Business / Corporate 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 on ...

Business / Corporate 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 it ...

Business / Corporate 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 to ...

Business / Corporate 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 PLC, ...