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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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UPDATE 1-TPG sells stake in Indonesia's BTPN to Sumitomo for $462 mln

2015-02-18 16:13:38| Grocery - Topix.net

Private equity firm TPG Capital has sold a 17.5 percent stake in PT Bank Tabungan Pensiunan Nasional Tbk to an affiliate of Japan's Sumitomo Corp for 5.93 trillion rupiah . TPG Nusantara sold 1.02 billion BTPN shares at 5,800 rupiah apiece, a 43 percent premium to the last traded price, to Summit Global Capital Management, BTPN said in a filing to the Indonesian stock exchange on Wednesday.

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Nippon Steel & Sumitomo Metal cuts profit outlook

2015-01-29 08:28:31| Steel - Topix.net

Nippon Steel & Sumitomo Metal Corp. said Thursday that it cut its net profit forecast for this fiscal year, citing a Y68.6 billion extraordinary loss at an affiliate in Brazil. The Japanese steelmaker lowered its net profit view for the year ending March 31 by Y70 billion to Y180 billion.

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Gerd Liebig new sales executive with Sumitomo (SHI) Demag

2015-01-19 16:21:35| Canadian Plastics Headlines

Gerd Liebig is set to become the new managing director, chief sales officer of injection machine maker Sumitomo (SHI) Demag Plastics Machinery GmbH. Effective April 1, Liebig, 53, takes over the full responsibility of all worldwide sales, after sales and… The post Gerd Liebig new sales executive with Sumitomo (SHI) Demag appeared first on Canadian Plastics.

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