/ 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 ...

/ Dec 25, 2013

Refiners to merge LPG operations

Three oil refiners and trading firm Sumitomo Corp. plan to merge their liquefied petroleum gas import and wholesale operations in a move that would give them the largest share of Japan’s LPG market. The refiners are Cosmo Oil Co., TonenGeneral Sekiyu K.K. and Showa ...