SUMIDA: Investor News

Notice on Extraordinary Loss & Profit

February 12th 2014 Press Release

SUMIDA CORPORATION announced the following extraordinary loss and profit for the consolidated FY2013 (January 1, 2013 - December 31, 2013).

  1. Extraordinary Loss
    1. Damages caused by floods in central Europe
      We announced about the damages caused by the floods in central Europe over two press releases dated June 5th & 19th, 2013. In addition, posting of tentative extraordinary loss from the flood damages for the second quarter of FY2013 was announced in another release dated July 31, 2013.

      In the consolidated FY2013 that ended December 31, 2013, the following extraordinary losses were booked.
      in JPY millions  
      Fixed costs during a period of suspended operations 518
      Expenses to restore the status quo of the damaged assets 664
      Loss on disposal of fixed assets and inventory 559

      Total 1,742


    2. Impairment Loss
      The following impairment losses were booked in the consolidated FY2013.

      (Business segment)
      Location Category Amount
      (JPY millions)
      Production Facilities (Asia/Pacific business) Sumida Electric (H.K.) Company Limited (Hong Kong) Building & structure 710
      Office  (Asia/Pacific business) Sumida Electric Co., Ltd. (Tokyo) Building 24
      Office (Headquarters expense) Sumida Corporation (Tokyo) Building 13
      Total     748

      Impairment loss was calculated as the difference between estimated recoverable value and book value of the idle assets which are not expected to be used in the future.
  2. Extraordinary Profit
    The following extraordinary profits were booked in the consolidated FY2013.
    1. Insurance money fo r the floods' damage:  1,426 million JPY
    2. Profit on sales of office building:  1,170 million JPY
    3. Others:  20 million JPY
    4. Total:  2,634 million JPY


Please click on the press release link above to view a pdf version of this item.