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AI Boom Drives Sumitomo Electric Profits

OSAKA, May 14 (News On Japan) - Sumitomo Electric Industries has posted record-high sales, operating profit, and net income for the most recent fiscal year, driven by surging demand related to artificial intelligence.

The Osaka-based cable and materials manufacturer benefited from strong momentum in the AI sector, which boosted orders for data transmission components and other infrastructure-related products. However, the company announced that it has lowered its operating profit forecast for the current fiscal year by 40 billion yen, citing concerns over the potential impact of tariffs associated with former U.S. President Donald Trump's trade policies. The adjustment reflects growing uncertainty surrounding U.S. economic policy and its repercussions for Japanese exporters, particularly in the Kansai region.

Source: Television OSAKA NEWS

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