Financial Results for 2nd Quarter of FY2021 [240KB]

Financial Results for 2nd Quarter of FY2021	November 1, 2021
Sumitomo Riko Company Limited

1. Consolidated Statements 〔IFRS〕 (from April 1, 2021 to September 30, 2021)

1) Consolidated Profit/loss			(100 millions of yen)
	Q2 FY2020	Q2 FY2021	Year on year
	(Six-month period)	(Six-month period)	grow th
Net sales	1,672	2,084	+411	+24.6%
Business profit	△75	1	+76	-
Other income and expenses	△48	△2	+46	-
Operating profit	△123	△1	+122	-
Financial income and expenses	△5	△4	+1	-
Profit before income taxes	△128	△5	+124	-
Income tax expense	2	△21	-23	-
Profit for the period	△126	△26	+101	-
Profit attributable to ow ners of the parent company	△127	△35	+92	-
Non-controlling interests	0	9	+9	-

(Note) Business profit is presented by subtracting Cost of sales and Selling, general and administrative expenses from Net sales, and by adding Equity in earnings/losses of associates.

2) Results by Business Segment			(100 millions of yen)
		Q2 FY2020	Q2 FY2021	Year on year
		(Six-month period)	(Six-month period)	grow th
	Automotive Products	1,431	1,793	+362	+25.3%
Net sales	General Industrial Products	242	291	+49	+20.3%
	Consolidated Total	1,672	2,084	+411	+24.6%
Business	Automotive Products	△77	△21	+56	-
General Industrial Products	1	22	+21	-
profit
Consolidated Total	△75	1	+76	-
3) Results by Geographical Segment			(100 millions of yen)
		Q2 FY2020	Q2 FY2021	Year on year
		(Six-month period)	(Six-month period)	grow th
	Japan	744	924	+181	+24.3%
	Americas	328	456	+127	+38.7%
Net sales	Asia	605	755	+150	+24.8%
Europe and Others	183	233	+50	+27.4%
	Eliminations or Corporate	△188	△285	-97	-
	Consolidated Total	1,672	2,084	+411	+24.6%
	Japan	△60	△3	+56	-
	Americas	△38	△45	-6	-
Business	Asia	40	60	+20	+48.6%
profit	Europe and Others	△19	△10	+9	-
	Eliminations or Corporate	1	△1	-2	-
	Consolidated Total	△75	1	+76	-

(Note) Before elimination of intersegment transactions. Monetary amounts and percentage figures are rounded off to the nearest specified unit.

4) Exchange Rate (Average Rate)

	Q2 FY2020	Q2 FY2021	Year on year
	(Six-month period)	(Six-month period)	grow th
Yen/USD	106.92	109.81	+2.89	+2.7%
Yen/EUR	121.30	130.91	+9.61	+7.9%
Yen/RMB	15.26	16.99	+1.73	+11.3%
Yen/THB	3.38	3.42	+0.04	+1.2%
Yen/MXN	4.72	5.49	+0.77	+16.3%
Yen/BRL	19.91	20.90	+0.99	+5.0%

(Note) Monetary amounts and percentage figures are rounded off to the nearest specified unit.

2. Revision to figures in FY2021 consolidated results forecast (from April 1, 2021 to March 31, 2022)

					Profit	Profit
			Profit		attributable to
			Profit	attributable
	Business	Operating	before	ow ners of
Net sales	for	to ow ners of
profit	profit	income	the parent
	the year	the parent
			taxes	company per
				company
					share (basic)
100 millions	100 millions	100 millions	100 millions	100 millions	100 millions	Yen
of yen	of yen	of yen	of yen	of yen	of yen

Previous forecast FY2021

Q2 (Six-month period)

Full year (A)

Revised forecast FY2021 (B)

Changed amount (YoY) (B-A)

Prior period results (FY2020)

2,150	40	38	33	15	5	4.82
4,450	135	110	100	55	35	33.71
4,550	60	35	25	△21	△43	△41.42
+100	-75	-75	-75	-76	-78	-75.13
3,979	79	2	△6	△34	△50	△47.74

• Net sales in the first half were lower than previously forecasted due to the impact of auto manufacturers adjusting to the prolonged pandemic and a semiconductor shortage.
  Under these circumstances, the sales plan for the second half, which is based on data and forecasts for obtainable production at the present time, projects higher revenue compared to prior predictions due to recovering production and foreign exchange, despite production adjustments by auto manufacturers are expected to continue.
• Profits are forecast to fall below the previous prediction for the year due to production adjustments, as well as prices for steel and other raw materials that continue to soar in all regions, as higher selling prices to pass on the elevated costs will come at a later time.