Sumitomo Electric, The Current Fiscal Year Ordinary Profit Revised Upward by 4%, Raises Record High Profit Forecast

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Tue Feb 4, 2025 3:00 pm JST Earnings

5802 Sumitomo Electric Industries, Ltd. 【J-GAAP】

Earnings Report

Sumitomo Electric Industries, Ltd. <5802> [TSE Prime] announced its financial results in the afternoon session on February 4th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) expanded 197 billion yen, an increase 42.0% compared to the same period last year.

In addition, the full-year consolidated ordinary profit has been revised upward 4.3%, from the previous forecast of 255 billion yen to 266 billion yen (compared to 215 billion yen in the previous period), increasing the growth rate from 18.4% to 23.5%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has been revised upward 8.3%, from the previous forecast of 133 billion yen to 144 billion yen (compared to 154 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 13.8% to 6.7%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 76.2 billion yen, a 3.1% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 7.0% in the same period last year to 7.3%.

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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	2,911,973	94,825	101,093	55,554	71.2	58.3	Feb 2, 2023	J-GAAP
Apr - Dec, 2023	3,221,926	148,332	139,441	77,192	99.0	64.8	Feb 5, 2024	J-GAAP
Apr - Dec, 2024	3,441,239	206,839	197,959	113,684	145.8	74.4	Feb 4, 2025	J-GAAP
YoY	+6.8%	+39.4%	+42.0%	+47.3%	+47.3%

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	2,302,222	140,685	133,296	74,245	95.2	41	Nov 1, 2024	J-GAAP
Oct - Mar, 2024 New	2,352,222	160,685	144,296	84,245	108.0	41	Feb 4, 2025	J-GAAP
Revision Rate	+2.2%	+14.2%	+8.3%	+13.5%	+13.5%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	4,550,000	260,000	255,000	150,000	192.3	77	Nov 1, 2024	J-GAAP
Mar, 2025 New	4,600,000	280,000	266,000	160,000	205.2	77	Feb 4, 2025	J-GAAP
Revision Rate	+1.1%	+7.7%	+4.3%	+6.7%	+6.7%

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	2,330,711	159,289	154,582	123,027	157.8	52	May 10, 2024	J-GAAP
Oct - Mar, 2024 Guidance	2,352,222	160,685	144,296	84,245	108.0	41	Feb 4, 2025	J-GAAP
YoY	+0.9%	+0.9%	-6.7%	-31.5%	-31.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	4,005,561	177,443	173,348	112,654	144.5	50	May 12, 2023	J-GAAP
Mar, 2024	4,402,814	226,618	215,341	149,723	192.0	77	May 10, 2024	J-GAAP
Mar, 2025 Guidance	4,600,000	280,000	266,000	160,000	205.2	77	Feb 4, 2025	J-GAAP
YoY	+4.5%	+23.6%	+23.5%	+6.9%	+6.9%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	1,149,823	81,003	78,682	50,496	64.8	7.0	Feb 5, 2024	J-GAAP
Jan - Mar, 2024	1,180,888	78,286	75,900	72,531	93.0	6.6	May 10, 2024	J-GAAP
Apr - Jun, 2024	1,115,547	53,285	58,793	31,763	40.7	4.8	Aug 1, 2024	J-GAAP
Jul - Sep, 2024	1,132,231	66,030	62,911	43,992	56.4	5.8	Nov 1, 2024	J-GAAP
Oct - Dec, 2024	1,193,461	87,524	76,255	37,929	48.6	7.3	Feb 4, 2025	J-GAAP
YoY	+3.8%	+8.1%	-3.1%	-24.9%	-24.9%