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News Sumitomo Osaka

Displaying items by tag: Sumitomo Osaka

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Sumitomo Osaka Cement slips to a loss in first financial half

09 November 2022

Japan: Sumitomo Osaka Cement’s operating revenue grew by 7.5% year-on-year to US$657m for the half of its 2023 fiscal year, covering the six-month period to 30 September 2022, compared to US$612m in the same period in its 2022 fiscal year. However, rising costs led to the company reporting an operating loss of US$41.9m compared to an operating profit of US$35.6m previously. Its pretax loss was US$37.7m compared to a pretax profit of US$47.9m. Sumitomo Osaka Cement recorded an overall net loss of US$20m, compared to a net profit of US$41.5m in the first half of the 2022 financial year.

The company expects to record net revenues of US$1.42bn across the entire 2023 fiscal year, with a net loss of US$4.1m. This indicates that it has forecast performance to improve significantly over the next six months.

Published in Global Cement News
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Sumitomo Osaka Cement increases sales in loss-making first quarter of 2023 financial year

09 August 2022

Japan: Sumitomo Osaka Cement recorded sales of US$337m in the first quarter of the 2023 financial year, up by 3.7% year-on-year from US$325m in the first quarter of the 2022 financial year. Despite this, the company reported a loss for the quarter of US$8.23m, compared to a net profit of US$20.5m in the first quarter of the 2022 financial year. For the first half of the current 2023 financial year, Sumitomo Osaka Cement expects to deliver sales of US$726m and a net profit of US$3.71m.

Published in Global Cement News
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Sumitomo Osaka Cement announces next price rise from October 2022

03 August 2022

Japan: Sumitomo Osaka Cement has announced its next price rise from the start of October 2022. It previously raised the price of its cement-related products by 20% in April 2022. It blamed this on rising raw material, energy and logistics costs. A further price will be considered from April 2023.

Published in Global Cement News
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Sumitomo Osaka Cement’s profits hit by fuel costs

13 May 2022

Japan: Sumitomo Osaka Cement’s sales fell by 23% year-on-year to US$1.43bn in the financial year to the end of March 2022 from, US$1.85bn in same period in 2021. Its domestic sales volumes of cement grew slightly to 8.34Mt but exports sales volumes rose by 8.4% to 1.54Mt. Its operating income dropped by 59% to US$53.3m from US$129m. The company blamed its falling profits on rising input costs including energy prices such as a coal and oil.

Published in Global Cement News
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Sumitomo Osaka Cement’s sales fall as profit rises in first nine months of 2022 financial year

10 February 2022

Japan: Sumitomo Osaka Cement recorded sales of US$1.19bn in the first nine months of the 2022 financial year, down by 22% year-on-year. The company’s net profit was US$71.7m. For its full-year 2022 financial year, the group forecast sales of US$1.61bn, down by 22% from full-year 2021 financial year levels. It expects full-year net profit to drop by 32% to US$69.2m.

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Sumitomo Osaka Cement introduces internal carbon pricing system

02 February 2022

Japan: Sumitomo Osaka Cement started using an internal carbon pricing system for capital investments from January 2022. It is intended to create economic incentives for emission reductions and promote low-carbon investment. The starting price will be around Euro39/t of CO2. The measure follows the company’s introduction of its 2050 carbon neutral goals and policies in late 2020.

Published in Global Cement News
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Sumitomo Osaka Cement to raise prices in April 2022

19 January 2022

Japan: Sumitomo Osaka Cement says it plans to raise the price of its cement-related products by 20% in April 2022. It has blamed this on rising raw material, energy and logistics costs.

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Sumitomo Osaka Cement’s sales fall in first half of 2022 financial year

30 November 2021

Japan: Sumitomo Osaka Cement recorded consolidated first-half sales of US$790m in its 2022 financial year, down by 20% from US$993m in the first half of the 2021 financial year. Its cement sales were US$544m, down by 31% from US$784m. It exported 778Mt of cement, up by 33% from 594Mt in the first half of the 2021 financial year. Its domestic sales volume was 4.1Mt, up by 1.2% from 4.05Mt.

The group forecast full-year consolidated sales of US$1.65bn, down by 22% year-on-year from US$2.12bn.

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Sumitomo Osaka Cement’s Ako cement plant to receive future disaster waste from Hyogo Prefecture

18 November 2021

Japan: Sumitomo Osaka Cement has secured an agreement with Hyogo Prefecture for the future reception and processing of the prefecture’s waste from disasters such as earthquakes. The company says that the agreement will facilitate the rapid reception of such materials and to best support clean-up efforts.

President Hironori Morohashi said “We will continue to strengthen our cooperative relationship with Hyogo Prefecture and work to form a sustainable society and develop and improve the region.”

Published in Global Cement News
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Sumitomo Osaka Cement to raise prices from February 2022

03 November 2021

Japan: Sumitomo Osaka Cement says it will raise the price of its cement from February 2022 due to rising coal and heavy fuel oil costs. It said that these mounting input prices were leading to ‘significant’ manufacturing and logistical overheads. The cement producer expects that these energy prices will remain high in the foreseeable future. It added that maintenance, labour and carbon neutrality goal costs were also growing.

Published in Global Cement News
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