Latest news with #SumitomoCorp
Yomiuri Shimbun
11-07-2025
- Automotive
- Yomiuri Shimbun
Japan Firm Aims to Begin Commercial Operations of Flying Car Taxis by Early 2030s
Soracle Corp. announced Thursday that it aims to begin commercial operations of 'flying cars' by 2027. Yukihiro Ota, CEO of the Tokyo-based company involved in the operation of next-generation flying cars, said the company aims to begin commercial operations of paid transport for people. The company was jointly established by Japan Airlines Co. and Sumitomo Corp. It plans to start first in the Kansai region and then expand to other regions, including Kanto. 'Kansai will be our top candidate for where we start commercial operations of the flying cars, as we have established cooperative relationships with many people involved in the flying car industry through the Expo,' Ota told reporters at the 2025 Osaka-Kansai Expo venue. The company plans to begin scenic flights around Osaka Bay and flights between two sites by 2027, using aircraft from U.S. firm Archer Aviation Inc. After that, it will expand service areas to other parts of the Kansai region and make flying cars as easily available as taxis by the early 2030s. At the Expo site on Thursday, Soracle unveiled to the press a full-scale model of an Archer Aviation aircraft, which has five seats and is about 10 meters long.
10-07-2025
- Business
Sumitomo to Invest in Clean Energy Projects in Britain
News from Japan Economy Jul 10, 2025 19:54 (JST) Tokyo, July 10 (Jiji Press)--Sumitomo Corp. said Thursday that it has signed a memorandum with the British government to promote clean energy investment. The Japanese trading house plans to invest a total of 7.5 billion pounds in British offshore wind power generation and hydrogen projects by 2035. The investment is part of Sumitomo's commitment to Britain's clean energy and infrastructure sectors. In May, Sumitomo, along with Tokyo Metro Co., joined the operation of the Elizabeth subway line in London. Britain's minister for investment, Poppy Gustafsson, said that Sumitomo's investment will help create high-value jobs and support Britain's economic growth. In March, the Japanese and British governments held a "two-plus-two" meeting of their foreign and economic ministers in Tokyo, and agreed to collaborate to boost free trade and economic security, in addition to clean energy. [Copyright The Jiji Press, Ltd.] Jiji Press
Forbes
05-07-2025
- Business
- Forbes
Aboitiz-Led Group Submits Top $642 Million Bid For Philippine State-Owned Hydro Power Plant
The Caliraya-Botocan-Kalayaan hydroelectric plant in Laguna, South of Manila. A consortium led by a unit of Aboitiz Equity Ventures—controlled by tycoon Sabin Aboitiz and his family—submitted the highest bid of 36.3 billion pesos ($642 million) for a government-owned hydro power facility. Led by Aboitiz Renewables, the Thunder Consortium—which includes Japanese companies Sumitomo Corp. and Electric Power Development—edged the 19.6-billion-pesos offer of First Gen Prime Energy and its partner Korea Water Resources Corp., the only other qualified bidder for the 728-megawatt power facility, the Power Sector Assets & Liabilities Management Corp., a government agency in charge of divesting assets of state-owned National Power Corp., said on Friday. 'The Thunder Consortium will undergo a rigorous post-qualification process to verify the accuracy and authenticity of the eligibility documents submitted,' the state agency said. The Caliraya-Botocan-Kalayaan hydroelectric plant, which straddles three towns in Laguna province, south of Manila, is one of the government's oldest power facilities. It's currently operated by CBK Power Company, which is jointly owned by Aboitiz's Japanese partners, under a build, rehabilitate, operate and transfer contract with the government that expires in February 2026. Aboitiz Power, parent of Aboitiz Renewables, and other Philippine energy companies, including the Lopez family's First Gen, are bulking up on clean energy assets amid a push by government to increase the share of renewables in the nation's electricity production energy mix from 21% last year to 50% by 2040. Aboitiz Equity CEO Sabin Aboitiz said in an interview with Forbes Asia in 2023 that the group is spending 190 billion pesos this decade in renewable energy to more than double its installed electricity generation capacity to 9.2 gigawatts by 2030. The group will accelerate the construction of geothermal, solar, wind and hydro power stations to achieve its goal of sourcing half of its electricity output from renewable sources by 2030, he said then. Aboitiz Equity is one of the leading Philippine conglomerates with interests in power, banking and financial services, food, and real estate. Sabin and his family have an estimated net worth of $2.2 billion, placing them at No. 10 in the Forbes Asia list of the Philippines' 50 Richest that was published in August 2024.
