Sumitomo Corporation's financial results for the fiscal year ended March 31, March, fell to the largest deficit in history due to the stagnation of global economic activity due to the spread of the new coronavirus infection, and profits decreased at five companies.
Sumitomo Corporation's financial results for the fiscal year ended March 31, 2013 were due to the stagnation of global economic activity due to the spread of infection, and the recording of a large loss in the development of a nickel mine in Madagascar and multiple infrastructure-related projects. The final profit and loss of the entire group was a deficit of 153 billion yen.
It is the first time in six years that a one-year settlement of accounts has been in the red, and the deficit is the largest ever.
Among other major trading companies, the final profits of all five companies, excluding Marubeni, which turned into the black, decreased due to the decline in resource prices and sluggish automobile-related business.
The rate of decrease was 19% for Itochu, 14% for Mitsui, 67% for Mitsubishi, 0.7% for Toyota Tsusho, and 55% for Sojitz.
On the other hand, regarding the business results for the fiscal year ending March next year, Sumitomo Corporation has indicated that it will return to the black for the first time in two years, saying that the global economy is on a recovery trend, and other companies are also expecting an increase in profits. I will.
Sumitomo Corporation Managing Director Katsutoshi Shiomi said, "In addition to vaccination, the global economy may improve slowly, supported by the fiscal and monetary policies of each country. I don't think the Japanese economy will fall significantly." I'm talking to you.