Sumitomo Electric raises outlook after strong first half results By Investing.com
Update: 2025-10-31
Description
Sumitomo Electric's first half financial results are impressive, with a 28% increase in operating profit to 153 billion yen, driven by their information and communications business. The company acquired Sumitomo Riko for 130 billion yen and sold Sumitomo Densetsu to Daiwa House, streamlining their structure. With these moves, Sumitomo Electric raised their operating profit target for fiscal year 2026 to 340 billion yen, boosting dividends by 18 yen to 118 yen.
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