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SUMITOMO, The Current Fiscal Year Net Income Revised Upward by 6%

Tue Feb 4, 2025 1:00 pm JST Earnings

8053 SUMITOMO CORPORATION 【IFRS】

Earnings Report

SUMITOMO CORPORATION <8053> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on February 4th (13:00). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 3.1% from the same period last year, reaching 416 billion yen.

In addition, the full-year consolidated net income has been revised upward 5.7%, from the previous forecast of 530 billion yen to 560 billion yen (compared to 386 billion yen in the previous period), increasing the growth rate from 37.2% to 44.9%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) is expected to increase 10.9%, from the previous forecast of 276 billion yen to 306 billion yen (compared to 101 billion yen in the same period of the previous year), increasing the growth rate from 2.7 times to 3.0 times.

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 36.3% from the same period last year, reaching 162 billion yen.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2022 5,070,062 601,429 464,375 371.3 83.2 Feb 6, 2023 IFRS
Apr - Dec, 2023 5,064,258 502,706 404,106 330.3 95.3 Feb 5, 2024 IFRS
Apr - Dec, 2024 5,319,722 524,995 416,464 343.5 Feb 4, 2025 IFRS
YoY +5.0% +4.4% +3.1% +4.0%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 Prev 276,037 228.1 65 Oct 31, 2024 IFRS
Oct - Mar, 2024 New 306,037 252.9 65 Feb 4, 2025 IFRS
Revision Rate +10.9% +10.9%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 530,000 438.0 130 May 2, 2024 IFRS
Mar, 2025 New 560,000 462.8 130 Feb 4, 2025 IFRS
Revision Rate +5.7% +5.7%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 3,566,468 180,351 101,467 83.0 62.50 May 2, 2024 IFRS
Oct - Mar, 2024 Guidance 306,037 252.9 65 Feb 4, 2025 IFRS
YoY +201.6% +204.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 6,817,872 723,122 565,333 452.6 115 May 9, 2023 IFRS
Mar, 2024 6,910,302 527,646 386,352 315.9 125 May 2, 2024 IFRS
Mar, 2025 Guidance 560,000 462.8 130 Feb 4, 2025 IFRS
YoY +44.9% +46.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2023 1,720,424 155,411 119,221 97.5 0.0 Feb 5, 2024 IFRS
Jan - Mar, 2024 1,846,044 24,940 -17,754 -14.5 0.0 May 2, 2024 IFRS
Apr - Jun, 2024 1,771,729 166,934 126,319 103.9 0.0 Jul 31, 2024 IFRS
Jul - Sep, 2024 1,746,751 162,805 127,644 105.2 0.0 Oct 31, 2024 IFRS
Oct - Dec, 2024 1,801,242 195,256 162,501 134.1 0.0 Feb 4, 2025 IFRS
YoY +4.7% +25.6% +36.3% +37.6%

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