OREANDA-NEWS. Sumitomo Corporation announced its consolidated results for the nine-month period ended December 31, 2012, prepared on the basis of International Financial Reporting Standards (IFRS).

“Profit for the period attributable to owners of the parent” for the nine-month period ended December 31, 2012 was 188.6 billion yen, decreased by 30.5 billion yen from the same period of the previous fiscal year.

In the nine months under review, although there was extraordinary profit resulting from business reorganization, mineral resources businesses, which led the company results in the same period of the previous fiscal year, were affected by commodity prices decline.

Gross profit was 588.4 billion yen, a decrease of 107.1 billion yen from the same period of the previous fiscal year. The decrease includes the impact of Sumitomo Mitsui Auto Service Company, Limited and other subsidiaries becoming associated companies.

Share of profit of investments accounted for using the equity method decreased by 5.4 billion yen to 77.0 billion yen. This decline was mainly due to lower earnings of mineral resources businesses.