Sumitomo Rubber Industries : Consolidated Financial Results for the Fiscal Year Ended December 31, 2022

	Consolidated Financial Results
	for the Fiscal Year Ended December 31, 2022
	[IFRS]
		February 14, 2023
Company name	: Sumitomo Rubber Industries, Ltd.
Stock exchange listing	: Tokyo Stock Exchange
Code number	: 5110
URL	: https://www.srigroup.co.jp/
Representative	: Satoru Yamamoto, President and CEO, Representative Director
Contact	: Shinji Araki, General Manager, Accounting & Finance Headquarters
Phone	: [phone]
Scheduled date of ordinary shareholders' meeting	: March 28, 2023
Scheduled date of commencing dividend payments	: March 29, 2023
Scheduled date of filing annual securities report	: March 29, 2023
Supplementary documents for financial results	: Yes
Financial results briefing session	: Yes (for institutional investors and analysts)

(Amounts of less than one million yen are rounded to the nearest unit.)

1. Consolidated Financial Results for Fiscal Year Ended December 31, 2022 (January 1, 2022 to December

31, 2022)
(1) Consolidated Operating Results		(% indicates changes from the previous corresponding period.)
							Profit
	Sales revenue	Business profit	Operating profit	attributable	Comprehensive
	to owners of	income
							parent
Fiscal year ended	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen		%	Millions of yen		%
December 31, 2022	1,098,664	17.4	21,963	(57.7)	14,988	(69.5)	9,415		(68.1)	54,954		(12.8)
December 31, 2021	936,039	18.4	51,975	19.8	49,169	27.0	29,470		30.4	62,986		-

(Note) "Business profit" is "Sales revenue" subtracted by "Cost of sales" and "Selling, general and administrative expenses."

Profit to equity

Business profit

Business profit

Basic profit per

Diluted profit

attributable to

to total assets

to sales revenue

share

per share

owners of parent

ratio

ratio

ratio

Fiscal year ended

Yen

Yen

%

%

%

December 31, 2022

35.80

-

1.8

1.9

2.0

December 31, 2021

112.05

-

6.2

5.0

5.6

(2) Consolidated Financial Position

Total equity

Ratio of equity

Equity

attributable to

Total assets

Total equity

attributable to

attributable to

owners of parent

owners of parent

owners of parent

per share

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

%

Yen

December 31, 2022

1,225,202

563,863

546,200

44.6

2,076.74

December 31, 2021

1,086,169

513,543

501,540

46.2

1,907.03

(3) Consolidated Cash Flows

			Cash flows from		Cash flows from		Cash flows from		Cash and cash
						equivalents at the end
			operating activities		investing activities		financing activities
						of the fiscal year
	Fiscal year ended		Millions of yen		Millions of yen		Millions of yen		Millions of yen
	December 31, 2022		27,869		(78,697)		41,556		73,846
	December 31, 2021		63,090		(54,023)		(13,332)		75,093

2. Dividends

		Annual dividends				Dividends on
						Total	Payout	equity
	1st	2nd	3rd			ratio	attributable to
	Year-		dividends
	quarter-	quarter-	quarter-	Total	(Consoli-	owners of
	end	(Annual)
	end	end	end		dated)	parent
								(Consolidated)
Fiscal year ended	Yen	Yen	Yen	Yen	Yen	Millions of yen	%	%
December 31, 2021	-	25.00	-	30.00	55.00	14,465	49.1	3.0
December 31, 2022	-	20.00	-	15.00	35.00	9,205	97.8	1.8
Fiscal year ending
December 31, 2023	-	-	-	35.00	35.00		51.1
(Forecast)

3. Consolidated Financial Results Forecast for the Fiscal Year Ending December 31, 2023 (January 1, 2023 to December 31, 2023)

(% indicates changes from the previous corresponding period.)

