TYO:5802

Sumitomo Electric Industries' Fiscal 2026 Earnings Surge 91% on Higher Net Sales

Sumitomo Electric Industries' (TYO:5802) attributable profit surged 91% in fiscal 2026 following a jump in net sales and total extraordinary income.The electric wire and optical fiber cable manufacturer logged an attributable profit of 369.5 billion yen in fiscal 2026, up from 193.8 billion yen in the year-ago period, according to a Tuesday disclosure to the Tokyo Exchange.Sumitomo Electric Industries' bottom line surpassed an estimate from Smartkarma of 310.6 billion yen.Basic earnings per share rose to 473.78 yen from 248.47 yen a year earlier.Net sales jumped 9.2% to 5.110 trillion yen from 4.680 trillion yen in the previous fiscal year.The environment and energy segment's sales to customers increased to 1.143 trillion yen from 1.048 trillion yen. Sales from its infocommunications segment grew to 315 billion yen from 218.4 billion yen.The automotive segment revenue jumped to 2.935 trillion yen from 2.733 trillion yen, while its electronics sales increased to 350.6 billion yen from 327.1 billion yen, and its industrial materials segment increased to 366.5 billion yen from 353.6 billion yen.Operating profit surged 30% to 418.2 billion yen from 320.7 billion yen.Sumitomo Electric Industries declared a year-end dividend of 104 yen per share from retained earnings, effective June 29.The company paid a total of 154 yen per share in fiscal 2026, higher than the 97 yen paid a year earlier.Meanwhile, the company declared a 4-for-1 stock split for shareholders on record as of June 30. The stock split will take effect July 1.For fiscal 2027, Sumitomo Electric Industries plans to pay a dividend of 39 yen per share, based on the stock split. Sans the stock split, the annual dividend could reach 156 yen per share.For fiscal 2027, the company forecasts attributable profit to fall 13% to 320 billion yen, while basic earnings per share should rise to 102.57 yen, and net sales are expected to rise 3.7% to 5.300 trillion yen.