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In 1970, Sumitomo established a second head office in Tokyo and merged with Sogo Boeki Co., Ltd. Sumitomo adopted its current English name, Sumitomo Corporation, in 1978. [8] The company's transactional volume increased by a factor of ten from 1955 to 1965, and again by a factor of ten from 1965 to 1975.
In 2005, the company was purchased by Sumitomo Corporation of America (SCOA), one of Japan's major integrated trading and investment business enterprises. In 2018, Michelin North America and Sumitomo Corporation of Americas combined their respective North American tire distribution and related service operations in a 50–50 joint venture ...
Sumitomo Corporation operates its New York Office, the headquarters of the corporation's United States operations, at 600 Third Avenue, 10016 in the Murray Hill neighborhood. [61] El Al's North American headquarters are in Midtown. [62] The Air France USA regional headquarters are in 125 West 55th Street in Midtown Manhattan.
In 2012, the company was acquired by the Japanese consortium of Sumitomo Mitsui Banking Corporation (SMBC), Sumitomo Mitsui Finance and Leasing Company Limited (SMFL) and Sumitomo Corporation for US$7.3 billion which was the largest ever global sale of an aircraft leasing business. The sale completed on 1 June 2012 and the business was renamed ...
SMBC has been an early adopter of AI in its banking operation. It is the first Japanese bank to use IBM Watson since 2014 to support operators at its call center. [8] AmiVoice, a voice recognition solution provided by SMBC, transforms inquiries into text on a real-time basis as a speech recognition system, while IBM Watson gives customers responses taken from service manuals and Q&As, thereby ...
January 3, 2018, Michelin North America and Sumitomo Corporation of America announced a definitive agreement to combine their respective North American replacement tire distribution and related service operations in a 50-50 joint venture.
SUMCO acquired Mitsubishi Polycrystalline Silicon America Corp and Semiconductor Polysilicon Business Of Mitsubishi from Mitsubishi Materials Corporation in May 2023. [ 12 ] [ 13 ] SUMCO is listed on the first section of the Tokyo Stock Exchange and is a constituent of the Nikkei 225 stock index .
The Sumitomo Group (Japanese: 住友グループ, Hepburn: Sumitomo Gurūpu) is a Japanese corporate group and keiretsu that traces its roots to the zaibatsu groups that were dissolved after World War II.