Yahoo
23-06-2025
- Business
- Yahoo
Zacks.com featured highlights SSUMY, IHICY, NOMD, GLDD and NGS
Chicago, IL – June 23, 2025 – The stocks in this week's article are Sumitomo Corp. SSUMY, IHI Corp. IHICY, Nomad Foods Ltd. NOMD, Great Lakes Dredge & Dock Corp. GLDD and Natural Gas Services Group, Inc. NGS. Picking profit-making stocks for investments might be popular but not flawless. This is because even a profit-making company can have a deficiency of cash flow and become bankrupt while meeting its obligations. However, one can effectively judge a company's resilience by looking at its efficiency in generating cash flows. In this regard, stocks such as Sumitomo Corp., IHI Corp., Nomad Foods Ltd., Great Lakes Dredge & Dock Corp. and Natural Gas Services Group, Inc. are worth buying. Cash, which is indeed the lifeblood of any business, gives a company the flexibility to make decisions, the means to make potential investments and the fuel to run its growth engine. Moreover, cash shields a company from market turmoil and indicates that profits are being channelized in the right direction. Moreover, with uncertainties in the global economy, market disruptions and dislocations, as well as liquidity concerns resulting from geopolitical tensions, analyzing a company's cash-generating efficiency holds more relevance in the current context. To figure out this efficiency, one needs to consider a company's net cash flow. While in any business, cash moves in and out, it is net cash flow that explains how much money a company is actually generating. If a company is experiencing a positive cash flow, it denotes an increase in its liquid assets, which gives it the means to meet debt obligations, shell out for expenses, reinvest in the business, endure downturns and finally return wealth to shareholders. On the other hand, a negative cash flow indicates a decline in the company's liquidity, which in turn lowers its flexibility to support these moves. However, having a positive cash flow merely does not secure a company's future growth. To ride on the growth curve, a company must have its cash flow increasing because that indicates management's efficiency in regulating its cash movements and less dependency on outside financing for running its business. Therefore, keep yourself abreast with the following screen to bet on stocks with rising cash flows. Here are five out of the nine stocks that qualified for the screening: Sumitomo Corp., headquartered in Tokyo, Japan, is engaged in multifaceted business activities. It operates as an integrated trading company worldwide. The company sells a variety of domestic products and services, and conducts import, export and trilateral business transactions. It also provides domestic and international business investment and participates in numerous other activities in various industrial sectors around the world. The Zacks Consensus Estimate for fiscal 2026 earnings per share has improved 6% over the past two months. SSUMY has a VGM Score of A. IHI Corp., also headquartered in Tokyo, Japan, engages in the design, manufacture, sale, installation, repair, overhaul and maintenance of heavy machinery. The Zacks Consensus Estimate for fiscal 2026 earnings per share has improved 28.6% over the past two months. IHICY has a VGM Score of A. Nomad Foods manufactures and distributes frozen foods, primarily in the United Kingdom, Italy, Germany, Sweden, France and Norway. The consensus estimate for Nomad Foods' current-year earnings has been revised 4% north over the past two months to $2.07 per share, which calls for a 7.3% increase year over year. NOMD has a VGM Score of A. Great Lakes Dredge & Dock is the largest provider of dredging services in the United States, conducting business to maintain and deepen shipping channels, reclaim land from the ocean and renourish storm-damaged coastline. The Zacks Consensus Estimate for Great Lakes Dredge & Dock's 2025 earnings has been revised upward by 39.1% to 96 cents per share over the past two months. GLDD has a VGM Score of A. Natural Gas Services Group manufactures, fabricates, sells, rents and services natural gas compressors that enhance the production of natural gas wells. The Zacks Consensus Estimate for 2025 earnings per share has improved 18.6% over the past two months. NGS has a VGM Score of B. Get the rest of the stocks on the list and start putting this and other ideas to the test. It can all be done with the Research Wizard stock picking and back-testing software. The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out. Click here to sign up for a free trial to the Research Wizard today. For the rest of this Screen of the Week article please visit at: Follow us on Twitter: Join us on Facebook: Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Contact: Jim Giaquinto Company: Phone: 312-265-9268 Email: pr@ Visit: provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Sumitomo Corp. (SSUMY) : Free Stock Analysis Report Natural Gas Services Group, Inc. (NGS) : Free Stock Analysis Report Great Lakes Dredge & Dock Corporation (GLDD) : Free Stock Analysis Report Nomad Foods Limited (NOMD) : Free Stock Analysis Report IHI CORP (IHICY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
