Sumitomo Corp.'s Shift to Growth Areas Looks Encouraging -- Market Talk
Dow Jones11-13
0521 GMT - Sumitomo Corp.'s shift to focus on growth areas looks encouraging, says Morningstar director Kazunori Ito in a note, pointing to its plan to fully acquire IT services firm SCSK Corp. Management maintains its full-year net profit guidance of Y570 billion despite trimming the outlook for underlying businesses, which is offset by a reduced safety margin. Morningstar keeps net profit forecast for the fiscal year at Y576 billion and its fair value estimate on the stock at Y4,600, noting shares are fairly valued. Shares last traded at Y4,891. (jason.chau@wsj.com)
(END) Dow Jones Newswires
November 13, 2025 00:21 ET (05:21 GMT)
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