All Reports

2016

Q3 Financial results overview

3rd Quarter, Fiscal Year 2016
(July 1, 2016 through September 30, 2016)

Being an important business barometer to measure the world’s economic trends, global new car sales continue to be going strong, with Europe serving as the driving force of this. In addition, new car sales in China have increased more than 20% compared to the previous year. This is due to the government issued tax break which continues to give a reduction in sales tax from 10% to 5% through to the end of this year for small cars with an engine size of 1600-cc or less; this accounts for 70% of total new car sales in China.

Under these circumstances, we exceeded our sales over last year on a local currency basis. Our good performance was driven by strong market demand in the automotive-related area, as well as, for new generations of Smartphones in the area of consumer electronics.
Our overall profit increase was attributed to a weak renminbi (positively affecting our production costs) and low prices of raw materials in addition to the results of our continuous efforts towards cost-cutting/improving efficiency in production.

During the period of July to September 2016, the value of the Japanese yen increased 15.9%, 16.4% and 20.7% against the U.S. dollar, the euro and the renminbi respectively when compared to the same quarter last year. In spite of this rapid appreciation of the yen, our profit structure was not susceptible to the negative effects of these FOREX fluctuations, thanks to our efforts to hedge and carefully manage the currencies we use in our daily business transactions.
In the third quarter of 2016, consolidated sales were down 10.3% to 19,876 million yen due to yen’s rapid appreciation, but they exceeded our figures from the previous year on a local currency basis. In terms of profit, operating income was up 14.9% to 1,706 million yen, ordinary income increased 35.9% to a record high of 1,530 million yen and net income increased by 1.9% to 779 million yen.

For the period of nine months ending September 30th 2016, the second year of the current mid-term business plan 2015-2017, we achieved 69.8% of the annual sales budget for 2016. However, more notably, we achieved 94.8%, 92.3% and 94.4% of our annual budget for operating income, ordinary income and net income respectively. With the exception of our yen-based sales which were negatively affected by the currency’s appreciation during this time period, our total performance was significantly strong throughout the third quarter.

With no negative factors expected in the fourth quarter, we are determined to keep up this momentum of strong growth and achieve our final targets for the current mid-term business plan 2015 – 2017.

Summary of Consolidated Financial Results

Summary of Consolidated Financial Results

Q2 Financial results overview

2nd Quarter, Fiscal Year 2016
(April 1, 2016 through June 30, 2016)

New car sales in Europe have continued to increase for 34 consecutive months on a year-on-year basis thanks to strong sales in Southern Europe countries such as France, Italy and Spain. Sumida’s automotive business has significantly benefited from this trend of growth in Europe. Our profit performed well through good sales, but it was greatly enhanced by cost reduction being achieved through savings in wages due to freezing of wage increase in China and depreciation of renminbi. The low prices of copper and other raw materials related to low oil prices helped to keep the total manufacturing costs down, too. In the meantime, Britain’s vote to exit the EU surprised the world financial markets. We need to closely monitor the aftermath of the UK’s decision since the volatile Euro against the U.S. dollar/yen may affect our business environments in many ways for quite some time to come.

In the second quarter of 2016, automotive-related sales were strong with a focus on Europe. Due to yen’s sharp appreciation, total sales were down 4.7% from the previous year to 20,921 million yen, which, however, were higher than last year’s on a local currency basis. In terms of profit, operating income was up 45.8% from the previous year to 1,785 million yen with ordinary income up 54.9 % to 1,528 million yen and net income up 143.1% to 1,097 million yen, respectively. They were all record-high profits on quarterly basis, thanks to freezing of wage increase in China, depreciation of renminbi and other factors not forgetting our manufacturing team’s overall cost reduction programs. In the last several months, people from mass media and the Ministry of Economy, Trade and Industry visited us to learn about Sumida’s corporate governance. It seems that corporate governance systems at Japanese corporations have attracted a lot of attention these days with Stewardship Code and Corporate Governance Code released from the government. Sumida was the first listed company in Japan that adopted Committee System in 2003. We are determined to continue to seek ideal corporate governance in order to maximize our corporate value.

