Japan's Sumitomo Corp annual net profit up 45%, beats forecasts

About this update from Sumitomo Chemical India Ltd.

Japanese trading house Sumitomo Corp TSE:8053 on Thursday posted 562 billion yen ($3.91 billion) in net profit for the year ended in March, up 45.4% from a year ago and beating analysts' expectations. An LSEG poll of analysts had expected Sumitomo to post 554.2 billion yen in net profit for the last fiscal year. The company forecasts profit for the year ending next March at 570 billion yen.($1 = 143.7000 yen)

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