SUMITOMO CORPORATION <8053> surged in the afternoon session. Around 1:00 p.m. today, along with the announcement of its consolidated earnings results for the fiscal year ending March 2026, the company disclosed its full-year earnings forecast for the fiscal year ending March 2027. Net profit is projected at 630 billion yen (up 4.9% year-on-year). The company also announced a stock split of 1 share into 4 shares with a record date of June 30, as well as a share buyback and cancellation program with an upper limit of 22 million shares (approximately 1.8% of total shares issued excluding treasury stock) and 80 billion yen in acquisition value. These announcements attracted buying interest. The annual dividend forecast is set at 20 yen for both interim and year-end, totaling 40 yen, which represents a substantial increase of 2.50 yen on a post-split basis.

For the current fiscal year, the company expects growth in the digital sector, which broadly addresses domestic and international digital and IT needs; the leasing sector, where owned and managed aircraft have expanded following the acquisition of a U.S. aircraft leasing company; and the energy solutions sector, which continues initiatives in domestic and international IPP and IWPP projects in anticipation of rising electricity demand accompanying AI proliferation. Meanwhile, a buffer of 30 billion yen has been incorporated into the net profit forecast as a safeguard against further uncertainties in the Middle East situation. The share buyback will be conducted through market purchases on the Tokyo Stock Exchange from May 7 to March 31 next year. All acquired shares will be cancelled on April 9 next year.

Source: MINKABU PRESS

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