November 10, 2023

To whom it may concern,

Company name:

Sumitomo Rubber Industries, Ltd.

Representative:

Satoru Yamamoto,

President and CEO,

Representative Director

Code number:

5110 (TSE Prime Market)

Contact:

Shinji Araki,

General Manager,

Accounting & Finance Headquarters

Phone:

+81-78-265-3000

Notice Regarding Revisions to Forecasts for Financial Results and Dividends

Sumitomo Rubber Industries, Ltd. (the "Company") announces that it has revised its forecasts for the full-year financial results and the dividends for the fiscal year ending December 31, 2023, which were previously released on August 7, 2023, as follows.

1. Revisions to the full-year consolidated financial results forecasts

  1. Revisions to the full-year consolidated financial results forecasts for the fiscal year ending December 31, 2023 (from January 1, 2023 to December 31, 2023)

Profit attributable

Basic profit per

Sales revenue

Business profit

Operating profit

to owners of

share

parent

Previous forecast (A)

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Yen

(announced on August

1,170,000

50,000

41,000

23,000

87.45

7, 2023)

Revised forecast (B)

1,180,000

63,000

46,000

29,000

110.26

Change (B−A)

10,000

13,000

5,000

6,000

-

Percentage change

0.9

26.0

12.2

26.1

-

(Reference)

Results for the previous

1,098,664

21,963

14,988

9,415

35.80

fiscal year ended

December 31, 2022

  1. Reasons for revision

As for the consolidated financial results for the fiscal year ending December 31, 2023, sales revenue is expected to exceed the previously announced forecast due to an easing of the downward trend in automotive production volume due to the shortage of semiconductors, and the effect of foreign currency translation. In addition, the business profit, operating profit and profit attributable to owners of parent are supposed to exceed the previously announced forecast due to alleviation of the rising prices of raw materials, improvement of the sales mix by focusing on advanced tires and other factors.

2. Revision to the dividend forecasts

  1. Revisions to the dividend forecasts for the fiscal year ending December 31, 2023

Annual dividends

1st

2nd

3rd

Year-end

Total

quarter-end

quarter-end

quarter-end

Previous forecast

Yen

Yen

Yen

Yen

Yen

(announced on August 7,

-

-

-

35.00

40.00

2023)

Revised forecast

-

-

-

40.00

45.00

Results for the fiscal year

-

5.00

-

-

-

ending December 31, 2023

(Reference)

Results for the previous

-

20.00

-

15.00

35.00

fiscal year ended

December 31, 2022

  1. Reasons for revision

The Company considers the return of gains to shareholders to be a matter deserving of the utmost priority. Accordingly, our basic policy is to ensure a long-term, stable shareholder returns based on comprehensive consideration of dividend payout ratios, business outlook, retained earnings levels and other such indicators on a consolidated basis. As stated in "1. Revisions to the full-year consolidated financial results forecasts", we currently plan to pay a year-end dividend of ¥40 per share, totaling an annual dividend of ¥45 per share, since the consolidated financial results forecasts for the fiscal year ending December 31, 2023 are expected to exceed the previously announced forecasts.

(Note) The forecasts and other forward-looking statements herein are based on certain assumptions made in light of the information currently available to the Company and its group companies (collectively, the "Group") at present, and do not constitute any promises by the Company that they will be realized. Actual results may differ significantly from these forecasts due to changes in various factors surrounding the businesses of the Company and the Group.

2

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Disclaimer

SRI - Sumitomo Rubber Industries Ltd. published this content on 10 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 November 2023 15:05:13 UTC.