Summary of Consolidated Financial Results

Q1 Financial results overview

1st Quarter, Fiscal Year 2016
(January 1, 2015 through March 31, 2016)

The 61st annual shareholders meeting of Sumida Corporation was held on March 21, a public holiday in Japan, at the Hilton Tokyo Odaiba with the biggest-ever attendance of 175 shareholders, 33 more shareholders than last year. I would like to take this opportunity to express my heartfelt thanks to those who attended the meeting. During an active question and answer session, one of the shareholders pointed out that I might be too optimistic about prospects for China economy as I presented this year’s business plan with increased sales and profit in spite of the many unforeseeable factors which could threaten the current business environments. However, I responded to him by saying that I felt based on my experience of having lived for more than 30 years in Asia and in China, Sumida’s main production sites that China could still keep a single digit growth although a high growth period of more than 10% might have been over. I also explained to him that Sumida have been dispersing risks by diversifying business into three major markets as well as spreading production sites across the globe in preparation for a sudden deterioration of China economy for any reason.

In the first quarter of 2016, our automotive-related sales were strong as large car sales in the United States increased due to low-priced gasoline and new car sales in Europe continued increasing for 31 consecutive months. However, total sales were down 4.5% to 20,603 million yen on a year-on-year basis. In terms of profit, operating income increased 6.2% to 1,064 million yen tanks to savings of law material costs in addition to improvement of production efficiency. Ordinary income decreased 11.1% to 810 million yen and net income attributable to owners of parent also dropped 21.8% to 483 million yen from a year earlier, which were negatively impacted by foreign exchange rates.

The late Ichiro Yawata started Sumida 60 years ago with a strong determination to establish a company that would never go bankrupt. As 2016 is the 60th anniversary for Sumida, all
Sumida employees are getting excited about many events being planned within Sumida Group. But, I, as CEO of Sumida Group, am planning to visit as many Sumida business locations in the world as possible through the end of this year to convey our founder’s principles and Sumida DNA to the next-generation employees, as well as to ask them what images and directions they have in mind with regards to future development of Sumida Group beyond the third stage of our mid-term business plan (2018-2020), which I think will play an important role in the shaping of my leadership behavior for the coming years.

Summary of Consolidated Financial Results

1Q16 Results Summary

2015

AGM Annual General Meeting

SUMIDA CORPORATION would like to inform you that the 61st Annual General Meeting of Shareholders will be held as outlined below.

Date: Monday, March 21, 2016
Venue: Orion, Hilton Hotel Tokyo (1st Floor), 1-9-1 Daiba, Minato-ku, Tokyo (map)
Agenda:  The election of seven (7) directors 
Start Time: 13:00
End Time: 14:13
Number of Attended Shareholders: 175

In the following, we inform you on the reported items, the resolutions and the enquiries from the shareholders.

 

Reported Items:

  1. Business Report, consolidated financial statements and a report on the audit results of consolidated financial statements by the accounting auditors and the audit committee for the 61st term (January 1 to December 31, 2015)
  2. Non-consolidated financial statements for the 61st term (January 1 to December 31, 2015)

Resolved Items:
Agenda No. 1: Appointment of seven (7) directors
Mr. Shigeyuki Yawata, Mr. Johji Sato, Mr. Pak Hong Auyang, Soichiro Uchida and Mr. Yukihiro Moroe, Mr. Atsushi Kato, and Mr. Michael Mühlbayer were reappointed as proposed.

 


Links to Related Information:

Financial Results for FY2015


General Enquiries:
PR/IR Team
Tel: +81-3-6758-2473

Q4 Financial results overview

4th Quarter, Fiscal Year 2015
(October 1, 2015 through December 31, 2015)

We have enjoyed a quite successful year in 2015, the first year of the Mid-Term Business Plan Stage II (2015-2017). With continuing strong automotive-related sales, our total sales were up 11% from the record-high level of the previous year. During 2015, we focused on expanding production capacity in various parts of the world such as in Romania, Slovenia and Mexico as well as in China and Vietnam. On the sales front, we strengthened our distributor networks in the U.S. and China, and thus preparations for becoming a 100 billion yen sales company have been completed from the aspects of both production and sales.

In 2015, new car sales increased in Europe and the U.S. thanks to a favorable economy and a low-priced gasoline. In addition, with increasing number of electrical systems and devices recently developed for use in automobiles, demand for our automotive-related products has steadily increased. As a result, our total sales grew 11.2% in 2015 over the previous year to 86,237 million yen, marking the second consecutive record-breaking annual sales. In terms of profit, expansion of production capacity in the lower-cost areas, automation of automotive-related production lines and enhancement of production efficiency as well as reduction of law materials costs all contributed to a profit increase. Operating income, ordinary income and net income were up 26.7%, 18.2% and 51.0% respectively from a year earlier, to 4,237 million yen, 3,309 and 2,032 million yen respectively. Linking dividend to the profit increase, total dividend payout for the year of 2015 has been decided to be 26 yen per share, an increase of 6 yen per share from the previous year.

