Japan-based Sumitomo Metal Mining Co. Ltd. (Sumitomo) has issued its financial results for the fiscal year 2009-10, reporting significant increases in its income.
According to the financial results, net income of the company in FY 2009-10 improved by 145.5 percent to Yen 54 billion ($583.5 million) from Yen 22 billion in the previous financial year.
The operating income of the company was Yen 66.3 billion ($687.2 million) in FY 2009-10, compared with an operating income of Yen 10.5 billion in the previous fiscal year, increasing by 529.1 percent.
Net sales in FY 2009-10 decreased by 8.6 percent year on year from Yen 793.8 billion to Yen 725.8 billion ($8.6 billion).