Sumitomo - A Global Conglomerate Driving InnovationsSumitomo Corporation is a leading multinational organization headquartered in Tokyo, Japan, with over 70,000 employees across 80 countries worldwide. The company is primarily engaged in the business of trading, investment and providing a range of services in various sectors such as metals, infrastructure, chemicals, energy, and more. Since its inception in 1919, Sumitomo Corporation has been striving to create new value, while contributing to society's sustainable development.
History and Milestones of Sumitomo CorporationThe origin of Sumitomo Corporation goes back to the 17th century when the Sumitomo family established their copper refinery in Kyoto, Japan. The company's modern-day avatar came into being after a merger between two Sumitomo family companies in 1919. Since then, the company has remained at the forefront of technological innovation and has grown into a formidable global conglomerate. Sumitomo Corporation has achieved several milestones in its history, such as:
The acquisition of the Brazilian mining company, Minera??o Usiminas S.A., in 2019
The establishment of Sumitomo Corporation Africa PTY Limited in 2018
The acquisition of CCI Thermal Technologies Inc. in 2016
The acquisition of Edgen Group Inc., a Houston-based energy and steel products distributor in 2013
Business Portfolio of Sumitomo CorporationSumitomo Corporation's business portfolio spans across various sectors and comprises of several business units, such as:
Metal Products Business Unit
Transportation & Construction Systems Business Unit
Environment and Infrastructure Business Unit
Lifestyle Business Unit
Energy Business Unit
Chemicals Business Unit
Housing Business Unit
ICT & Media Business Unit
Each business unit operates independently and is responsible for driving growth and profitability in their respective sectors while adhering to Sumitomo's overall corporate strategy.
Sumitomo Corporation's Commitment to Sustainable DevelopmentSumitomo Corporation is committed to achieving sustainable growth while contributing to the betterment of society. The company has formulated a comprehensive sustainability strategy that focuses on three main areas: economic, environmental, and social sustainability.
Sumitomo Corporation is committed to minimizing its environmental footprint by investing in renewable energy, reducing GHG emissions, and adopting eco-friendly practices across its business units.
The company is also actively engaged in various social initiatives, such as disaster relief and support for vulnerable communities. Sumitomo Corporation has established several foundations and charitable organizations that work towards promoting education, culture, and sports with a focus on fostering international goodwill and cultural exchange.
ConclusionSumitomo Corporation has come a long way since its inception and has transformed into a global conglomerate with interests in various sectors. The company's commitment to innovation, sustainability, and social responsibility has helped it carve a niche for itself in the business world. Sumitomo Corporation's continued focus on these values is set to drive the company towards a brighter future.