For 2016, we have some concerns about an adverse effect on the world economy from a deteriorating China economy and a substantial decline of oil prices. On the other hand, with the aid of low-priced gasoline as well as of last-minute demand for cars before increase of consumption tax in Japan and termination of automobile acquisition tax reduction in China, the world’s new car sales is expected to increase 3% in 2016 over 2015. On top of that, depreciation of renminbi and a decline in raw materials prices will serve as costs reduction factors for Sumida. Under these circumstances, Sumida’s total sales are expected to grow 2.0% in 2016 to 88 billion yen with operating income of 4.77 billion yen, up 12.6% from 2015. Being the 60th anniversary of Sumida’s foundation, 2016 is a very important year for Sumida to achieve the Mid-Term Business Plan Stage II (2015-2017). Everyone in the Sumida Group will prepare for the final year of 2017 with the utmost efforts during 2016.

Summary of Consolidated Financial Results
Summary of Consolidated Financial Results

Q3 Financial results overview

3rd Quarter, Fiscal Year 2015
(July 1, 2015 through September 30, 2015)

Total sales in fiscal 2015 third quarter ended September 30, 2015 were up 9.1% from the same quarter a year ago to 22,152 million yen due to the continued strong automotive-related sales reflecting the robust new car sales in Europe and the U.S. which are major battle grounds for Sumida.

The third quarter sales have reached an all-time high beating the previous record set in the second quarter of this year.

In terms of profit, operating profit grew 3.4% from the same period last year to 1,484 million yen, which has also hit a record high for the first time in eight years since 2007 third quarter.

Summary of Consolidated Financial Results
3Q15 Financial Results

Q2 Financial results overview

2nd Quarter, Fiscal Year 2015
(April 1, 2015 through June 30, 2015)

Consolidated sales for the second quarter of 2015 was up 15.7% from the same quarter of last year to 21,961 million yen. This was driven by steady automotive-related sales in North America and Europe on the back of increased sales of high-end cars.

Our consolidated quarterly sales for the second quarter in 2015 broke our previous quarterly sales record which was achieved in the first quarter of 2015.

In terms of profit, operating income and ordinary income were up 51.6% to 1,224 million yen and 54.0% to 987 million yen respectively. Net income for the quarter was 451 million yen compared to 440 million yen in the same quarter last year.

Summary of Consolidated Financial Results
2Q15 Financial Results

Q1 Financial results overview

1st Quarter, Fiscal Year 2015
(January 1, 2015 through March 31, 2015)

Consolidated sales for the first quarter of 2015 was 21,585 million yen, up 15.8% when compared to the same period of last year. This result was thanks to steady automotive-related sales in North America and Europe due to increased sales of high-end cars. The Yen’s depreciation against the US dollar also contributed to the sales increase. However, sales to the consumer electronics market was not fully recovered with the exception of smartphones. 

Our consolidated quarterly sales for the first quarter of 2015 was the highest ever recorded and broke our previous record high which we achieved in the third quarter in 2014.

In terms of profit, operating income and ordinary income were up 91.4% to 1,003 million yen and 164.8% to 911 million yen respectively. Net income for the quarter was 618 million yen compared to 246 million yen in the same quarter last year.

 Summary of Consolidated Financial Results

1Q15 Results Summary

2014

AGM Annual General Meeting

60th Annual General Meeting of Shareholders

Overview
Date:  Saturday, March 21st, 2015
Venue:  Orion, Hotel Nikko Tokyo (1st Floor), 1-9-1 Daiba, Minato-ku, Tokyo
Start Time:  12:00 noon
End Time:  1:30 p.m.
Number of Attended Shareholders:  142

In the following, we inform you on the reported items, the resolutions and the enquiries from the shareholders.


Reported Items:

  1. Business Report, consolidated financial statements and a report on the audit results of consolidated financial statements by the accounting auditors and the audit committee for the 60th term (January 1 to December 31, 2014)
  2. Non-consolidated financial statements for the 60th term (January 1 to December 31, 2014)

Resolved Items: 

Agenda No. 1: Appointment of seven (7) directors
Mr. Shigeyuki Yawata, Mr. Johji Sato, Mr. Pak Hong Auyang, Soichiro Uchida and Mr. Yukihiro Moroe were reappointed as proposed. Mr. Atsushi Kato and Mr. Michael Mühlbayer were newly appointed this year as proposed. 

