Sumitomo Riko : Financial Results for 1st Quarter of FY2023
August 31, 2023 at 11:10 pm EDT
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Financial Results for 1st Quarter of FY2023
August 1, 2023
Sumitomo Riko Company Limited
1. Consolidated Statements 〔IFRS〕 (from April 1, 2023 to June 30, 2023)
1) Consolidated Profit/loss
(100 millions of yen)
Q1 FY2022
Q1 FY2023
Year on year growth
Net sales
1,173
1,456
+284
+24.2%
Business profit
△20
65
+85
-
Other income and expenses
△3
1
+3
-
Operating profit
△23
66
+88
-
Financial income and expenses
2
△8
-11
-
Profit before income taxes
△20
58
+78
-
Income tax expense
△5
△20
-15
-
Profit for the period
△25
38
+63
-
Profit attributable to owners
△27
33
+59
-
of the parent company
Non-controlling interests
2
5
+4
x 3.3
(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)
Q1 FY2022
Q1 FY2023
Year on year growth
Net sales
Automotive Products
1,031
1,313
+283
+27.4%
General Industrial Products
142
143
+1
+0.8%
Consolidated Total
1,173
1,456
+284
+24.2%
Business
Automotive Products
△25
58
+83
-
profit
General Industrial Products
6
7
+2
+31.7%
Consolidated Total
△20
65
+85
-
3) Results by Geographical Segment
(100 millions of yen)
Q1 FY2022
Q1 FY2023
Year on year growth
Net sales
Japan
450
559
+109
+24.2%
Americas
316
429
+113
+35.7%
Asia
405
462
+56
+13.9%
Europe and Others
144
172
+28
+19.1%
Eliminations or Corporate
△143
△164
-22
-
Consolidated Total
1,173
1,456
+284
+24.2%
Business
Japan
△7
15
+22
-
profit
Americas
△22
15
+37
-
Asia
16
39
+23
x 2.4
Europe and Others
△7
△5
+2
-
Eliminations or Corporate
0
1
+1
-
Consolidated Total
△20
65
+85
-
4) Exchange Rate (Average Rate)
Q1 FY2022
Q1 FY2023
Year on year growth
Yen/USD
129.58
137.37
+7.79
+6.0%
Yen/EUR
138.12
149.48
+11.36
+8.2%
Yen/RMB
19.58
19.56
-0.02
-0.1%
Yen/THB
3.77
3.99
+0.22
+5.8%
Yen/MXN
6.47
7.78
+1.31
+20.2%
Yen/BRL
26.43
27.77
+1.34
+5.1%
(Note) Monetary amounts and percentage figures are rounded off to the nearest specified unit.
2. Revision of the consolidated results forecast (from April 1, 2023 to March 31, 2024)
Revision of the consolidated financial forecast for the six months ending September 30, 2023 (from April 1, 2023 to September 30, 2023) and for the fiscal year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)
(100 millions of yen)
Revised
Revised
vs. Previous forecast
forecast for
forecast for
(Announced on May 2023)
FY2023 Q2
FY2023
YoY
(Six-month period)
Net sales
2,900
5,900
+300
+5.4%
Business profit
120
270
+70
+35.0%
Other income and expenses
△4
△15
-6
-
Operating profit
116
255
+64
+33.5%
Financial income and expenses
△17
△35
-1
-
Profit before income taxes
99
220
+63
+40.1%
Income tax expense
△37
△75
-8
-
Profit for the half-year/year
62
145
+55
+61.1%
Profit attributable to owners
49
118
+50
+73.5%
of the parent company
Non-controlling interests
13
27
+5
+22.7%
(Note) The abovementioned forecasts are based on the following exchange rates: ¥135.00 per U.S. dollar, ¥150.00 per Euro.
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Sumitomo Riko Company Limited published this content on 01 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 August 2023 03:09:03 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.
SUMITOMO RIKO COMPANY LIMITED 
