/ 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 on ...

/ 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 ...

/ 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 ...

/ 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 Shell ...

/ 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, ...