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Sumitomo Electric Industries Ltd amends consolidated mid-year and full-year outlook for FY 2015


Wednesday, 16 Jul 2014 02:00am EDT 

Sumitomo Electric Industries Ltd:Says the company amended the consolidated mid-year outlook for the FY ending March 2015.Confirmed the revenue at 1,300,000 million yen.Confirmed the operating profit forecast at 45,000 million yen.Ordinary profit forecast decreased to 54,000 million yen from 55,000 million yen.Net profit forecast increased to 73,000 million yen from 30,000 million yen.Earnings per share forecast increased to 92.03 yen from 37.82 yen.Says the company amended the consolidated full-year outlook for the FY ending March 2015.Confirmed the revenue at 2,700,000 million yen.Confirmed the operating profit forecast at 125,000 million yen.Ordinary profit forecast decreased to 142,000 million yen from 145,000 million yen.Net profit forecast increased to 111,000 million yen from 70,000 million yen.Earnings per share forecast increased to 139.94 yen from 88.25 yen.FY 2015 revenues of 2,744.39 billion yen, reported net profit of 83.84 billion yen – Thomson Reuters I/B/E/S.Comments that decreased investment income and gain on sale of investment securities due to selling shares of Sumitomo 3M are the main reasons of the forecast.