Sumitomo Electric Releases Annual Report 2016
Sumitomo Electric Industries, Ltd. is pleased to announce that it released its Annual Report 2016. The report includes the Company’s financial results for the past fiscal year ended March 31, 2016 and progress updates on its financial goals for FY 2016.
Highlights in the Annual 2016 report include;
- The successful J-Power Systems bid for the HVDC Submarine Interconnector Cable System between the United Kingdom and Belgium demonstrates the strength of the Sumitomo Electric group in Europe. This order holds special significance because it marks the first time that an Asian cable manufacturer has been employed in Europe to construct an international power cable, one of the region’s most important pieces of infrastructure.
- Sumitomo Electric Group sales in Europe and other areas amounted to ¥343.7 billion (€3,039M), accounting for 11.7% of total consolidated sales.
- Sumitomo Electric Group demonstrates it’s commitment to the automotive market, with 52% of group sales attributed our automotive products, including wiring harnesses, anti-vibration rubber, as well as safe, comfortable and environment friendly automotive components and systems.
- Automotive Segment Research and Development. Applying its unique material and analysis technologies, Sumitomo Electric, together with Sumitomo Wiring Systems, Ltd., and a research firm jointly owned by both companies, AutoNetworks Technologies, Ltd., is developing new wiring harnesses and automotive electronic equipment designed to meet customer needs for safety, ease of use, and environmental friendliness.
The Company is reducing the weight of wiring harnesses for environmental reasons, and is going ahead with mass production of wiring harnesses made of aluminium, which is lighter than copper. Stronger aluminium harnesses have been developed, and they are being used in an expanding range of applications, such as around automobile engines. Sumitomo Electric is also working on high-voltage harnesses and connectors for electric vehicles (EVs) and hybrid electric vehicles (HEVs), as well as battery internal wire modules. In automotive electronic equipment, it is developing a number of products to enable networking of power systems and information systems, such as power distributors, semiconductor devices, onboard electronic control units (ECUs), and next-generation automotive local area networks (LANs), including gateways and other communications equipment.
To view Sumitomo Electric’s Annual Report 2016, please visit http://global-sei.com/ir/library/