Sumitomo Electric H1 Profit Jumps, Raises FY27 Guidance, Shares Fall 5.4%

Sumitomo Electric Industries Ltd. (5802.T) raised its full-year 2027 guidance after reporting higher first-half profit, but shares fell 5.40% to JPY 1,769 on the Tokyo Stock Exchange. For the first half of 2026, profit attributable to owners of the parent rose to 159.38 billion yen from 97.94 billion yen a year earlier. Basic earnings per share were 51.09 yen versus 31.39 yen. Operating profit jumped to 219.57 billion yen from 153.02 billion yen, and net sales increased to 2.76 trillion yen from 2.37 trillion yen. The company now expects full-year 2027 net sales of 5.75 trillion yen, up 12.5% year-over-year and above its prior 5.40 trillion yen guidance. Operating profit is projected at 500 billion yen, up 19.4%, compared with the previous 450 billion yen forecast. Profit attributable to owners of the parent is expected at 370 billion yen, raised from 340 billion yen, with basic EPS projected at 118.60 yen versus the prior 108.99 yen.