Agenda No. 2: Issuance of performance-linked stock acquisition rights
This resolution item was approved as proposed.

Inquiries from Shareholders:

  • Compliance
  • Efficient control of numerous subsidiaries
  • Reasons for the 100 billion JPY sales target
  • Development of the operating cash-flow
  • Reasons for the share price drop
  • Our strength
  • Performance-linked stock acquisition rights and their impact on existing shareholders
  • Production measures in order to achieve the 100 billion JPY sales target
  • Future thoughts about the location in China

Links to related information

Fiscal Year 2014 Financial Results
Link Icon   Information regarding the 60th Annual General Meeting of Shareholders 

Q4 Financial results overview

4th Quarter, Fiscal Year 2014
(October 1, 2014 through December 31, 2014)

Net sales for the fiscal year 2014 increased by 13,669 million yen (21.4%) from the previous fiscal year to 77,563 million yen, partly attributable to the depreciation of the yen and the appreciation of the U.S. dollar and euro compared to the previous fiscal year.

Despite continued sluggish growth of consumer electronics related products with the exception of those for smartphones and tablet PCs, robust sales of automotive and industrial products drove our performance. In the automotive market, the advance in automotive electrification for safety, environment, comfort technologies as well as strong demand for luxury vehicles in Europe and North America drove growth. In the industrial market, there was strong demand for factory automation equipment and other industrial products.

Operating income increased by 97.0% year on year to 3,345 million yen owing to productivity improvements and price reduction for raw materials as well as revenue increase. Net income was 1,346 million yen (in FY2013, a net loss of 2,008 million yen was posted partly due to the impact of flood damage in Germany and the review of recoverability of deferred tax assets).

Summary of Consolidated Financial Results
4Q14 Results Summary

Q3 Financial results overview

3rd Quarter, Fiscal Year 2014
(July 1, 2014 through September 30, 2014)

The consolidated net sales for the period increased by 19.0% compared to the same period in 2013 to 20,304 million yen. Contributing to this growth were a number of factors: the smartphone market which showed a significant growth in the consumer electric- related business,  the increase in production of vehicles and electrification which boosted the demand for electric devices in the automotive-related business, the growth of industrial instruments in industry-related business, as well as the depreciation of the Japanese yen against the US dollar & Euro through the 3rd quarter FY2014.

With the increase in sales, an operating income amounting to 1,436 million yen (114.1% compared to the same period in 2013) and an ordinary income of 1,378 million yen was achieved (194.6% compared to the same period in 2013). Net income was 650 million yen, which is 70.2% compared to the same period in 2013.

Summary of Consolidated Financial Results
3Q14 Results Summary

 
Q2 Financial results overview

2nd Quarter, Fiscal Year 2014
(April 1, 2014 through June 30, 2014)

Consolidated sales for the second quarter in 2014 were up 18.5% from the same quarter of last year to 18,986 million yen thanks to steady automotive-related sales in North America and Europe. In the automotive industry, increased production and advancing electrification contributed to an increase in demand for electronic components, although in the consumer electronics market sales were not fully recovered. Yen’s depreciation against US dollars and euro also contributed to the sales increase.

In terms of profit, operating income and ordinary income were up 80.0% to 808 million yen and up 92.5% to 641 million yen respectively. An extraordinary loss of 292 million yen due to damages caused by last year’s floods in Germany was offset by extraordinary income from insurance money of 375 million yen. Net income for the quarter was 404 million yen compared to net loss of 2,082 million yen in the same quarter last year.

Summary of Consolidated Financial Results

2Q14 Results Summary

Q1 Financial results overview

1st Quarter, Fiscal Year 2014
(January 1, 2014 through March 31, 2014)

Consolidated sales for the first quarter in 2014 were up 31.1% from the same quarter of last year to 18,647 million yen thanks to steady automotive-related sales in North America and Japan on the back of increased sales of high-end cars, although consumer electronics sales were not fully recovered. Yen’s depreciation against US dollars and euro also contributed to the sales increase.

