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August 3, 2015

JAPAN: Sumitomo Q1 operating income rises by half

Sumitomo's net sales for the first quarter ended 30 June 2015 were down 3.2% to JPY2 trillion (US$16.1bn) compared with JPY2.07 trillion in the same period year ago.

Sumitomo’s net sales for the first quarter ended 30 June 2015 were down 3.2% to JPY2 trillion (US$16.1bn) compared with JPY2.07 trillion in the same period year ago.

Operating income was up 50.7% to JPY69.2bn compared with JPY45.9bn. Profit before tax was up 57.3% to JPY109.2bn compared with JPY69.4bn. Profit for the period was up 59.6% to JPY85.2bn compared with JPY53.4bn in the year ago period.

Forecast for fiscal year ending 31 March 2016

Net sales: JPY8.60 trillion

Profit before taxes: JPY290bn

Profit attributable to the owners: JPY230bn

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