/ May 10, 2017

All seven top Japanese trading firms enjoy strong earnings

Powered by higher prices in natural resources such as coal and iron ore, all seven major domestic trading houses enjoyed strong group net profits in fiscal 2016, which ended in March, recently disclosed financial statements have shown. Mitsubishi Corp. and Mitsui & Co. regained ...

/ Dec 9, 2016

Sumitomo to acquire banana producer Fyffes for €751 million

Sumitomo Corp. agreed to buy Fyffes Plc for €751 million ($798 million) in cash, expanding the company’s reach in the global fruit market and sending the Irish producer’s shares soaring. Sumitomo offered €2.23 for the Dublin-based company, 49 percent more than Fyffes’ closing price ...

/ May 9, 2016

Sumitomo Corp. misses profit target, warns of uncertainty

Sumitomo Corp. warned that its business outlook is becoming more uncertain after missing its full-year profit target due to widening impairments on its resources investments. The Tokyo-based trading house said net income in the year through March was ¥74.5 billion, below the ¥100 billion ...

/ Oct 26, 2015

Sumitomo wins thermal power plant order in Turkmenistan

Sumitomo Corp. said Monday it has received a ¥36 billion order from Turkmenistan’s state-run power firm to build a gas-fired thermal power plant. The major trading house said it hoped the order for the 400-megawatt plant will strengthen its electricity business in Central Asia. ...

/ Mar 25, 2015

Trader Sumitomo braces for worst losses since 1997

Sumitomo Corp. said it expects an annual loss of ¥85 billion ($711 million), more than four times the number forecast by analysts, after the trading house posted additional write-downs on its resources investments. The drop in energy and commodity prices means Sumitomo will need ...

/ Aug 13, 2014

Sumitomo takes control of Malaysian fertilizer maker

Sumitomo Corp. and its Singapore-based unit, Sumitomo Corp. Asia & Oceania Pte. Ltd., have taken a controlling stake in Malaysian fertilizer maker Union Harvest Sdn. Bhd. The trading house and its subsidiary said they have raised their joint equity stake in the Malaysian company ...