In terms of profit, operating income and ordinary income were up 117.9% to 524 million yen and 114.2% to 344 million yen respectively. As extraordinary loss of 116 million yen due to damages caused by last year’s floods in Germany was offset by extraordinary income from insurance money of 171 million yen, net income for the quarter was 246 million yen compared to 26 million yen in the same quarter last year.

Summary of Consolidated Financial Results

1Q14 Results Summary

2013

AGM Annual General Meeting

59th Annual General Meeting of Shareholders

Overview
Date:  Friday, March 21st, 2014
Venue:  Apollon, Hotel Nikko Tokyo (1st Floor), 1-9-1 Daiba, Minato-ku, Tokyo
Start Time:  1pm
End Time:  2:28pm
Number of Attended Shareholders:  126

In the following, we inform you on the reported items, resolved items and the inquiries from the shareholders at the meeting.

 

Reported Items:

1. Business Report, consolidated financial statements and a report on the audit results of consolidated financial statements by the accounting auditors and the audit committee for the 59th term (January 1 to December 31, 2013).

2. Non-consolidated financial statements for the 59th term (January 1 to December 31, 2013).

Resolved Items: CEO on Podium

Agenda: Appointment of nine (9) directors
Mr. Shigeyuki Yawata, Mr. Ulrich Ruetz, Mr. Johji Sato and Mr. Pak Hong Auyang were reappointed as proposed. Mr. Soichiro Uchida and Mr. Yukihiro Moroe were newly appointed this year as proposed.

Inquiries from Shareholders:

  • Forecast of labor wage increase in China
  • Sales size of the business which was acquired from Nihon Koden
  • Advantage of the western-style governance system
  • View on replacing manufacturing site in Japan
  • Mid-term business plan
  • View on current share price level
  • Capital Ratio
  • Cash flow statement
  • Communication in the company
  • Forex assumption

 

AGM Venue

 

 

 

 

 

 

 

Q4 Financial results overview

4th Quarter, Fiscal Year 2013

Net sales for the current fiscal year increased by 24.5% from the previous fiscal year to 63,893 million yen, which was partly attributable to the depreciation of the yen against the U.S. dollar and the euro compared to the previous fiscal year.

Operating income decreased by 3.2% year on year to 1,698 million yen because, in spite of stable prices for raw materials such as copper, there were such factors as rising costs due to the further depreciation of the yen against the U.S. dollar and Ordinary income decreased by 3.5% year on year to 1,107 million yen due to foreign exchange losses despite the improvement in non-operating income and expenses due to such factors as an increase in gain on valuation of derivatives and a decrease in interest expenses.

In net income (loss), the Company posted a 2,008 million yen net loss (net income of 725 million yen for the previous fiscal year.) The net loss resulted from such factors as insurance income of 1,426 million yen in extraordinary income due to the impact of floods damage in Germany offset by 1,742 million yen in loss on disaster in extraordinary losses. And, in consideration of the current business environment including the impact of floods, the Company decided to reverse deferred tax assets as the result of a review of recoverability of deferred tax assets and recorded income taxes-deferred of 2,089 million yen.

Summary of Consolidated Financial Results

FY13 Results Summary

Q3 Financial results overview

3rd Quarter, Fiscal Year 2013

In the third quarter of 2013, total consolidated sales was up 29.1% from the same quarter of last year to 17,068 million yen due to steady sales of smart entry system that stimulated new demands in Europe and U.S. as well as in China. New models of smart phones also contributed to the sales increase. In terms of profit, operating income was up 12.9% compared to the previous year to 670 million yen due to earlier-than-expected recovery from the floods in Germany in June on top of the increased revenue.

Summary of Consolidated Financial Results

3Q13 Results Summary

Q2 Financial results overview

2nd Quarter, Fiscal Year 2013

In the second quarter of 2013, total sales increased 20.0% to 16,021 million yen compared to the same period last year thanks to continuous sales expansion in North America with a central focus on automotive sales, and a quick recovery of FA (Factory Automation)-related industrial sales in China as well as weakening exchange rates of yen.

In terms of profit, in addition to not having achieved business plan in local currencies basis, due to 19% significantly higher-than-expected minimum wage increase implemented in May in Guangdong Province in China and yen’s further depreciation against the dollar, operating income was down 20.4% year on year to 449 million yen, which was however 87.1% up from the previous quarter. Along with extraordinary loss of 569 million yen booked for the damages caused by the floods in Germany, a part of deferred taxes had to be reversed as a result of downward revision of earnings forecast for the year to December, making net loss for this quarter 2,082 million yen.

