Sumitomo Electric Industries, Ltd. (SMTOY, SMO.MU, SMTOF, 5802.T), a key producer of electric wires and optical fiber cables, announced on Tuesday a significant rise in full-year 2026 net income over the prior year. It also declared a dividend payout.

In fiscal year 2026, profit attributable to owners of the parent climbed to 369.51 billion yen, up from 193.77 billion yen a year earlier.

Basic earnings per share rose to 473.78 yen, compared to 248.47 yen last year.

Operating profit surged to 418.17 billion yen from 320.66 billion yen in the previous fiscal year.

Net sales grew to 5.11 trillion yen, an increase from 4.68 trillion yen recorded previously.

Additionally, the firm plans a full-year 2027 dividend of 39 yen per share on a post-stock split basis, marking a 50% rise from 26 yen per share on a similar basis in 2026. Adjusting for the 4-for-1 stock split effective July 1, this equates to 156 yen annually versus 104 yen last year.

Forward-looking, Sumitomo anticipates first-half 2027 revenue of 2.54 trillion yen, a 7% year-over-year gain, with operating profit at 167 billion yen, reflecting 9.1% growth.

For the first half, profit attributable to owners of the parent is projected at 110 billion yen, up 12.3%, alongside basic earnings per share of 35.26 yen.

The company forecasts full-year 2027 net sales at 5.30 trillion yen, a 3.7% increase, and operating profit of 425 billion yen, up 1.6%.

Full-year 2027 profit attributable to owners of the parent is seen at 320 billion yen, down 13.4%, with basic earnings per share at 102.57 yen.

Shares of Sumitomo Electric Industries are currently trading 6.20% higher at 1,182.80 yen on the Tokyo Stock Exchange.