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Sumitomo Electric Industries Ltd Raises Full-year Consolidated Outlook for FY 2014


Thursday, 31 Oct 2013 02:00am EDT 

Sumitomo Electric Industries Ltd announced that it has raised its full-year consolidated outlook for revenue from JPY 2,400,000 million to JPY 2,500,000 million, operating profit from JPY 100,000 million to JPY 110,000 million, ordinary profit from JPY 120,000 million to JPY 135,000 million, net profit from JPY 60,000 million to JPY 65,000 million, and earnings per share from JPY 75.64 to JPY 81.95, for the fiscal year ending March 31, 2014. The Company raised its full-year consolidated outlook mainly due to the increase in demands for wire harness and carbide tool as well as cost reduction and depreciation of yen. According to I/B/E/S Estimates, analysts on average are expecting the Company to report its full-year consolidated outlook for revenue of JPY 2,455,230 million, operating profit of JPY 120,550 million and net profit of JPY 77,130 million, for the same fiscal year.