Summary of Consolidated Financial Results

2Q13 Results Summary

Q1 Financial results overview

1st Quarter, Fiscal Year 2013

In the first quarter of 2013, total sales increased 15.0% to 14.2 billion yen compared to the same quarter last year and achieved the highest quarterly sales since the third quarter of 2008 due to increased automotive sales in North America and surging sales of renewable energy-related products in Japan. In terms of profit, operating income was up 14.7% to 240million yen compared to the same quarter last year. Depreciation of the yen against US dollar and euro during the first quarter of 2013, average of which were 89.6 yen per dollar (77.7 yen in 1Q-2012) and 118.9 yen per euro (101.8 yen in 1Q-2012) respectively also contributed to this favorable performance in the first quarter of 2013. 

Summary of Consolidated Financial Results

1Q13 Results Summary

2012

AGM Annual General Meeting

58th Annual General Meeting of Shareholders

Overview
Date:  Wednesday, March 20th, 2013
Venue:  Apollon, Hotel Nikko Tokyo (1st Floor), 1-9-1 Daiba, Minato-ku, Tokyo
Start Time:  1pm
End Time:  1:51pm
Number of Attended Shareholders:  131

In the following, we inform you on the reported items, resolved items and the inquiries from the shareholders at the meeting.

 

Reported Items:
1. Business Report, consolidated financial statements and a report on the audit results of consolidated financial statements by the accounting auditors and the audit committee for the 58th term (January 1 to December 31, 2012).

2. Non-consolidated financial statements for the 58th term (January 1 to December 31, 2012).

Resolved Items:CEO on Podium
Agenda: Appointment of nine (9) directors
Mr. Shigeyuki Yawata, Mr. Kohtaro Miyagi, Mr. Ulrich Ruetz, Mr. Masaru Hattori and Mr. Charles F. Martin, Mr.Nobuyuki Oneda, Mr.Shinji Yoko were reappointed as proposed. Mr.Johji Sato and Mr. Auyang Pak Hong were newly appointed this year as proposed.

Inquiries from Shareholders:

  • Major efforts to reducing cost
  • China Plus 1 and risk management in China

 

AGM Venue

 

 

 

 

 

 

 

Q4 Financial results overview

4th Quarter, Fiscal Year 2012

In 2012 Q4, total sales was 12,358 million yen and operating income was 374 million yen, up 3.7% and 24.5% respectively compared to the same quarter last year. For FY 2012, due to stagnant sales in the consumer electronics, total sales ended up with 51.3 billion yen, down 2.8 % from last year. Operating income was also down 19.1% to 1.7 billion yen compared to the previous year.

Operating income which exceeded last year’s in Q4 could not make up for a decline in the preceding quarters. 

Summary of Consolidated Financial Results

FY12 Results Summary

Q3 Financial results overview

3rd Quarter, Fiscal Year 2012

In terms of financial highlights in Q3 2012, total sales ended up with 13 billion and 221 million yen, down 3.5% from the same quarter last year due to stagnant sales in consumer electronics, although sales in automotive continued to be strong. Yen’s sharp appreciation against euro also contributed to the decreased sales with sales in euro converted to yen.

With regards to profit, operating income was up 9.8% from last year to 582 million yen thanks to the cost-cutting measures and ordinary income increased 396.8% to 408 million yen compared with last year mainly because foreign exchange loss was significantly reduced. 

Summary of Consolidated Financial Results

3Q12 Results Summary

Q2 Financial results overview

2nd Quarter, Fiscal Year 2012

In the second quarter of 2012, total sales ended up with 13.3 billion yen, down 3.8% from a year earlier, but up 7.8% from the previous quarter in spite of yen’s excessive appreciation against euro in this quarter, a negative factor for our sales expressed in yen. Sales for automotive-related products were growing steadily, especially in Europe, but total sales were dragged down by stagnant sales in consumer electronics market.

In terms of profit, operating profit dropped 16.4% to 552 million yen on a year-on-year basis, but improved 179.2% from the previous quarter, primarily reflecting increased sales and the favorable effects on various cost-saving measures that started last year such as transfer of production lines to the lower-costs satellite factories. 

