Sumitomo Corp CEO - Expect Limited Direct Impact From U.S. Tariffs On Our Operations, But Will Have Indirect Impact
May 1 (Reuters) - Sumitomo Corp 8053.T:
SUMITOMO CORP CEO: EXPECT LIMITED DIRECT IMPACT FROM U.S. TARIFFS ON OUR OPERATIONS, BUT WILL HAVE INDIRECT IMPACT
SUMITOMO CORP CEO: IMPACT FROM U.S. TARIFFS ON OUR EARNINGS WILL BE LIMITED TO A MAXIMUM OF 40 BILLION YEN FOR FY2025/26
SUMITOMO CORP CEO: HOPING THAT CAREFUL TARIFF NEGOTIATIONS BETWEEN JAPAN AND U.S. GOVERNMENTS WILL CONTRIBUTE TO STABILISING EXCHANGE RATE
SUMITOMO CORP CFO: IMPACT OF U.S. TARIFFS COULD INCLUDE ECONOMIC SLOWDOWN, WEAKENED DEMAND, AND FALLING COMMODITY PRICES INCLUDING NICKEL PRICES
SUMITOMO CORP CEO: WE ARE FACING THE RISK OF A GLOBAL RECESSION UNLIKE ANYTHING WE HAVE EXPERIENCED BEFORE
SUMITOMO CORP CEO: POSSIBLE TO SEE A FRAGMENTATION OF THE GLOBAL SUPPLY CHAIN DUE TO TARIFF WAR
SUMITOMO CORP CEO: WE HAVE TAKEN INTO ACCOUNT THE GLOBAL RECESSION THAT MIGHT OCCUR FROM SUCH A SITUATION IN OUR EARNINGS FORECAST
Source text: [ID:]
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