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Sumitomo Turns to Stress Tests, Outside Advice to Avoid Losses

2015-03-25 21:29:38| Grocery - Topix.net

Sumitomo Corp. will put its commodity assets through stress tests and hire external consultants to avoid the kind of writedowns that are set to lead the Japanese trading house to its biggest annual loss since 1997. Sumitomo must improve the quality of its market research and worker experience, and add at least one more independent director to its board, Chief Executive Officer Kuniharu Nakamura said late Wednesday at a media briefing in Tokyo.

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