OREANDA-NEWS. Sumitomo Corporation announced its consolidated results for the fiscal year ended March 31, 2013, prepared on the basis of International Financial Reporting Standards (IFRS).

“Profit for the year attributable to owners of the parent” for the fiscal year ended March 31, 2013 was 232.5 billion yen, decreased by 18.2 billion yen from the previous fiscal year.

Sumitomo Corporation made new investments of approximately 340.0 billion yen, while we collected cash through asset replacement. As a result “Free cash flow” was 94.1 billion yen inflow.

“Total assets” as of March 31, 2013 increased by 606.0 billion yen from March 31, 2012 to 7,832.8 billion yen, mainly due to yen depreciation and a rise in stock prices.

“Gross profit” was 827.0 billion yen, a decrease of 91.9 billion yen from the previous fiscal year. The decrease includes the impact of Sumitomo Mitsui Auto Service Company, Limited and other consolidated subsidiaries becoming associated companies.

“Share of profit of investments accounted for using the equity method” decreased by 3.3 billion yen to 107.4 billion yen. This decline was mainly due to lower earnings of mineral resources related group companies.

Although profit for the fourth quarter (January - March) decreased from the third quarter (October - December), basic profit for the fourth quarter increased by over 10 billion yen from the third quarter.