October 31, 2016 Sumitomo Seika Chemicals Company, Limited
Revision to Financial ForecastOn the basis of recent developments in its business performance, Sumitomo Seika Chemicals Company, Limited (the Company) has revised its consolidated financial forecast for the half-year ending September 30, 2016 and the full-year ending March 31, 2017, previously announced on May 11, 2016, as follows:
（Millions of yen）
Net Sales | Operating Income | Ordinary Income | Net Income attributable to owners of the parent | Net Income Per Share (Yen) | |
Previous Forecast (A) (Announced on May11, 2016) | 45,000 | 3,700 | 3,600 | 2,400 | 34.80 |
Revised Forecast (B) | 47,400 | 5,200 | 3,800 | 2,400 | 34.80 |
Variance in Amount (B-A) | +2,400 | +1,500 | +200 | - | |
Variance in Percentage (%) | +5.3 | +40.5 | +5.6 | - | |
Results for Half-Year Ended September 30, 2015 | 42,450 | 3,245 | 3,122 | 2,105 | 30.53 |
（Millions of yen）
Net Sales | Operating Income | Ordinary Income | Net Income attributable to owners of the parent | Net Income Per Share (Yen) | |
Previous Forecast (A) (Announced on May11, 2016) | 94,000 | 8,000 | 7,700 | 5,200 | 377.01 |
Revised Forecast (B) | 94,000 | 9,000 | 7,500 | 5,000 | 362.58 |
Variance in Amount (B-A) | - | +1,000 | (200) | (200) | |
Variance in Percentage (%) | - | +12.5 | (2.6) | (3.8) | |
Results for Full-Year Ended March 31, 2016 | 87,003 | 7,404 | 6,329 | 4,013 | 291.00 |
(*) The Company carried out the share consolidation at the ratio of five (5) pre-consolidation common shares for each one (1) post-consolidation common share, effective on October 1, 2016.
Reasons for the RevisionsAs far as the Half-Year is concerned, the Company expects that net sales and net income both will increase over the previous forecast, despite the adverse impact of the continued strong yen, mainly because sales in super absorbent polymers are anticipated to exceed the budget.
On the Full-Year basis, ordinary income and net income are expected to fall short of previously announced forecast after having reviewed the Company's financial performance based on a foreign exchange rate for the latter half-year changed from the initially assumed 110 yen per US dollar to 105 yen and the recent sales situation etc. considered.
Cautionary StatementThe forecasts referred to in the above were made based on information currently available. They may, therefore, be different from the actual results to be determined later, depending on various circumstances and reasons.