Sumitomo's localized production supports resilience in heavy industries

Sumitomo Corporation reported solid results despite challenges in markets like China and the U.S., along with operational issues in Madagascar. The company’s localized production of steel and aluminum helped mitigate these difficulties. The firm’s performance reflects resilience in its heavy industries, which faced various end-market pressures. This contrasts with previous struggles in similar sectors. Sumitomo's focus on local production may provide a buffer against global market fluctuations, marking a shift in strategy to enhance stability.