May 12, 2016
Listed Company Name: Sumitomo Metal Mining Co., Ltd. Code: 5713
Representative: Yoshiaki Nakazato, President and Representative
Director
Contact: Tsuyoshi Nozawa, Deputy General Manager, PR & IR Dept.
TEL: +81-3-3436-7705
Differences between Consolidated Full Year Forecast and Actual Results and between Non-Consolidated Full Year Results and Previous Year ResultsSumitomo Metal Mining Co., Ltd. (SMM) announces a difference between financial results for the year ending March 2016 (April 1, 2015 - March 31, 2016) and most recent forecast, announced on February 5, 2016. SMM also announces differences between the non-consolidated full year results and the results of the previous year.
Differences between consolidated full year forecast and actual results
Consolidated full year forecast and actual results for the year ending March 2016 (April 1, 2015 - March 31, 2016)
(units: million yen, yen, %)
Net sales
Operating income
Ordinary income
Net income attributable to owners of parent
Net income per share
Most recent forecast (A)
855,000
62,000
‐4,000
5,000
9.06
Actual results (B)
855,407
59,720
‐12,764
‐309
‐0.56
Discrepancy (B-A)
407
‐2,280
‐8,764
‐5,309
Rate of discrepancy (%)
0.0
‐3.7
-
-
Reference: Results for previous period (Year ending March 2015)
921,334
125,779
174,226
91,113
165.11
(Reason for difference)
Consolidated full year results for the year ending March 2016 showed an operating income lower than forecast mainly due to the higher yen. Ordinary income and net income attributable to owners of the parent company also fell below the forecast
mainly due to exchange rate losses due to the higher yen.
Differences between non-consolidated full year results and previous year results Non-consolidated full year results and previous year results for the year ending March 2016 (April 1, 2015 - March 31, 2016)
(units: million yen, yen, %)
Net sales | Operating income | Ordinary income | Net income | Net income per share | |
Results for previous period (A) (Year ending March 2015) | 758,771 | 77,357 | 130,237 | 57,665 | 104.49 |
Actual results (B) (Year ending March 2016) | 700,317 | 48,940 | 65,348 | 16,281 | 29.51 |
Discrepancy (B-A) | ‐58,454 | ‐28,417 | ‐64,889 | ‐41,384 | |
Rate of discrepancy (%) | ‐7.7 | ‐36.7 | ‐49.8 | ‐71.8 |
(Reason for difference)
While there were favorable factors including an increase in nickel sales volume and a depreciation of the yen, non-consolidated full year results for the year ending March 2016 showed net sales and operating income significantly lower than the previous fiscal year due to a large drop in metal prices amongst other factors. Ordinary income and net income also saw a significant fall in comparison to the previous fiscal year due to factors including exchange losses attributable to a rapid strengthening of the yen around the end of the fiscal year.
Sumitomo Metal Mining Co. Ltd. published this content on 12 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 12 May 2016 06:17:07 UTC.
Original documenthttp://www.smm.co.jp/E/uploaded_files/20160512-2e.pdf
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