Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Japan’s Sumitomo Corp has revised its sales and profitability projections upwards for FY2020 (ending on March 31, 2021) citing higher prices for copper and nickel in the last two quarters of the year.


The base and precious metals miner indicated in an exchange filing on Feb 8 that it expected its sales during the fiscal to rise by 5.4pc or JPY46bn to JPY904bn ($8.59bn) against a previous forecast of JPY858bn. The company’s net profit is expected to rise by 68.8pc or JPY33bn to JPY81bn from the previously forecasted JPY48bn. 


In the nine-months ended on December 31, 2020, Sumitomo’s net sales increased by 4.2pc to JPY672bn though its net profit declined by 12pc to JPY46.93bn against a 73.1pc rise in income to JPY64bn.



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