Sumitomo Corporation
Loss Recognition in Our Financial Results Due to Transfer of Ambatovy Nickel Project
Approximately JPY 70 billion consolidated loss expected to be recorded in the first quarter of the fiscal year ending March 2027 due to the transfer of all equity interests in the Ambatovy Nickel Project. The transfer consideration is minus JPY 66.9 billion, and the transfer is planned to be executed in the first half of fiscal 2026.
Key Figures
- Sale Consideration: Minus USD 418 million (minus JPY 66.9 billion)
- Consolidated Financial Loss: Approx. JPY 70 billion (Q1 FY March 2027)
- Non-consolidated Financial Loss: Approx. JPY 85 billion (FY March 2027)
AI要約
Overview of the Transfer and Loss Recognition
Sumitomo Corporation resolved to transfer all equity interests in the Ambatovy Nickel Project in Madagascar, which was invested through its wholly-owned subsidiary, to Ambatovy Mineral Resources Investment Holding Company. The transfer consideration is minus USD 418 million (approximately JPY 66.9 billion), and the consolidated financial results for the first quarter of the fiscal year ending March 2027 are expected to record a loss of approximately JPY 70 billion related to securities valuation losses and others. On a non-consolidated basis, a loss of approximately JPY 85 billion is expected to be recorded as non-operating expenses.
Transfer Schedule and Future Outlook
The transfer is planned to be executed during the first half of fiscal 2026, and the associated gain/loss from this transfer is already incorporated into the full-year consolidated earnings guidance for the fiscal year ending March 2027. Additionally, it was resolved to implement a stock split of four shares for one ordinary share effective July 1, 2026, and the earnings per share figure is calculated based on the post-split number of shares.
Sumitomo Corporation
Company overview · Stock price · Financial data · All IR
