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Sumitomo (TSE:8053) Is Up 17.9% After Launching New Buyback, Split And Medium-Term Plan
Sumitomo Corporation recently reported full-year results to March 31, 2026, with revenue of ¥7,337,259 million and net income of ¥600,334 million, while also approving a share repurchase program of up to 22,000,000 shares, or 1.84% of outstanding stock, worth ¥80,000 million through March 31, 2027.
Alongside higher earnings, Sumitomo outlined a Medium-Term Management Plan 2026, raised its dividend, and announced a four-for-one share split, underscoring an emphasis on capital efficiency and...