Sumitomo Corp Cptl. 55XW Revision of Projections on Performance

  Sumitomo Corp Cptl. (55XW) - Revision of Projections on Performance

RNS Number : 6407P
Sumitomo Corp Capital Europe PLC
26 October 2012


For immediate release

                                                              October 25, 2012

To whom it may concern

                                                          Sumitomo Corporation

                                          Kuniharu Nakamura, President and CEO

                           Code no:8053 Tokyo Stock Exchange(TSE),1^st Section

                                                    Contact: Masatoshi Hayashi

                                                Corporate Communications Dept.

                                                          TEL. +81-3-5166-3100

                                                                             

                                                                             

  Notice Regarding Revision of Projections on Performance of our Subsidiary

                         (Seven Industries Co., Ltd)

                                      

This is  to  inform you  that  a  subsidiary of  Sumitomo  Corporation,  Seven 
Industries Co., Ltd. has revised its projections on performance for the fiscal
year ending March 31, 2013(Apr 1, 2012 to Mar 31, 2013) announced on April 27,
2012.

This revision has little impact on our consolidated results.



Attachment:

Disclosed material of Seven Industries Co., Ltd

                                                                             

                                                                             

                                                                             

                                                                   Oct 25,2012

                                       Company Name: Seven Industries Co., Ltd

                                         Yoshiaki Nagayoshi, President and CEO

                                  Tokyo Stock Exchange 2nd section Code : 7896

                                 Nagoya Stock Exchange 2nd section Code : 7896

                                               Contact : Taro Tanaka, Director

                                                         TEL : +81-574-28-7800

To whom it may concern

                                      

            Notice Regarding Revision of Projection on Performance



Based on recent trends in our performance, we have revised our projections  on 
performance for FY2012 announced April 27, 2012 as follows.



●Revision of Projected Figures (Non-consolidated basis) for the first half  of 
the Performance of  the Fiscal  Year Ending March  31, 2013(April  1, 2012  to 
September 30, 2012).

 (unit:  million  yen, 
%)

                                    TotalTrading Operating Ordinary  Net    Earnings
                                    Transactions   Income    Income  Income     Per
                                                                            Share(yen)
Previouslyannouncedprojection(A)     6,070        150     120     95      6.37
Currently revised projections(B)        5,447        62        41      36      2.46
Change (B-A)                           (623)       (88)    (79)    (59)      -
Rate of change                         (10.3)      (58.7)   (65.8)   (62.1)      -
Performance of previous term;                                                

The first half of fiscal year           5,480        10       (9)   (51)    (3.46)

(April 1,2010 to September 30,2010)



Reason of Revision

(1) Projection of the first half of Fiscal Year

Under difficult economic condition, housing  industry at first half of  fiscal 
year 2012 still proceeded in difficult situation as seen from low level of new
housing starts, and especially fall of number of owned houses compared to same
period in previous  year. As for  our company, performance  of panel  business 
progressed in  severely difficult  situation as  orders of  Japanese  building 
materials and panel stairs dropped below from our prospects earlier.

Therefore our sales,  operation income,  ordinary income, and  net income  are 
expected to go below our projection  and hereby make announcement of  revision 
of the projection.



(2) Projection for the full Fiscal Year

From  the  third  quarter  onward,  we  are  intended  to  take  measures  for 
improvement in  productivity and  reinforcement of  sales. Therefore  at  this 
moment, we are not  making revision for the  projection for the third  quarter 
and after.



                                                                             

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


MSCMMMZGGVLGZZM -0- Oct/26/2012 10:27 GMT
 
Press spacebar to pause and continue. Press esc to stop.