Sumitomo Electric Industries: 27/3 Q1 results: Industrial materials & others segment performs better than we expected Quick Note

研报英文原文证据摘录

Sumitomo Electric Industries: 27/3 Q1 results: Industrial materials & others segment performs better than we expected Quick Note

Global Markets Research

31 July 2026Sumitomo Electric Industries

5802.T 5802 JP / EQUITY: JAPAN STEEL, NONFERROUS METALS, WIRE & CABLE

27/3 Q1 results: Industrial materials & others Rating Buysegment performs better than we expected

Target price JPY 3,775Quick Note

Closing price

30 July 2026 JPY 2,109.5First impression in line: Infocommunications segment falls short of expectations

Sumitomo Electric Industries announced 27/3 Q1 results at 15:00 JST on 31 July, posting (Note: Quick Note reports are not a

operating profits of ¥97.1bn, ahead of our forecast, and also the 30 July QUICK vehicle for changes to ratings, target

consensus forecast, of ¥85.0bn. Profits beat our forecasts by ¥8.0bn at the industrial prices, or earnings forecasts)

materials & others segment, ¥6.3bn at the environment & energy segment, and ¥3.7bn at

the electronics segment, but undershot them by ¥3.8bn at the infocommunications

segment and ¥3.5bn at the automotive segment. The infocommunications segment

outperformed the automotive segment to achieve the highest operating profits, and its Research Analysts

operating margin of 31.5% marked the first time it had exceeded 30% on a quarterly basis.

Japan steel, nonferrous metals,We think the better-than-expected performance at the industrial materials & others

wire & cablesegment may have included one-time factors such as an increase in orders linked to

Yuji Matsumoto - NSChigher raw material prices. yuji.matsumoto@nomura.com

The company raised its 27/3 operating profit guidance from ¥425.0bn to ¥450.0bn, versus +81 3 6703 1220

our forecast of ¥455.0bn and the consensus forecast of ¥451.1bn. It raised its full-year