and a full-year dividend of ¥37 per share. For further details, please refer to "Explanation regarding appropriate use of operating results forecast and other special notes."

5. Forecast of Consolidated Operating Results for the Year Ending March 31, 2018 (From April 1, 2017, to March 31, 2018)

   (% figures show year-on-year change)

   Net sales		Operating profit		Ordinary profit		Profit attributable to owners of parent		Profit per share
   Full year	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
   	903,000	14.9	89,000	16.5	97,000	―	68,000	―	246.56

   (Note) Revision of operating results forecast that has been disclosed lastly: Yes

   For further details, please refer to "1. Qualitative Information on Quarterly Financial Results, (3) Forward-Looking Information Including Forecast of Consolidated Operating Results and Other" on page 3.

   In addition, the Company carried out a consolidation of share at the ratio of 2 shares to 1 share on October 1, 2017. Accordingly, the forecast for profit per share shown in the Forecast of Consolidated Operating Results for the Year Ending March 31, 2018, is based on the number of shares outstanding after the consolidation. For further details, please refer to "Explanation regarding appropriate use of operating results forecast and other special notes."

   Notes

6. Change in Important Subsidiaries during the Period under Review (Change in specific subsidiaries that will accompany a change in scope of consolidation): None

7. Application of Accounting Procedures Specific to Quarterly Consolidated Financial Statements: Yes

8. (Note) For further details, please refer to "2. Consolidated Financial Statements and Primary Notes, (3) Notes Relating to the Consolidated Financial Statements (Application of Accounting Procedures Specific to Quarterly Consolidated Financial Statements)" on page 11.

   (3)	Changes in Accounting Policies or Estimates and Retrospective Restatements
   1) Changes in accounting policies in accordance with revision of accounting standards:	None
   2) Changes in accounting policies other than item 1) above:	None
   3) Change in accounting estimates:	None
   (4)	4) Retrospective restatements: Number of Outstanding Shares (Common stock)	None

   1) Number of shares issued as of end of period (including treasury stock)

   290,814,015 shares at September 30, 2017

   290,814,015 shares at March 31, 2017

   2) Number of shares of treasury stock as of end of period

   15,028,076 shares at September 30, 2017

   15,015,043 shares at March 31, 2017

   3) Average number of shares during the period

   275,792,984 shares for six months ended September 30, 2017

   275,813,972 shares for six months ended September 30, 2016

   (Note) The Company carried out a consolidation of share at the ratio of 2 shares to 1 share on October 1, 2017.

   Accordingly, the number of shares issued as of end of period, the number of shares of treasury stock as of end of period, and the average number of shares during the period have been calculated on the assumption that the said consolidation of share was carried out at the beginning of the previous fiscal year.

   The consolidated financial results presented herein are not subject to the quarterly review.

   Explanation regarding appropriate use of operating results forecast and other special notes (Caution Regarding Forward-Looking Statements)

   The forecast of consolidated operating results for the year ending March 31, 2018, disclosed on May 11, 2017, has

   been revised in this report. The forward-looking statements, including business results forecast, contained in these materials are based on information available to the Company and on certain assumptions deemed to be reasonable as of the date of release of this document and they are not meant to be a commitment by the Company. Also, actual business results may differ substantially due to a number of factors.

   (Regarding Forecasts for Dividends and Consolidated Operating Results after the Consolidation of Shares)

   The Company carried out a consolidation of share, which was approved and resolved at the 92nd Ordinary General Meeting of Shareholders held on June 27, 2017, at the ratio of 2 shares to 1 share on October 1, 2017. If the consolidation of share had not been carried out, the dividend forecast and the forecast for consolidated operating results for the fiscal year ending March 31, 2018 would be as follows:

9. Dividend forecast for the fiscal year ending March 31, 2018 Second quarter-end dividend: ¥17.00 per share (Note 1) Year-end dividend: ¥20.00 per share (Note 2)

10. Forecast for consolidated operating results for the fiscal year ending March 31, 2018 Second quarter (cumulative) profit per share: ¥63.66

    Full-year profit per share: ¥123.28

    Notes:

11. The second quarter-end dividend will be paid based on the number of shares outstanding prior to the consolidation of shares.

12. Dividend amount calculated based on the number of shares outstanding prior to the consolidation of shares.

13. The full-year dividend for the fiscal year ending March 31, 2018, would be ¥37.00 per share (based on the number of shares outstanding prior to the consolidation of shares).

14. (Supplementary Explanation Materials for Financial Results)

    The Supplementary Explanation Materials will be posted on the Company's website on Thursday, November 9, 2017.