OREANDA-NEWS. August 2, 2012. On August 1, 2012, Sumitomo Corporation announced its consolidated results for the three-month period ended June 30, 2012, prepared on the basis of International Financial Reporting Standards (IFRS).

“Profit for the period attributable to owners of the parent” for the three-month period ended June 30, 2012 was 48.7 billion yen, decreased by 34.8 billion yen from the same period of the previous year. Basic profit*, which indicates after-tax actual earnings power, was 53.0 billion yen, decreased by 15.0 billion yen from the same period of the previous year.

The reason of the decrease can be summarized as follows:

Basic profit decreased due to fall in commodity prices.

Temporary factors decreased by approximately 20 billion yen.

However, when comparing basic profit of this quarter with that of last quarter (FY2011.4Q), it remained at the same level. Although there is impact of commodity prices decline from the second half of fiscal 2011, our non-mineral resources businesses are showing stable performances.