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Sumitomo spins off its ship trading business

Effective April 1 next year Japanese trading house giant Sumitomo Corporation is spinning out its ship trading business to a 100% owned subsidiary, Sumisho Marine.  Sumisho Marine staff will move to a new office in Tokyo when the company split takes place next year.  Explaining the rationale for the corporate carve-up, Sumitomo said in a …

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Effective April 1 next year Japanese trading house giant Sumitomo Corporation is spinning out its ship trading business to a 100% owned subsidiary, Sumisho Marine.  Sumisho Marine staff will move to a new office in Tokyo when the company split takes place next year.  Explaining the rationale for the corporate carve-up, Sumitomo said in a …

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