Sumitomo Riko : Financial Results for 2nd Quarter of FY2023
October 30, 2023 at 11:11 pm EDT
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Financial Results for 2nd Quarter of FY2023
October31, 2023
Sumitomo Riko Company Limited
1. Consolidated Statements 〔IFRS〕 (from April 1, 2023 to September 30, 2023)
1) Consolidated Profit/loss
(100 millions of yen)
Q2 FY2022
Q2 FY2023
Year on year
(Six-month period)
(Six-month period)
growth
Net sales
2,556
2,979
+423
+16.5%
Business profit
△9
128
+137
-
Other income and expenses
△7
△6
+1
-
Operating profit
△16
122
+138
-
Financial income and expenses
0
△16
-16
-
Profit before income taxes
△16
106
+122
-
Income tax expense
△26
△34
-7
-
Profit for the period
△42
72
+115
-
Profit attributable to owners
△48
58
+106
-
of the parent company
Non-controlling interests
6
14
+8
x 2.4
(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 FY2022
Q2 FY2023
Year on year
(Six-month period)
(Six-month period)
growth
Net sales
Automotive Products
2,265
2,702
+437
+19.3%
General Industrial Products
291
277
-15
-5.0%
Consolidated Total
2,556
2,979
+423
+16.5%
Business
Automotive Products
△20
118
+138
-
profit
General Industrial Products
11
10
-1
-8.1%
Consolidated Total
△9
128
+137
-
3) Results by Geographical Segment
(100 millions of yen)
Q2 FY2022
Q2 FY2023
Year on year
(Six-month period)
(Six-month period)
growth
Net sales
Japan
956
1,152
+196
+20.5%
Americas
691
867
+175
+25.4%
Asia
933
970
+37
+4.0%
Europe and Others
285
329
+44
+15.3%
Eliminations or Corporate
△309
△339
-30
-
Consolidated Total
2,556
2,979
+423
+16.5%
Business
Japan
△14
44
+58
-
profit
Americas
△35
21
+56
-
Asia
61
75
+14
+22.2%
Europe and Others
△20
△14
+6
-
Eliminations or Corporate
△1
2
+3
-
Consolidated Total
△9
128
+137
-
(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 FY2022
Q2 FY2023
Year on year
(Six-month period)
(Six-month period)
growth
Yen/USD
133.98
141.00
+7.02
+5.2%
Yen/EUR
138.74
153.39
+14.65
+10.6%
Yen/RMB
19.89
19.75
-0.14
-0.7%
Yen/THB
3.79
4.05
+0.26
+6.9%
Yen/MXN
6.66
8.13
+1.47
+22.1%
Yen/BRL
26.41
28.69
+2.28
+8.6%
(Note) Monetary amounts and percentage figures are rounded off to the nearest specified unit.
2. Revision to figures in FY2023 consolidated results forecast
(from April 1, 2023 to March 31, 2024)
(100 millions of yen)
1Q Forecast for
2Q Forecast for
Change
FY2023 (A)
FY2023 (B)
(B - A)
(August 2023)
(October 2023)
Net sales
5,900
6,000
+100
+1.7%
Business profit
270
280
+10
+3.7%
Other income and expenses
△15
△15
-
-
Operating profit
255
265
+10
+3.9%
Financial income and expenses
△35
△35
-
-
Profit before income taxes
220
230
+10
+4.5%
Income tax expense
△75
△83
-8
-
Profit for the year
145
147
+2
+1.4%
Profit attributable to owners
118
119
+1
+0.8%
of the parent company
Non-controlling interests
27
28
+1
+3.7%
(Note) The assumed exchange rates for the third quarter onward has been revised from 135 to 140 per U.S. dollar
and from 150 to 155 per Euro.
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Sumitomo Riko Company Limited published this content on 31 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 October 2023 03:10:49 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 
