Jan. 10, 2024
Sale of UK Water Business
Sumitomo Corporation has set a goal and has been working to shift its business portfolio under its Medium-Term Management Plan “SHIFT 2023” and executing strategic asset replacement. Sumitomo Corporation will continue to reinforce and develop its primary earning pillars by leveraging its strengths utilizing management capital including operation know-how acquired from this UK water business.
The impact of this sale on the consolidated financial results for the fiscal year ending March 31, 2024 has been included in the consolidated earnings forecasts published on November 2, 2023.
【Profile of SESW】
|Sutton and East Surrey Water Ltd.
|1862 (privatized in 1989)
|London Road, Redhill, Surrey, UK
| Waterworks business
|835 square kilometers in southeast London
|Approximately 750,000 (270,000 households)