Summary of Consolidated Financial Results

2Q12 Results Summary

Q1 Financial results overview

1st Quarter, Fiscal Year 2012

Total consolidated sales was ¥12,375 million, down 6.7 percent from ¥13,259 million in the prior-year quarter for consumer electronics and industrial related grew weaker. Operating income was ¥197 million down 68.0 percent from ¥618 million in the prior-year quarter from influence of the production adjustment. Ordinary income was ¥164 million, down 75.3 percent from ¥665 million in the prior-year quarter. Quarterly net income was ¥90 million, down 78.5 percent from ¥19 million in the prior-year quarter. 

Summary of Consolidated Financial Results

1Q12 Results Summary

2011

AGM Annual General Meeting

57th Annual General Meeting of Shareholders

Overview
Date:  Tuesday, March 20th, 2012
Venue:  Apollon, Hotel Nikko Tokyo (1st Floor), 1-9-1 Daiba, Minato-ku, Tokyo
Start Time:  2pm
End Time:  3:15pm
Number of Attended Shareholders:  102

In the following, we inform you on the reported items, resolved items and the inquiries from the shareholders at the meeting.

 

Reported Items:
1. Business Report, consolidated financial statements and a report on the audit results of consolidated financial statements by the accounting auditors and the audit committee for the 57th term (January 1 to December 31, 2011).

2. Non-consolidated financial statements for the 57th term (January 1 to December 31, 2011).

Resolved Items:CEO
Agenda: Appointment of nine (9) directors
Mr. Shigeyuki Yawata, Mr. Robert E. Patterson, Mr. Ashok B. Melwani, Mr. Kohtaro Miyagi, Mr. Ulrich Ruetz, Mr. Masaru Hattori and Mr. Charles F. Martin were reappointed as proposed. Mr. Nobuyuki Oneda and Mr. Shinji Yoko were newly appointed this year as proposed.

Inquiries from Shareholders:

  • Reasons for the rise of the cost rate
  • Breakdown of the extraordinary loss/profit
  • Sales of the 4th quarter
  • Strategies how to cope with fluctuating copper prices
  • Fluctuating copper prices and foreign exchange rates
  • Operation of the financial subsidiary
  • Corresponding with rising interest rates
  • Term of office of outside directors

 ホテル日航東京 1階「オリオン」

 

Q4 Financial results overview

4th Quarter, Fiscal Year 2011

We achieved total consolidated sales of 11,913 million yen for the quarter, year-on-year decrease by 5.6%. Operating income fell year-on-year by 25.8% to 300 million yen due to increase of labor cost in China. Ordinary income was 3 million yen and net loss was 196 million yen. 

Summary of Consolidated Financial Results

FY11 Results Summary

Q3 Financial results overview

3rd Quarter, Fiscal Year 2011

Net sales for the first half of FY2011 0.8% decreased over the previous fiscal year to 13,705million yen due to a steady sales performance in Europe, mainly in automotive segment. On the other hand, sales in Asia, especially in Japan, were affected by the earthquake and tsunami in March.

Due to sluggish sales, implementation of production adjustments, price increase of copper and other raw materials, and wage increase for the workers at our Chinese factories, operating income decreased 51.9% compared to the previous fiscal year to 530 million yen.

Ordinary income was 91.5% down from the previous fiscal year to 82 million yen Compared to previous year, due to foreign exchange loss booked in non-operating expenses (as a result of the recent appreciation of the Japanese yen). As a result of the above, net income decreased 99.8% compared to the previous fiscal year to 1million yen. 

Summary of Consolidated Financial Results

3Q11 Results Summary

Q2 Financial results overview

2nd Quarter, Fiscal Year 2011

Net sales for the first half of FY2011 1.6% decreased over the previous fiscal year to 13,880million yen due to a steady sales performance in Europe, mainly in automotive segment. On the other hand, sales in Asia, especially in Japan, were affected by the earthquake and tsunami in March.

Due to price increase of copper and other raw materials, and wage increase for the workers at our Chinese factories, operating income decreased 36.2% compared to the previous fiscal year to 661 million yen. Ordinary income was 21.3% up from the previous fiscal year to 542 million yen.

Compared to previous year where we suffered a foreign exchange loss, we were able to have a foreign exchange gain this year in non-operating income/expense. As a result of the above, net income increased 7.5% compared to the previous fiscal year to 272 million yen.

Summary of Consolidated Financial Results

2Q11 Results Summary

Q1 Financial results overview

1st Quarter, Fiscal Year 2011

We achieved total consolidated sales of 13,259 million yen for the quarter, year-on-year increase by 2.8% owing to steady increase of Automotive and Industrial sales contributed to the overall sales increase.

