Financial Results for 2nd Quarter of FY2021 [240KB]
November 01, 2021 at 08:37 am IST
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Financial Results for 2nd Quarter of FY2021
November 1, 2021
Sumitomo Riko Company Limited
1. Consolidated Statements 〔IFRS〕 (from April 1, 2021 to September 30, 2021)
1) Consolidated Profit/loss
(100 millions of yen)
Q2 FY2020
Q2 FY2021
Year on year
(Six-month period)
(Six-month period)
grow th
Net sales
1,672
2,084
+411
+24.6%
Business profit
△75
1
+76
-
Other income and expenses
△48
△2
+46
-
Operating profit
△123
△1
+122
-
Financial income and expenses
△5
△4
+1
-
Profit before income taxes
△128
△5
+124
-
Income tax expense
2
△21
-23
-
Profit for the period
△126
△26
+101
-
Profit attributable to ow ners of the parent company
△127
△35
+92
-
Non-controlling interests
0
9
+9
-
(Note) Business profit is presented by subtracting Cost of sales and Selling, general and administrative expenses from Net sales, and by adding Equity in earnings/losses of associates.
2) Results by Business Segment
(100 millions of yen)
Q2 FY2020
Q2 FY2021
Year on year
(Six-month period)
(Six-month period)
grow th
Automotive Products
1,431
1,793
+362
+25.3%
Net sales
General Industrial Products
242
291
+49
+20.3%
Consolidated Total
1,672
2,084
+411
+24.6%
Business
Automotive Products
△77
△21
+56
-
General Industrial Products
1
22
+21
-
profit
Consolidated Total
△75
1
+76
-
3) Results by Geographical Segment
(100 millions of yen)
Q2 FY2020
Q2 FY2021
Year on year
(Six-month period)
(Six-month period)
grow th
Japan
744
924
+181
+24.3%
Americas
328
456
+127
+38.7%
Net sales
Asia
605
755
+150
+24.8%
Europe and Others
183
233
+50
+27.4%
Eliminations or Corporate
△188
△285
-97
-
Consolidated Total
1,672
2,084
+411
+24.6%
Japan
△60
△3
+56
-
Americas
△38
△45
-6
-
Business
Asia
40
60
+20
+48.6%
profit
Europe and Others
△19
△10
+9
-
Eliminations or Corporate
1
△1
-2
-
Consolidated Total
△75
1
+76
-
(Note) Before elimination of intersegment transactions. Monetary amounts and percentage figures are rounded off to the nearest specified unit.
4) Exchange Rate (Average Rate)
Q2 FY2020
Q2 FY2021
Year on year
(Six-month period)
(Six-month period)
grow th
Yen/USD
106.92
109.81
+2.89
+2.7%
Yen/EUR
121.30
130.91
+9.61
+7.9%
Yen/RMB
15.26
16.99
+1.73
+11.3%
Yen/THB
3.38
3.42
+0.04
+1.2%
Yen/MXN
4.72
5.49
+0.77
+16.3%
Yen/BRL
19.91
20.90
+0.99
+5.0%
(Note) Monetary amounts and percentage figures are rounded off to the nearest specified unit.
2. Revision to figures in FY2021 consolidated results forecast (from April 1, 2021 to March 31, 2022)
Profit
Profit
Profit
attributable to
Profit
attributable
Business
Operating
before
ow ners of
Net sales
for
to ow ners of
profit
profit
income
the parent
the year
the parent
taxes
company per
company
share (basic)
100 millions
100 millions
100 millions
100 millions
100 millions
100 millions
Yen
of yen
of yen
of yen
of yen
of yen
of yen
Previous forecast FY2021
Q2 (Six-month period)
Full year (A)
Revised forecast FY2021 (B)
Changed amount (YoY) (B-A)
Prior period results (FY2020)
2,150
40
38
33
15
5
4.82
4,450
135
110
100
55
35
33.71
4,550
60
35
25
△21
△43
△41.42
+100
-75
-75
-75
-76
-78
-75.13
3,979
79
2
△6
△34
△50
△47.74
Net sales in the first half were lower than previously forecasted due to the impact of auto manufacturers adjusting to the prolonged pandemic and a semiconductor shortage.
Under these circumstances, the sales plan for the second half, which is based on data and forecasts for obtainable production at the present time, projects higher revenue compared to prior predictions due to recovering production and foreign exchange, despite production adjustments by auto manufacturers are expected to continue.
Profits are forecast to fall below the previous prediction for the year due to production adjustments, as well as prices for steel and other raw materials that continue to soar in all regions, as higher selling prices to pass on the elevated costs will come at a later time.
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Sumitomo Riko Company Limited published this content on 01 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2021 03:06:05 UTC.
Sumitomo Riko Company Limited, formerly Tokai Rubber Industries, Ltd., is a manufacturer of rubber and resin products for automobile use. The Company operates in two business segments. The Automobile Supplies segment manufactures anti-vibration rubbers, hoses and interior parts for automotive use. The General Industrial Supplies segment produces precision resin blade roll, anti-vibration rubber for vehicles, housing, bridges, and electronic equipment, high-pressure hoses, transport hoses, among others.