SUMITOMO METAL MINING CO., LTD. November 10, 2015
Listed Company Name: Sumitomo Metal Mining Co., Ltd. Listings: Tokyo Stock Exchange
Code: 5713
Representative: Yoshiaki Nakazato, President and
Representative Director
Contact: Tsuyoshi Nozawa, Deputy General Manager, PR & IR Dept.
Tel: +81-3-3436-7705
The following revisions have been made to the results forecast and the dividend forecast announced on May 12, 2015 for the fiscal year ended March 2016 (April 1, 2015 - March 31, 2016), in consideration of the recent trends in the Company's business performance and other factors.
-
Revision of Results Forecast
Consolidated results forecast for the Year Ending March 31, 2016 (April 1, 2015 - March 31, 2016)
(Yen in Millions, %)
Net Sales
Operating Income
Ordinary Income
Profit attributable to owners of
parent
Profit per share
Previous forecast (A)
950,000
118,000
148,000
104,000
188.52
Revised forecast (B)
865,000
74,000
85,000
68,000
123.26
Net increase/decrease ((B)-(A))
-85,000
-44,000
-63,000
-36,000
Net increase
/decrease percentage
‐8.9
-37.3
-42.6
-34.6
(Reference)Actual result for the fiscal year ended March 2015
921,334
125,779
174,226
91,113
165.11
Reasons for forecast revisions
Metal prices have fallen significantly since the time of the previously announced results forecast (May 12, 2015) as a result of factors including weak demand in China, a major consumer of nonferrous metals, and this adverse situation is seen continuing for the time being. As a result, the full-year forecast has been revised, as shown above, taking into account the major effect of a drop in metal prices on the Company's results, as well as the effect of the delay in the commencement of commercial production at
the Sierra Gorda Copper Mine.
- Revision of Dividend Forecast
Details of revisions to dividend forecast
Dividend per share (Yen)
Second quarter-end
Year-end
Total
Previous forecast (May 12, 2015)
21.00
27.00
48.00
Revised forecast
10.00
31.00
Current year result
21.00
(Reference) FY2014 (actual)
24.00
24.00
48.00
Reasons behind revisions
In light of the downward revision to the Company's consolidated results forecast and based on the Company's policy for the distribution of profit, the annual dividend forecast is being reduced by ¥17.00 per share, to ¥31.00 per share. As a result, the dividend forecast is being revised to a second
quarter-end dividend of ¥21.00 per share and a year-end dividend of ¥10.00 per share, for an annual dividend of ¥31.00 per share.
(Cautionary Statement)
The results and dividend forecast referred to above is based on assumptions with information available at this time and therefore involve known and unknown risks and uncertainties. Please note such risks and uncertainties may cause the actual results to be materially different from the results forecasts.
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