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Sumitomo projects 240 bil. yen in losses

TOKYO, Japan - Sumitomo Corp. President and CEO Kuniharu Nakamura attends a press conference in Tokyo, Japan, on Sept. 29, 2014. The trading giant expects a total of 240 billion yen in losses in the year ending in March over a poorly performing oil development project in Texas and a fall in coal prices.

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Emperor, empress visit Kuniharu

TOKYO, Japan - Japanese Emperor Akihito and Empress Michiko pat a horse called Kuniharu at a stable of the Imperial Palace in Tokyo on March 24, 2010. The horse, which has taken part in equestrian art events and pulled coaches since it was born in 1988 at the Imperial Stock Farm, will be dedicated to Ise Shrine in Mie Prefecture. (Pool photo)

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Emperor, empress visit Kuniharu

TOKYO, Japan - Japanese Emperor Akihito (L) and Empress Michiko pat a horse called Kuniharu at a stable of the Imperial Palace in Tokyo on March 24, 2010. The horse, which has taken part in equestrian art events and pulled coaches since it was born in 1988 at the Imperial Stock Farm, will be dedicated to Ise Shrine in Mie Prefecture. (Pool photo)

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Sumitomo Corp. expects 1st net loss in 16 years for FY 2014

Sumitomo Corp. President Kuniharu Nakamura tells a press conference in Tokyo on March 25, 2015, the trading giant is expecting a group net loss of 85 billion yen ($710 million) in fiscal 2014, the first net loss in 16 years, due chiefly to failed energy development projects in the United States, Brazil and elsewhere. (Kyodo) ==Kyodo

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Emperor, empress visit Kuniharu

TOKYO, Japan - Japanese Emperor Akihito and Empress Michiko pat a horse called Kuniharu at a stable of the Imperial Palace in Tokyo on March 24, 2010. The horse, which has taken part in equestrian art events and pulled coaches since it was born in 1988 at the Imperial Stock Farm, will be dedicated to Ise Shrine in Mie Prefecture. (Pool photo) (Kyodo)

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Emperor, empress visit Kuniharu

TOKYO, Japan - Japanese Emperor Akihito (L) and Empress Michiko pat a horse called Kuniharu at a stable of the Imperial Palace in Tokyo on March 24, 2010. The horse, which has taken part in equestrian art events and pulled coaches since it was born in 1988 at the Imperial Stock Farm, will be dedicated to Ise Shrine in Mie Prefecture. (Pool photo) (Kyodo)

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Sumitomo projects 240 bil. yen in losses

TOKYO, Japan - Sumitomo Corp. President and CEO Kuniharu Nakamura attends a press conference in Tokyo, Japan, on Sept. 29, 2014. The trading giant expects a total of 240 billion yen in losses in the year ending in March over a poorly performing oil development project in Texas and a fall in coal prices. (Kyodo)