Operating income fell year-on-year by 39.7% to 618 million yen due to sudden increase of raw material price and increase of labor cost in China. With foreign exchange gain and evaluation profit from derivatives in non-operating income, ordinary income was 665 million yen, year-on-year decrease by 15.4%. We recorded an extraordinary loss for the cost incurred for Japan disaster net income was 419 million yen, year-on-year decrease by 35.7%. 

Summary of Consolidated Financial Results

1Q11 Results Summary

2010

AGM Annual General Meeting

56th Annual General Meeting of Shareholders

Overview
Date:  Saturday, March 19th, 2011
Venue:  Apollon, Hotel Nikko Tokyo (1st Floor), 1-9-1 Daiba, Minato-ku, Tokyo
Start Time:  1pm
End Time:  1:40pm
Number of Attended Shareholders:  55

In the following, we inform you on the reported items, resolved items and the inquiries from the shareholders at the meeting.

 

Reported Items:
1. Business Report, consolidated financial statements and a report on the audit results of consolidated financial statements by the accounting auditors and the audit committee for the 56th term (January 1 to December 31, 2010).

2. Non-consolidated financial statements for the 56th term (January 1 to December 31, 2010).

Resolved Items:
Agenda: Appointment of nine (9) directors
Mr. Shigeyuki Yawata, Mr. Chiu Ka Sheung, Mr. Robert E. Patterson, Mr. Ashok B. Melwani, Mr. Kazuhide Kondo, Mr. Masato Tsuru, Mr. Kohtaro Miyagi, Mr. Ulrich Ruetz, Mr. Masaru Hattori and Mr. Charles F. Martin were reappointed as proposed.

 

Q4 Financial results overview

4th Quarter, Fiscal Year 2010

Net sales of FY2010 4th Quarter ending December 31, 2010 deceased 0.5% to 12,615 million yen compared with the same quarter of the prior year. In terms of profit, operating income was down 53.4% year on year to 404 million yen. With interest expenses and others, ordinary income and net income were 45 million yen and 415 million yen, respectively.

Summary of Consolidated Financial Results

FY10 Results Summary

Q3 Financial results overview

3rd Quarter, Fiscal Year 2010

The business has steadily improved for FY2010 3rd Quarter ended September 30, 2010. Net sales increased 12.2% to 13,829 million yen compared with the same quarter of the prior year. In terms of profit, operating income was up 77.9% year on year to 1,103 million yen, primarily reflecting increased sales, improved business structure through reduction of fixed costs, and streamlined production system. With interest expenses and others, ordinary income and net income were 961 million yen and 889 million yen, respectively.

Summary of Consolidated Financial Results

3Q10 Results Summary

Q2 Financial results overview

2nd Quarter, Fiscal Year 2010

Sales in the 2nd quarter of fiscal 2010 continued to make a good progress and increased 9.3% compared with 1Q this year to 14,107 million yen (up 40.1% year on year).

In terms of profit, due to effects of productivity improvement achieved through streamlined manufacturing as well as the increased sales, operating income grew 1.2% compared with the previous quarter to 1,037 million yen, a significant improvement from a loss of 377 million yen during the same period last year. Although 7% operating income ratio was maintained, ordinary income and net income were 448 million yen and 254 million yen respectively after booking foreign exchange loss due to a sudden depreciation of euro and interest expenses.

Summary of Consolidated Financial Results

2Q10 Results Summary

Q1 Financial results overview

1st Quarter, Fiscal Year 2010

Total consolidated sales for Sumida Group were 12,894 yen million in the 1st quarter of FY2010, up 50.3% compared with the same period last year. Sales increased for the fourth consecutive quarter starting from the 1st quarter of FY2009. A steady recovery in the automotive business and a firm market condition for the consumer electronics business which usually gets weak in the first quarter, contributed to our sales increase.

In terms of profit we achieved operating income of 1,025 million yen compared to a loss of 1,345 million yen in the 1st quarter of the prior year, reflecting not only the increased sales, but also a favorable impact from streamlined manufacturing operations and business restructuring to reduce the fixed costs.

With interest expenses and foreign exchange loss, though partially offset by a gain on derivative financial instruments, ordinary income and net income were 787 million yen and 652 million yen respectively, which, however, improved significantly from prior year period’s ordinary loss of 1,057 million yen and net loss of 1,071 million yen.

Summary of Consolidated Financial Results

1Q10 Results Summary