Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper 
Apple App Store Injunction Largely Upheld as Appeals Court Rules on Epic Games Case 
Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise 
Rio Tinto Signs Interim Agreement With Yinhawangka Aboriginal Group Over Pilbara Mining Operations 
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
SK Hynix Considers U.S. ADR Listing to Boost Shareholder Value Amid Rising AI Chip Demand 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
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.
