Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Tokyo  >  Sumitomo Corp    8053   JP3404600003

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

Sumitomo Corp : Sumitomo Corporation Enters into Comprehensive Agreement with Gas Technology Institute ~Deal Supports Japanese companies in penetrating Shale Gas related businesses~

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/15/2013 | 08:43am CEST

Sumitomo Corporation (Head Office: Chuo-ku, Tokyo; President and CEO: Kuniharu Nakamura) has entered a comprehensive alliance agreement with Gas Technology Institute (Head Office: Illinois, USA, Representative: David Carroll, hereinafter, "GTI") to assist Japanese companies in taking on a larger role in unconventional gas related businesses.

Unconventional gas development, which gained momentum from the U.S. Shale gas revolution,  said to have begun in 2007, continues to increase, and its possibilities are expanding across the globe. As a result of the many technological breakthroughs achieved, the amount of recoverable resources has increased exponentially, and the related markets are also rapidly expanding. The downhole equipment and related drilling services market is said to be worth over 40 trillion yen, and to consist of over 25,000 companies. In the midst of such a growing market situation, GTI and Sumitomo Corporation will provide Japanese companies with the technology and evaluation techniques that GTI has acquired over the years as leaders in the oil and gas market. Sumitomo Corporation aims to make best use of its network to support Japanese companies in their endeavor to commercialize and expand into the American and global markets.

GTI has a history of over 70 years as an independent research laboratory, and has provided both public and private entities with technical solutions concerning aspects such as the production and processing of shale gas, transportation, or promoting its use as a cleaner energy source.  In the United States, where the shale gas production is expected to further increase, a growing number of new businesses making use of the economical natural gas energy are emerging. Some examples include converting diesel-burning engines to natural gas-burning engines, and infrastructure projects such as small- to mid-scale natural gas liquefaction plants and natural gas fueling stations.  GTI already has the latest technology to support such new businesses.

For Sumitomo Corporation, unconventional energy is positioned as one of its core strategic business areas. It became the first Asian company to acquire a shale gas reserve when it entered a development agreement with Carrizo Oil and Gas in the Barnett Basin. Soon after, in 2010, it acquired another project with Rex Energy in the Marcellus Shale, and in 2012, it entered into an agreement with Devon Energy to develop the tight oil shale in the Permian Basin. It is also advancing the Cove Point LNG export project with Dominion, with the aim to export American LNG to non-FTA countries such as Japan. Sumitomo Corporation aims to further solidify its presence in the industry in its other related businesses in Metals, Transportation and Construction Systems, and Infrastructure, by utilizing the customer and partner network it has built over the years, with the intention to further expand the unconventional energy business industry.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on SUMITOMO CORP
03:26p SUMITOMO : invests in baby and mom retail chain Bibomart
05/12 NIPPON STEEL & SUMITOMO METAL CORPOR : - Opening Ceremony for VAM BRN Commercial..
05/12 NIPPON STEEL & SUMITOMO METAL : Opening Ceremony for VAM BRN Commercial Operatio..
05/11 SUMITOMO : Opening Ceremony for VAM® BRN Commercial Operation in Brunei
05/11 ALAMEDA : Board pulls permit from Park Street business
05/10 SUMITOMO CORPORATION : - Notice Regarding Change in the Board of Directors
05/09 SUMITOMO : Acquisition of Sumitomo Precision Products shares and conclusion of c..
05/09 SUMITOMO : Acquisition of Sumitomo Precision Products shares and conclusion of c..
05/09 SUMITOMO : Notice Regarding Change in the Board of Directors
05/09 SUMITOMO : Notice Concerning Differences between Financial Results for the fisca..
More news
Sector news : Diversified Trading & Distributing
05/03 Glencore in talks to sell Peru, other mining royalties - sources
04/18 MITSUI : South32 scraps $200 million Australian coal acquisition from Peabody
04/05 MITSUI : BHP declares force majeure on cyclone-hit Australian coal exports
04/04 FTSE leads European peers as energy and industrials stocks gain
03/31 Samsung Group boss earned $1 million at flagship in first quarter, shows firs..
More sector news : Diversified Trading & Distributing
News from SeekingAlpha
2016 Sumitomo Corp. ADR 2017 Q2 - Results - Earnings Call Slides
Advertisement
Financials ( JPY)
Sales 2018 7 493 001 M
EBIT 2018 -
Net income 2018 207 542 M
Debt 2018 2 616 214 M
Yield 2018 3,46%
P/E ratio 2018 8,71
P/E ratio 2019 8,03
EV / Sales 2018 0,59x
EV / Sales 2019 0,57x
Capitalization 1 806 496 M
More Financials
Chart SUMITOMO CORP
Duration : Period :
Sumitomo Corp Technical Analysis Chart | 8053 | JP3404600003 | 4-Traders
Full-screen chart
Technical analysis trends SUMITOMO CORP
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 11
Average target price 1 502  JPY
Spread / Average Target 4,0%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Kuniharu Nakamura President & Representative Director
Kazuo Ohmori Chairman
Koichi Takahata CFO, Representative Director & Head-Accounting
Naoki Hidaka Representative Director, VP & Executive Officer
Hideki Iwasawa Representative Director & Head-Human Resources
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
SUMITOMO CORP3.89%16 273
MITSUBISHI CORP-9.46%32 421
MITSUI & CO LTD-6.23%24 396
ITOCHU CORP3.13%24 244
SAMSUNG C&T CORP--.--%22 197
TOYOTA TSUSHO CORP14.31%11 115
More Results