	Sales revenue	Business profit	Operating profit	Profit attributable to	Basic profit
	owners of parent	per share
	Millions of yen	%	Millions of yen	%	Millions of yen	%	Millions of yen	%	Yen
First half	570,000	11.3	7,000	(50.7)	5,000	(60.2)	1,000	(94.2)	3.80
Full year	1,200,000	9.2	35,000	59.4	30,000	100.2	18,000	91.2	68.44

Notes:
(1)	Changes in Significant Subsidiaries during the Fiscal Year Ended December 31, 2022
	(Changes in specified subsidiaries resulting in changes in scope of consolidation)	: None
(2)	Changes in accounting policies and changes in accounting estimates
	1)	Changes in accounting policies required by IFRS	: None
	2)	Changes in accounting policies other than 1)	: None
	3)	Changes in accounting estimates	: None

(3) Total number of issued shares (common stock)

1) Total number of issued shares at the end of the period (including treasury stock)

December 31, 2022

:

263,043,057 shares

December 31, 2021

:

263,043,057 shares

2) Total number of treasury stock at the end of the period

December 31, 2022

:

34,841 shares

December 31, 2021

:

47,604 shares

3) Average number of shares during the period

Fiscal year ended December 31, 2022

:

263,004,675 shares

Fiscal year ended December 31, 2021

:

262,998,143 shares

(Reference) Summary of Non-Consolidated Financial Results

Non-Consolidated Financial Results (From January 1, 2022 to December 31, 2022)

(1) Non-Consolidated Operating Results

Sales revenue

Operating profit

Ordinary profit

Profit

Fiscal year ended

Millions of yen

%

Millions of yen

%

Millions of yen

%

Millions of yen

%

December 31, 2022

566,086

7.6

(36,197)

-

21,120

(39.4)

19,878

(36.2)

December 31, 2021

526,047

17.9

(5,697)

-

34,870

6.1

31,174

19.2

Basic profit

Diluted profit

per share

per share

Fiscal year ended

Yen

Yen

December 31, 2022

75.58

-

December 31, 2021

118.53

-

(2) Non- Consolidated Financial Position

Total assets

Net assets

Shareholder's equity

Net assets per share

ratio

Fiscal year ended

Millions of yen

Millions of yen

%

Yen

December 31, 2022

894,820

380,733

42.5

1,447.61

December 31, 2021

827,581

375,118

45.3

1,426.33

(Reference) Shareholder's equity

As of December 31, 2022: ¥380,733 million As of December 31, 2021: ¥375,118 million

• These financial results are outside the scope of auditing.
• Explanation of the proper use of financial results forecast and other notes

The earnings projections and other forward-looking statements herein are based on certain assumptions made in light of the information currently available to Sumitomo Rubber Industries, Ltd. (the "Company") and its group companies (collectively, the "Group") and do not constitute any promises by the Company that they will be realized. Please note that actual results could differ significantly from these forecasts due to changes in various factors surrounding the businesses of the Company and the Group.

With regard to the matters related to the underlying assumptions for the above forecasts, please refer to page 6 of the attached documents of the Consolidated Financial Results for the Period under Review, "1. Overview of Operating Results, (2) Business Forecast for Fiscal 2023."

Table of Contents
1. Overview of Operating Results	2
(1)	Overview of Operating Results and Financial Position	2
(2)	Business Forecast for Fiscal 2023	6
(3)	Basic Policy on Profit Distribution and Dividends for Fiscal 2022 and 2023	6
2. Basic Approach to the Selection of Accounting Standards	6
3. Consolidated Financial Statements and Primary Notes	7
(1)	Consolidated Statements of Financial Position	7
(2) Consolidated Statements of Income and Comprehensive Income	9
	Consolidated Statements of Income	9
	Consolidated Statements of Comprehensive Income	10
(3)	Consolidated Statements of Changes in Equity	11
(4)	Consolidated Statements of Cash Flows	13
(5)	Notes on Consolidated Financial Statements	15
	(Notes on Going Concern Assumption)	15
	(Significant Accounting Policies)	15
	(Segment Information)	16
	(Per Share Amounts )	19
	(Significant Subsequent Events)	19

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