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 ...

Mar 6, 2015

Sumitomo to build ¥5 billion thermal power plant in Myanmar

Sumitomo Corp. said Friday it has won an order to construct a thermal power plant in Myanmar. The order from Myanmar Electric Power Enterprise, an affiliate of the Ministry of Electric Power, is worth about ¥5 billion, Sumitomo said. The plant will have two ...

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 ...

Oct 1, 2013

Osaka Gas to enter U.K. tap water industry

Osaka Gas Co. said Monday it will buy a big stake in a utility supplying tap water to London and surrounding areas from Sumitomo Corp. By acquiring a 50 percent stake in Summit Water U.K. Ltd., the parent of Sutton and East Surrey Water ...