Sumitomo warns of further write-down on energy, iron ore assets

TOKYO: Japanese trading house Sumitomo Corp warned on Tuesday that it may take additional impairment losses on its energy and metal assets due to slumping oil and iron ore prices, although its annual profit forecast remained unchanged.

The warning came after its surprise forecast in September last year that it would write-down about 240 billion yen ($2.05 billion) in the value of its assets, mainly in energy and metals.