Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

News SummaryMost relevantAll newsSector news 

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
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
Latest news on SUMITOMO CORP
08/15 SUMITOMO CORPORATION : Group and US Hybrid Have High Hopes for Hydrogen-Powered ..
08/11 Sumitomo Corporation - Basic Agreement on Joint Investment in Automotive Forg..
08/11 SUMITOMO : SgurrEnergy backs Galloper deal
08/10 SUMITOMO : Basic Agreement on Joint Investment in Automotive Forged Parts Busine..
08/09 SUMITOMO : joins Macquarie in Galloper project
08/08 SUMITOMO CORPORATION : - Ambatovy Nickel Project in Madagascar to agree on Princ..
08/07 SUMITOMO : National tire chain to build store at old cycle store location
08/05 SUMITOMO : Ambatovy Nickel Project in Madagascar to agree on Principal Payment D..
08/02 SUMITOMO : Announces the Exercise Price of Stock Options
08/01 SUMITOMO : Notice Regarding Company Split (Simplified Absorption-type Company Sp..
More news
Sector news : Diversified Trading & Distributing
08/24DJBrazil Judge Authorizes Sale of Petrobras Unit
06/09 ESSENTRA : sees lower full-year adjusted operating profit
04/06 Chevron's $3 billion Asian geothermal assets to draw global suitors - sources
03/24 Japan's Mitsubishi to post first net loss on metals and energy slump
03/24DJMitsubishi Hit by Nearly $4 Billion in Commodities-Related Write-Downs
More sector news : Diversified Trading & Distributing
Financials ( JPY)
Sales 2017 7 275 891 M
EBIT 2017 -
Net income 2017 143 909 M
Debt 2017 2 740 783 M
Yield 2017 4,57%
P/E ratio 2017 9,63
P/E ratio 2018 8,32
EV / Sales 2017 0,56x
EV / Sales 2018 0,56x
Capitalization 1 369 410 M
More Financials
Duration : Period :
Sumitomo Corp Technical Analysis Chart | 8053 | JP3404600003 | 4-Traders
Full-screen chart
Technical analysis trends SUMITOMO CORP
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 12
Average target price 1 088  JPY
Spread / Average Target -0,64%
Consensus details
EPS Revisions
More Estimates Revisions
Kuniharu Nakamura President & Representative Director
Kazuo Ohmori Chairman
Hiroyuki Inohara Chief Financial Officer & Representative Director
Naoki Hidaka Representative Director, VP & Executive Officer
Michihiko Kanegae Representative Director, VP & Executive Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
SUMITOMO CORP-11.05%13 599
MITSUI & CO LTD-6.35%24 250
ITOCHU CORP-17.29%19 786
BUNZL PLC26.53%10 605
MARUBENI CORP-19.08%8 716
More Results