Sumitomo Corp says may take added impairment losses on resource assets
TOKYO Feb 3 (Reuters) - Japanese trading house Sumitomo Corp said on Tuesday it may take additional impairment losses on its resource assets due to slumping prices of oil and metals.
The company may book an impairment loss on its stake in a North Sea oil project and its stake in a shale gas project in the United States, Chief Financial Officer Hiroyuki Inohara told an earnings press conference.
He also said the company may take an additional write-down on its stake in a U.S. shale oil project and a Brazilian iron ore project, from which it announced last September that it would suffer a hefty impairment loss.
He did not say how much the additional losses could be. (Reporting by Yuka Obayashi)
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