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Sumitomo Corp (8053.T)

8053.T on Tokyo Stock Exchange

1,302JPY
11:30am IST
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¥1,310
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¥1,801
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Latest Key Developments (Source: Significant Developments)

Sumitomo Corp CFO Says FY2020/21 Earnings Forecast Factored In 250 Bln Yen Of One-Off Losses
Friday, 7 Aug 2020 

Aug 7 (Reuters) - :SUMITOMO CORP CFO SAYS FY2020/21 EARNINGS FORECAST FACTORED IN 250 BILLION YEN ($2.37 billion) OF ONE-OFF LOSSES.SUMITOMO CFO SAYS THERE IS RISK OF ADDITIONAL IMPAIRMENT LOSS ON NICKEL PROJECT IN MADAGASCAR AFTER BOOKING 55 BILLION YEN IN CHARGES IN Q1.SUMITOMO OFFICIAL SAYS EXPECTS AMBATOVY NICKEL PROJECT TO RESUME OPERATION FROM JANUARY-MARCH QUARTER.  Full Article

Contact Energy Ltd Says Recently Completed Appraisal Of Tauhara Geothermal Field Near Taupō
Tuesday, 23 Jun 2020 

June 23 (Reuters) - Contact Energy Ltd ::RECENTLY COMPLETED APPRAISAL OF TAUHARA GEOTHERMAL FIELD NEAR TAUPŌ.SELECTED SUMITOMO CORP AS PREFERRED CONSTRUCTION PARTNER FOR A 150MW POWER STATION DEVELOPMENT AT TAUHARA.IF TAUHARA PROCEEDS, CO EXPECT TO MAKE ADDITIONAL INVESTMENT IN ORDER OF NZ$600M.  Full Article

First Pacific Announces Sale Of Interest In Metro Pacific Light Rail Corporation
Friday, 29 May 2020 

May 29 (Reuters) - First Pacific Co Ltd <0142.HK>::ANNOUNCE SALE OF INTEREST IN METRO PACIFIC LIGHT RAIL CORPORATION BY METRO PACIFIC INVESTMENTS CORPORATION.UNIT ENTERED INTO SPA WITH SUMITOMO.PURSUANT TO SPA, MPIC TO SELL ABOUT 34.9% SHAREHOLDING IN MPLRC FOR 3 BILLION PESOS.IMMEDIATELY FOLLOWING CLOSING OF DEAL, MPIC TO REMAIN INTERESTED IN 65.1% OF ISSUED & OUTSTANDING CAPITAL STOCK OF MPLRC.  Full Article

Sumitomo Corp Exec Says Not Expecting To Book Net Loss In FY2020/21 Despite Coronavirus Impact
Friday, 8 May 2020 

May 8 (Reuters) - Sumitomo Corp <8053.T>::SUMITOMO CORP EXECUTIVE SAYS CORONAVIRUS PANDEMIC IS HURTING ITS BUSINESS IN STEEL PRODUCTS, TRANSPORTATION AND RESOURCES.SUMITOMO EXECUTIVE: SUSPENSION OF 3 METALS MINES, INCLUDING MADAGASCAR'S NICKEL MINE, IS CUTTING ITS PROFIT BY 6-7 BILLION YEN EVERY MONTH.SUMITOMO EXECUTIVE SAYS NOT EXPECTING TO BOOK NET LOSS IN FY2020/21 DESPITE CORONAVIRUS IMPACT.SUMITOMO EXECUTIVE SAYS UNCLEAR WHEN MADAGASCAR GOVERNMENT WILL ALLOW AMBATOVY NICKEL MINE TO RESTART.SUMITOMO EXECUTIVE SAYS UNCLEAR WHEN MADAGASCAR GOVERNMENT WILL ALLOW AMBATOVY NICKEL MINE TO RESTART.SUMITOMO SAYS AMBATOVY MINE PRODUCED 35,900 TONNES OF NICKEL IN FY2019/20.  Full Article

Sumitomo Corp - Might Miss 300 Billion Yen Profit Forecast For Just Ended FY By Almost 100 Billion Yen Because Of Coronavirus Impact
Wednesday, 8 Apr 2020 

April 8 (Reuters) - Japan's Sumitomo Corp <8053.T>::MIGHT MISS 300 BILLION YEN PROFIT FORECAST FOR JUST ENDED FY BY ALMOST 100 BILLION YEN BECAUSE OF CORONAVIRUS IMPACT.  Full Article

Aar Corp - Aar And Sumitomo Corporation Announce Joint Venture
Wednesday, 1 Apr 2020 

