Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Sumitomo Corp's Financial Update
Japanese trading house Sumitomo Corp reported a net profit of 254 billion yen (approximately $1.7 billion) for the six months ending September 2024. This figure marks an 11% decrease compared to 285 billion yen during the same period last year, primarily attributed to declining coal prices.
Financial Performance Overview
Despite the profit decline, Sumitomo Corp has maintained its net profit forecast for the fiscal year ending March 2025, projecting a stable target of 530 billion yen. The company's resilience in its financial outlook reflects strategic adjustments to market conditions.
Conclusion
As Sumitomo Corp navigates the challenges posed by weak coal prices, it remains committed to its financial goals, signaling a focus on stability amidst fluctuating market dynamics.
