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Sumisho incurred a loss of 240 billion yen Failed shale oil development
Sumitomo Corporation announced on April 29 that it expects to post a loss of approximately 240 billion yen due to the failure of its shale oil development business in the United States. As a result, the company revised downward its consolidated net income for the fiscal year ending March 31, 2015, from 250 billion yen to 10 billion yen from the previous forecast. The company's president Kuniharu Nakamura (center) and others at the press conference on the afternoon of September 29, 2014 in Chuo-ku, Tokyo.
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25491100
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Creation date
05-10-2014
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