Sumitomo Corp <8053.T>::AAR CORP - AAR AND SUMITOMO CORPORATION ANNOUNCE JOINT VENTURE.AAR CORP - JV AAR SUMISHO AVIATION SERVICES WILL DISTRIBUTE AIRCRAFT PARTS, OFFER AVIATION LOGISTICS MANAGEMENT SOLUTIONS TO JAPANESE DEFENSE MARKET.AAR CORP - PARTNERSHIP WILL DISTRIBUTE PARTS FROM OEMS BASED IN JAPAN TO GLOBAL AVIATION AFTERMARKET.  Full Article

Sumitomo revises loss forecast for FY2019/20 from its stake in Ambotovy nickel project to 21 bln yen from 16.8 bln yen
Friday, 7 Feb 2020 

Feb 7 (Reuters) - Sumitomo Corp <8053.T>::SUMITOMO CORP SAYS IT HAS CUT ITS NICKEL OUTPUT FORECAST FROM AMBATOVY MINE IN MADAGASCAR IN FY2019/20 TO 37,000 TONNES FROM 40,000 TONNES.SUMITOMO CFO SAYS COMPANY AIMS TO BOOST ANNUAL NICKEL OUTPUT AT AMBATOVY MINE TO 50,000 TONNES AS SOON AS POSSIBLE.SUMITOMO CFO SAYS COMPANY DOESN'T SEE A RISK OF BOOKING ANOTHER IMPAIRMENT LOSS ON ITS STAKE IN AMBATOVY NICKEL MINE AS LONG AS OPERATIONS ARE STABILISED.SUMITOMO CFO SAYS COMPANY HAS REVISED ITS FY2019/20 LOSS FORECAST FROM ITS STAKE IN AMBOTOVY PROJECT TO 21 BILLION YEN FROM 16.8 BILLION YEN.  Full Article

Vietnam Awards Weather Satellite Deal To NEC And Sumitomo - Nikkei
Friday, 18 Oct 2019 

Oct 18 (Reuters) - Nikkei::NEC & SUMITOMO AGREED TO A CONTRACT TO DEVELOP SATELLITE FOR VIETNAMESE GOVERNMENT THAT WILL HELP PREDICT SEVERE WEATHER & SURVEY RESULTING DAMAGE - NIKKEI.NEC & SUMITOMO'S WEATHER SATELLITE ORDER FOR VIETNAMESE GOVERNMENT IS ESTIMATED AT OVER 20 BILLION YEN ($184 MILLION) - NIKKEI.MOST OF FINANCING FOR NEC, SUMITOMO'S WEATHER SATELLITE ORDER TO BE COVERED BY STATE-BACKED YEN LOAN FROM JAPAN INTERNATIONAL COOPERATION AGENCY - NIKKEI.  Full Article

Bowen Coking Coal Says Term Sheet Signed With Sumitomo For Hillalong Farm In
Monday, 7 Oct 2019 

Oct 7 (Reuters) - Bowen Coking Coal Ltd ::TERM SHEET SIGNED WITH SUMITOMO FOR HILLALONG FARM IN.TERM SHEET SIGNED WITH SUMITOMO CORPORATION FOR A FARM‐IN AGREEMENT ON HILLALONG COKING COAL PROJECT.SUMITOMO TO EARN INITIAL 10% BY FUNDING $2.5M OF EXPLORATION EXPENDITURE, WITH RIGHT TO ADDITIONAL 10% BY FURTHER $5M IN FUNDING.  Full Article

Sumitomo Corp: Expect Madagascar's Ambatovy Nickel Plant To Produce 40,000-44,000 Tonnes In FY2019/20, Against 35,286 Tonnes In FY2018/19
Thursday, 9 May 2019 

May 9 (Reuters) - Sumitomo Corp <8053.T>::SUMITOMO CORP: EXPECT MADAGASCAR'S AMBATOVY NICKEL PLANT TO PRODUCE 40,000-44,000 TONNES IN FY2019/20, AGAINST 35,286 TONNES IN FY2018/19.SUMITOMO EXECUTIVE SAYS SEES 17.4 BILLION YEN LOSS FROM ITS STAKE IN AMBATOVY NICKEL PROJECT IN FY2019/20, AGAINST 40.3 BILLION YEN LOSS IN FY2018/19.  Full Article

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Japan's Sumitomo sells all of its stake in U.S. Marcellus shale gas project

TOKYO Japanese trading house Sumitomo Corp has sold all its stake in the Marcellus shale gas project in the United States for a undisclosed sum, it said on Monday in a statement.