08-06-2025
- Business
- Mint
Japanese developers bet big on Indian realty, lured by long-term growth promise
Bengaluru: Japanese investors and developers are placing large bets on India's real estate sector, prompted by a turnaround in the office, logistics and residential sectors, and convinced about the country's long-term economic growth prospects, analysts said. Post-pandemic, Japanese companies such as Sumitomo Realty & Development and Sumitomo Corp. (both Sumitomo Group firms), Mitsubishi Estate Co. Ltd, Mitsui Fudosan Co. Ltd, Mitsui O.S.K Lines Ltd and its subsidiary Daibiru Corp. and Marubeni Corp. among others have poured in millions into real estate projects and land parcels, primarily in Mumbai and National Capital Region (NCR). The deal momentum has gained further pace this year. Also read: Global firms Hines, Sumitomo partner for Mumbai condominium project In June, Goisu Realty, a group firm of developer Sumitomo Realty, which accounts for the highest share of India investments among Japanese firms, was allotted two land parcels in Mumbai's Bandra Kurla Complex, by Mumbai Metropolitan Region Development Authority (MMRDA), for a total of ₹3,138 crore. It paid 39-40% premium over the bid price for both the land patches. Similarly, Sumitomo Corp. partnered with other companies this year for two projects—an office project in suburban Mumbai's Kalina, near BKC, and a luxury condominium project in Powai. Mitsubishi Estate is also an equity investor in the office project. 'India is expected to continue experiencing a demographic dividend, along with maintaining economic growth in the 6% range. In addition to its domestic demand-led economic structure, the country is increasingly recognized as a global business hub, particularly in the IT, financial and service sectors," Sumitomo Corp. said in a June statement, announcing its entry into the Mumbai office market. 'Based on the shared recognition that India remains a resilient growth market even amid today's increasingly uncertain global economy, we have decided to participate in this project," the firm added. Also read: Prime Offices Fund makes ₹750 crore debut with Delhi office buy Japanese real estate investors and developers entered India much after the American, Canadian, West Asians and Singaporeans did. The Japanese, however, are patient, equity investors betting on land and early-stage projects, and not shying away from taking development risks, experts said. 'Japanese capital is demonstrating rare conviction by backing early-stage development deals across India's core real estate segments—office, logistics and residential. This is not opportunistic investing, but a strategic bet on the country's long-term growth trajectory," said Nishant Kabra, head—land & capital markets (North and West) India, JLL, a property advisory. 'In the last five years, we've seen over $1.5 billion flow into development equity—a clear signal that Japan Inc. sees India not just as a market, but as a multi-decade growth partner," Kabra added. Japanese investors entered India's realty sector via direct investments, or alliances with local partners or other international investors. Last year, Daiburu, with a century-old experience in constructing office buildings in Japan, said it has made its first India real estate investment, pumping in $123 million in 'Atrium Place', a premium office project in Gurugram, being developed by Hines India and DLF Ltd. 'India is a key pillar of the MOL Group's (Mitsui O.S.K Lines) strategy to diversify its business portfolio by increasing non-shipping, stable revenue businesses that counter-balance the volatile shipping market," Daibiru said. Meanwhile, Japanese shipping giant MOL Group has been actively expanding its presence in India. 'The Japanese came to the party late, but they are very long-term investors. Unlike other international investors and funds, they are not married to returns. Japanese real estate investors have no pressure to sell or exit investments, don't operate in a fund structure and rarely manage third-party money, which makes them different from the others," said Shobhit Agarwal, managing director and chief executive officer at Anarock Capital. As the real estate sector continues to perform on all fronts, Japanese investors are also eyeing multi-city investments, diversifying their portfolios and doing follow-on funding. Also read: India office Reits report higher FY25 income, leasing on strong GCC demand Last year, Mitsubishi Estate partnered with Alta Capital-backed logistics platform Logicap Management to develop industrial and warehousing assets in Chennai, Pune and NCR, betting on a sector that is highly fragmented but with growth potential. This year, the joint venture was extended with an additional investment to develop more assets. Earlier this year, Mitsubishi Estate also invested ₹560 crore in Birla Estates Pvt Ltd's residential project in Bengaluru, marking its maiden residential investment in India.
