Sumitomo Earnings: Metal Prices Boost Profit, Expect Slightly Weaker Second Half; Fairly Valued
Sumitomo posted first-half fiscal 2026 (ending March 2027) net profit of JPY 348 billion, up 15% year over year. Profit growth was driven by higher metal prices, a weak Japanese yen, higher asset turnover from energy, and contributions from Sumisho Air Lease and SCSK. Sumitomo raised guidance by 6%.