Sumitomo Forestry shares fall 10.25% after profit forecast cut
Sumitomo Forestry shares fell as much as 10.25%, or ¥140.50, to ¥1,229. The company announced on November 5 that it expected consolidated recurring profit for the year ending December 2026 to fall 47% from a year earlier to ¥92.5 billion, cutting its previous forecast by ¥22.5 billion.