Copper and machinery up, nickel sold
Sumitomo Corporation (TSE: 8053) reported consolidated results for the first half of FY3/2027, April 1 to September 30, 2026, on November 2, 2026 under IFRS. Gross profit rose to about ¥768 billion from ¥707 billion, helped by an improved construction-machinery rental business and strong precious-metals trading, while personnel costs pushed up selling, general and administrative expenses. Securities results swung to a loss, as a loss on the sale of the Madagascar nickel business outweighed foreign-exchange gains realised in an intermediate holding-company reorganisation and a gain on the sale of a Belgian offshore wind business, and profit before tax fell 7.4% to ¥344,959 million. Income taxes, however, turned into a benefit of about ¥16 billion from an expense of about ¥41 billion, largely the tax effect of the nickel sale. By segment, Mineral Resources rose to about ¥54 billion from ¥32 billion on higher copper prices and wider aluminium margins, Automotive fell to about ¥24 billion from ¥53 billion against a prior-year gain on the sale of a U.S. tyre retailer, Transportation & Construction Systems rose to about ¥50 billion from ¥40 billion, and Real Estate fell to about ¥32 billion from ¥44 billion after a large handover in the prior year.
Guidance and dividend raised
Attributable profit rose 15.5% to ¥347,865 million, or ¥73.35 per share on a basis adjusted for the 4-for-1 stock split of July 1, 2026. Sumitomo Corporation raised its FY3/2027 forecast for profit attributable to owners of the parent to ¥670,000 million (+11.6%) and its annual dividend forecast to ¥44 per post-split share (¥22 interim, ¥22 year-end), equal to ¥176 before the split, against ¥150 paid for FY3/2026 (¥37.50 split-adjusted). Total assets fell to ¥13,333,116 million, and the ratio of equity attributable to owners rose to 35.5%.
| Metric | H1 FY3/2027 | H1 FY3/2026 | Change |
|---|---|---|---|
| Revenue (¥ million) | 3,918,561 | 3,537,187 | +10.8% |
| Pre-tax profit (¥ million) | 344,959 | 372,401 | -7.4% |
| Net profit attrib. to owners of parent (¥ million) | 347,865 | 301,235 | +15.5% |
| Comprehensive income (¥ million) | 298,437 | 371,734 | -19.7% |
| EPS (¥) | 73.35 | 62.28 | +17.8% |
| Total assets (¥ million) | 13,333,116 | 13,638,338 | -2.2% |
| Equity attrib. to owners of parent (¥ million) | 4,737,510 | 4,628,555 | +2.4% |
| Equity ratio | 35.5% | 33.9% | +1.6 pt |
| FY3/2027 guidance — net profit (¥ million) | 670,000 | — | +11.6% |
| Annual dividend per share (¥) | 44.00 | 37.50 | +17.3% |
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