The Company recorded an impairment loss of 42,553 million yen in cost of sales due to a revision of the asset retirement obligation estimate at its nickel refining subsidiary, Coral Bay Nickel Corporation. The recoverable amount was reduced to 41,984 million yen. This has been reflected in the interim financial summary under IFRS. 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The recoverable amount was reduced to 41,984 million yen. This has been reflected in the interim financial summary under IFRS. A review of restoration obligations is also anticipated in the Medium-Term Management Plan 2030 period.","jir_summary":"### Key Points\nAt our consolidated subsidiary Coral Bay Nickel Corporation, we revised the carrying amount of tangible fixed assets due to a change in the estimate of asset retirement obligations and recorded an impairment of 42,553 million yen in cost of sales. The recoverable amount was reduced to 41,984 million yen and is measured based on value in use. The impact has been reflected in the interim financial summary for the six months ended March 31, 2027 under IFRS.\n\n### Background and Future Impact\nAs a result of reassessing the estimated costs to fulfill restoration obligations after the end of production, the amount of asset retirement obligations was recalculated. Considering prolonged weakness in nickel and cobalt prices, rising costs, and deterioration in ore quality, we comprehensively evaluated economics to determine the recoverable amount. We plan to revise our response policy for the Medium-Term Management Plan 2030 target period (fiscal years 2028\u20132030).","jir_financial_highlights":"Impairment loss: 42,553 million yen (Unknown)\nRecoverable amount: 41,984 million yen (Unknown)","jir_category":"","jir_hashtags":"#SumitomoMetalMining, #Earnings, #Impairment, #IFRS","jir_key_figures":"Impairment loss: 42,553 million yen\nRecoverable amount: 41,984 million yen\nTarget period: Fiscal years 2028 to 2030","jir_meta_title":"Sumitomo Metal Mining Co., Ltd. \u2014 Notice of Impairment Recognition | November 10, 2026","jir_meta_description":"Sumitomo Metal Mining Co., Ltd. recorded an impairment of 42,553 million yen due to a revision of asset retirement obligations at Coral Bay Nickel Corporation. The recoverable amount was reduced to 41,984 million yen. The company also outlines its response policy for the Medium-Term Management Plan 2030 period.","jir_og_title":"Sumitomo Metal Mining Co., Ltd. \u2014 Notice of Impairment Recognition | November 10, 2026","jir_og_description":"Recorded an impairment of 42,553 million yen related to the review of asset retirement obligations at Coral Bay Nickel. Recoverable amount reduced to 41,984 million yen. Reflected in the interim financial summary under IFRS.","jir_og_image_url":"\/assets\/og\/company-general_ir.jpg","jir_chart_data_collection":"[]","ir_related_company":7416,"ir_release_date":"","ir_type":"","ir_is_new":false,"ir_document_url":"","jir_ir_type":"financial_summary","footnotes":""},"sector":[],"importance":[],"class_list":["post-146336","ir_release","type-ir_release","status-publish","hentry"],"yoast_head":"\n