Sumitomo Financial Forecasts

Sumitomo Metal Industries Ltd has made the following notification regarding the financial forecasts for the 1st half of FY2010. Being that this is the English version, should there be any discrepancy between the English version and the original Japanese version, the Japanese version should be taken as the correct version. The results for the previous fiscal year (1st half of FY2009) (A) are: net sales – 598,739 million Yen; operating income loss – 28,061 million Yen; ordinary income loss – 47,614 million Yen; net income – 46,614 million Yen; net income per share – 10.07 Yen. The forecast (B) is – net sales – 720,000 million Yen; operating income loss – 30,000 million Yen; ordinary income loss – 25,000 million Yen; net income – 25,000 million Yen; net income per share – 5.39 Yen. The Difference is (B-A) net sales – 121,260 million Yen; operating income loss – 58,061 million Yen; ordinary income loss – 72,614 million Yen; net income – 71,676 million Yen; net income per share – 5.39 Yen. The Rate of Change for Net Sales is 20.3%. The Company forecasts a financial performance for the 1st half of FY2010 that will be more profitable compared with the corresponding period of the previous fiscal year, as demand for steel products during the period, mainly from the automotive sector and other manufacturers, is expected to be firm.

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