Sumitomo H1 Net Profit Down 15%

Sumitomo SSUMY reported a 15% drop in its net profit for the fiscal first half ended September. Sumitomo's net profit for the period fell to Y129.44 billion, from Y151.50 billion, in the year-ago period. Its operating profit declined to Y77.13 billion, from Y136.64 billion. Sumitomo's revenue dropped 10.4% to Y3.737 trillion from Y4.172 trillion. Sumitomo shares closed at $13.43 on Friday.