TOKYO (dpa-AFX) - Sumitomo Electric Industries, Ltd. (5802.T), on Friday reported that its net income increased in the first half of 2026 compared with the same period a year ago. The company also raised its full-year 2027 guidance.
For the first half, profit attributable to the owners of the parent increased to 159.38 billion yen from 97.94 billion yen in the same period a year ago.
Basic earnings per share were 51.09 yen versus 31.39 yen last year.
Operating profit jumped to 219.57 billion yen from 153.02 billion yen in the prior year.
Net sales increased to 2.76 trillion yen from 2.37 trillion yen in the previous year.
Looking ahead, the company expects full-year 2027 net sales of 5.75 trillion yen, representing a 12.5% year-over-year increase, compared with its previous guidance of 5.40 trillion yen.
Operating profit is anticipated for the full year 2027 to be 500 billion yen, up 19.4% year-over-year, compared with the previous guidance of 450 billion yen.
For the full year 2027, profit attributable to owners of the parent is expected to be 370 billion yen, up from previous guidance of 340 billion yen.
Basic earnings per share for the full year of 2027 is projected to be 118.60 yen, up from the previous 108.99 yen.
Sumitomo Electric Industries is currently trading 5.40% lesser at JPY 1,769 on the Tokyo Stock Exchange.
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