Sumitomo Electric Industries : Supplementary Sheet (May 10, 2024)

Supplementary Sheet

for the fiscal year ended March 31, 2024

May 10, 2024

1-1. FY2023 Results (PL)

bn

Net Sales

Operating Profit

Share of profit of investments accounted for using equity method

Interest expenses

Other Non-Operating Income/Expenses

Ordinary Income

Extraodinary Income or Loss

Profit before Income Taxes

Taxes and Profit Attributable to Non-Controlling Interests

Profit Attributable to Owners of the Parent

FY2022

Actual①

4,005.6

177.4

11.5

(16.1)

0.5

173.3

23.1

196.5

(83.8)

112.7

FY2023

Revised

Plan②

4,350.0

215.0

198.0

120.0

FY2023	Growth	Difference
Actual③	③ー①	③ー②
4,402.8	+397.3	+52.8
226.6	+49.2	+11.6

20.2 +8.7

(29.3) (13.2)

(2.1) (2.7)

215.3 +42.0 +17.3

23.2 +0.1

238.5 +42.1

(88.8) (5.0)

149.7 +37.1 +29.7

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1-2. OP variation factors from FY2022 to FY2023

(%):OP Rate

										Actual
										¥226.6
										bn
										(5.1%)
		Unit price/
			Forex
		Product mix	Logistics	impact				transitory
	(34.0)		+10.0				factors
				costs
				+25.0		Depreciation/
						R&D and others
				Cost structure	(25.0)		Excluding
				Improvement				transitory
					+33.0					factors

Sales volume

Increase

¥177.4 +26.0 bn

(4.4%)

Prices of copper

and materials

+3.0

Copper price
2022	2023
1209k/t	1262k/t

¥215.0 bn

Average Rate
	2022	2023
USD	135.50	144.59
EUR	140.99	156.75

FY2022

FY2023

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1-3. Sales and OP by Segment

￥bn

Environment

and Energy

Infocommunications

Automotive

Electronics

Industrial Materials and Others

Total

FY2022	FY2023	FY2023	Growth	Difference
Actual①	Revised Plan②	Actual③	③－①	③－②
Sales	OP	Sales	OP	Sales	OP	Sales	OP	Sales	OP
928.2	37.9	980.0	42.0	980.0	42.9	+51.7	+5.0	0.0	+0.9
250.3	21.9	210.0	(4.0)	206.1	(11.6)	(44.3)	(33.5)	(3.9)	(7.6)
2,186.8	55.7	2,560.0	132.0	2,596.4	144.7	+409.6	+88.9	+36.4	+12.7
366.0	38.3	350.0	24.0	356.5	29.3	(9.5)	(9.1)	+6.5	+5.3
363.3	24.0	350.0	21.0	364.2	21.1	+0.9	(2.9)	+14.2	+0.1
4,005.6	177.4	4,350.0	215.0	4,402.8	226.6	+397.3	+49.2	+52.8	+11.6

※Differences between the aggregate of all segments and Total are consolidated eliminations.

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Left：Sales Right：OP（¥bn）

1-4. OP variation factors and performance trends by segment

Environment and Energy

【OP】FY2023 : 42.9 billion yen (+5.0 billion yen from FY2022)

（＋）Increase in number of power cable

（＋）Increase in order volume of rectangular magnet wires for xEV

（＋）Copper price impact：Sales ¥2.0 bn

（＋）	OP ¥0.2 bn

Infocommunications

【OP】FY2023 : (11.6) billion yen ((33.5) billion yen from FY2022)

（－） Decrease in optical fiber・cable and optical & electronic devices due to restrained investment and inventory adjustment by telecom carriers and data centers

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Left：Sales Right：OP（¥bn）

1-4. OP variation factors and performance trends by segment

Automotive

【OP】FY2023 : 144.7 billion yen (+88.9 billion yen fromFY2022)

（＋）Increase in sales volume of Wiring Harnesses and Sumitomo Riko

（＋）Cost reduction through productivity improvement

（＋）Decline in sea freight to North America

Harness order volume

４Q▲4%

Plan

Actual

YoY＋１３%

1Q

2Q

3Q

4Q

FY2021

1Q

2Q

3Q

4Q

FY2022

1Q

2Q

3Q

4Q

FY2023

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Left：Sales Right：OP（¥bn）

1-4. OP variation factors and performance trends by segment

Electronics

【OP】FY2023 : 29.3 billion yen

((9.1) billion yen from FY2022)

（－）Decrease in volume of FPCs and electronic wires

（－）Rising labor costs

Industrial Materials and Others 【OP】FY2023 : 21.1 billion yen ((2.9) billion yen from FY2022)

（－）Decrease in volume of carbide tools in China and Japan

（－）Rising labor costs

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1-5. BS as of FY2023 end

	FY2022	FY2023
￥bn	Atual①	Actual②
Cash and Time Deposits	283.4	269.7
Trade Receivables	875.6	912.4
Inventories	851.2	885.0
Property, Plant	1,062.8	1,098.2
and Equipment
Investment Securities	503.8	607.1
Net Defined Benefit	176.0	303.7
Assets
Other	260.2	289.2

Total Assets

4,013.0 4,365.4

Difference

②ー①

(13.7)

+36.8 (FX impact)

1. (+55.4)

1. (+61.2)

103.3

127.7

29.0

352.4

￥bn

Trade Payables

Interest Bearing Debt

Other

Total Liabilities

Total Shareholders' Equity

Total Accumulated Other

Comprehensive Income

Non-Controlling Interests

Total Net Assets

Total Liabilities

and Net Assets

OP ROIC

Pre-tax ROIC

ROE

FY2022	FY2023	Difference
Actual①	Actual②	②ー①
446.0	479.8	+33.9 (FX impact)

960.4 801.5 (158.9) (+40.2)

495.9 652.2 +156.3

1,902.2 1,933.5 +31.3

1,628.8 1,738.1 +109.3

271.1 469.6 +198.5

210.9 224.2 +13.3

2,110.8 2,431.9 +321.1

4,013.0 4,365.4 +352.4

5.9% 7.2%

6.6% 7.6%

6.1% 7.3%

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1-6. Statement of Cash Flows

		FY2022	FY2023	Difference
	￥bn	Actual①	Actual②	②－①
	Profit before Income Taxes	196.5	238.5	+42.1
	Depreciation and Amortization	196.0	206.3	+10.3
	Changes in Working Capital	△22.0	47.6	+69.6
	Other	△105.3	△99.0	+6.3
Cash Flows from Operating Activities	265.2	393.5	+128.3
Cash Flows from Investing Activities	△147.8	△123.8	+24.0
Free Cash Flow	117.4	269.7	+152.3
Cash Flows from Financing Activities	△98.3	△292.3	(194.0)
Other	4.8	11.5	+6.7
Increase(Decrease) in Cash and Cash Equivalents	23.9	△11.2	(35.1)
Cash and Cash Equivalents at the End of Year	279.4	268.3	(11.2)

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2-1. FY2024 Forecasts (PL)

Announced in

May 2023

Net Sales

Operating Profit

Ordinary Income

Profit Attributable to Owners of the Parent

Dividend(/share)

FY2023

bn Actual

4,402.8

226.6

215.3

149.7

77

USD 145

EUR 157

Cupper 1262k/t

FY2024		FY2025
1H	Annual	Growth	25M
Plan	Plan		Plan
2,180.0	4,500.0	+97.2	4,400.0
94.0	240.0	+13.4	250.0
92.0	232.0	+16.7
50.0	140.0	(9.7)

36 72

145	130
155	140
1250k/t	1200k/t

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