TOKYO (dpa-AFX) - Sumitomo Electric Industries, Ltd. (5802.T), the Japanese manufacturer of electric equipment, Friday reported higher earnings on higher revenue for the first quarter compared to the same period last year.
Further, the company provided its outlook for the first half and fiscal 2026-2027.
Quarterly earnings jumped 89.1 percent to ¥66.41 billion or ¥21.29 per share from ¥35.12 billion or ¥11.26 per share of last year.
Operating profit surged 61 percent to ¥97.06 billion from ¥60.30 billion of previous year.
Revenue increased 15.9 percent to ¥1.33 trillion from ¥1.15 trillion of prior year.
Looking forward to the first half of the year, the company expects earnings of ¥140 billion or ¥44.88 per share, an increase of 42.9 percent year over year, and revenue of ¥2.64 trillion, an increase of 11.2 percent year on year.
For the full year, the company expects earnings of ¥340 billion or ¥108.99 per share, a decrease of 8 percent year over year, and revenue of ¥5.4 trillion, an increase of 5.7 percent year on year.
Currently, shares are trading at ¥2184, 3.52% on the Tokyo Stock Exchange.
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