Latest news with #Sumitomo
Yahoo
12 hours ago
- Business
- Yahoo
Sumitomo Corporation Invests in Ursa Space to Accelerate Global Growth and Expand into Japan
ITHACA, N.Y., Aug. 20, 2025 /PRNewswire/ -- Ursa Space Systems, a leading provider of satellite-based analytic solutions, today announced a strategic investment from Sumitomo Corporation of Americas, the largest subsidiary of Sumitomo Corporation which is one of Japan's largest integrated trading and investment conglomerates. This investment marks a significant milestone in the company's expansion and strengthens its ability to serve customers across Asia, particularly in the Japanese market. As a global leader in geospatial AI solutions, Ursa Space delivers insights derived from the world's most comprehensive virtual constellation of commercial Earth observation data. The company's next-generation geospatial platform provides rapid, scalable, and automated remote sensing solutions to decision-makers across the commercial sector. "Partnering with Sumitomo as we expand into Japan positions us strongly for success," said Adam Maher, CEO of Ursa Space Systems. "We're thrilled by Sumitomo's investment and the trust they've placed in our vision. This partnership will enable us to bring the power of geospatial solutions to a wider audience and accelerate our mission to deliver insights at unmatched speed and scale." "We very much appreciate this opportunity to invest in and embark on a journey with Ursa Space Systems, one of the leading geospatial intelligence companies to offer AI-enabled user- friendly solution to the Japanese market," said Randy Yoshimura, SVP & General Manager of Sumitomo Corporation of Americas' Aerospace, Defense & Technology Group. Ursa Space's solutions are used to detect real-time changes in the physical world through multi-modal satellite imagery and data fusion, enabling customers to make confident, data-driven decisions. The company's subscription and custom monitoring services overcome traditional limitations of geography, weather, and political boundaries. With this new round of funding, Ursa Space will grow its capabilities, expand its reach into Asia, and further enhance its platform to meet the demands of a global customer base. The revolutionary orchestration capabilities of the company's platform represent a paradigm shift from image-first to indicator-first analysis. The simple user experience breaks down a complicated process that can take weeks into one that takes minutes. It provides analysts and operators with timely, easily accessible, and relevant commercial satellite solutions. Sumitomo joins existing investors in Ursa Space, which includes Dorilton Capital and RRE Ventures, among others. About Ursa Space Systems Ursa Space Systems builds the software and AI agents that guide the acquisition, analysis, and integration of satellite and geospatial data into customer workflows, delivering valuable insights for commodity markets. By leveraging satellite data and advanced analytics, Ursa Space provides fast, actionable information to a range of industries, including finance and energy. About Sumitomo Corporation Sumitomo Corporation (TYO: 8053) is an integrated trading and business investment company with a strong global network comprising 129 offices in 66 countries and regions. The Sumitomo Corporation Group consists of approximately 900 companies and 80,000 employees on a consolidated basis. The Group's business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of "Enriching lives and the world," based on Sumitomo's business philosophy passed down for over 400 years. View original content to download multimedia: SOURCE Ursa Space Systems
CBC
08-08-2025
- Business
- CBC
Yukon court reinstates miner's lien against Japanese company that bought Minto mine's copper
A company left unpaid by Minto Metals Corp. has won its case in the Yukon Court of Appeal. It reverses an earlier decision from the Yukon Supreme Court, which declared a miner's lien filed by Brad Paddison Contracting (BP Contracting) invalid. Court of Appeal Justice Leonard Marchand ruled that the B.C.-based mining contractor has a valid claim against Japanese company Sumitomo, the company that bought Minto mine's copper. The ruling means that Sumitomo is now responsible for paying BP Contracting. Minto Metals Corp. was indebted to the two companies involved in the case when it abandoned the Minto mine in May 2023. The mine is about 240 kilometres northwest of Whitehorse and was purchased by the Selkirk First Nation earlier this year. BP Contracting served the Minto mine in 2022. It wasn't paid for the work, so the company filed a miner's lien to the tune of $400,000 – which Minto ignored. The lien was outstanding when the mine closed. It was later adjusted to approximately $200,000. Shortly afterward, Sumitomo bought about $50 million worth of copper concentrate between December 2022 and the mine's closure five months later. In August 2023, BP Contracting amended its petition to seek relief from Sumitomo. Yukon Supreme Court heard in 2023 that Sumitomo didn't know it would inherit the lien. The court ruled in 2023 that BP Contracting didn't provide sufficient information on its claim. The company's claim only listed the mineral claims and leases held by Minto Metals, and didn't specify the copper concentrate. The 2023 decision declared the miner's lien against Sumitomo invalid. In its appeal argument, BP Contracting said it wasn't required to list minerals specifically in its claim. In his decision, Marchand agrees with BP Contracting. He says more intensive reporting requirements would "create an impractical and burdensome process for potential lien claimants that would undermine the [Miners Lien Act]." Marchand says the Miners Lien Act exists to protect the businesses that keep the mining industry running. He says it would undermine the purpose of the act if liens became invalid after assets changed hands.
Malay Mail
30-07-2025
- Business
- Malay Mail
Abang Jo says Sarawak to co-develop Kalimantan hydropower plan as Indonesia shifts capital
KUCHING, July 30 — Sarawak, through its utility company Sarawak Energy Berhad, has entered into an agreement with PT Adaro Energy Indonesia to jointly develop hydropower projects along the Kayan River in Indonesia's North Kalimantan province, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg. He said the collaboration was formalised during his official working visit to Jakarta on Tuesday, where he accompanied Prime Minister Datuk Seri Anwar Ibrahim for the 13th Malaysia-Indonesia Annual Consultation. Highlighting the significance of the cross-border cooperation, Abang Johari stressed the need for Sarawakian engineers to work closely with their Indonesian counterparts. 'Sarawak needs more engineers there to collaborate with engineers from Indonesia. This means we will be working beyond Sarawak's borders,' he said during the launch of the Special Financial Aid (BKK) for Sarawakian tertiary students in Kuala Lumpur today. He also revealed that Japanese firm Sumitomo has expressed strong interest in participating in Sarawak's hydrogen energy industry. According to him, this reflects Sarawak's growing prominence in strategic green energy sectors. He called on Sarawakian youths to prepare for global opportunities in the emerging green economy, particularly in areas such as renewable energy and hydrogen. — The Borneo Post
Time of India
30-07-2025
- Automotive
- Time of India
Mahindra & Mahindra moves closer to full control of SML Isuzu
Mahindra & Mahindra Ltd, an automobile manufacturing firm, has taken a significant step forward in consolidating its control over SML Isuzu , a Punjab-based commercial vehicle manufacturer , by executing amended agreements with Sumitomo Corporation and Isuzu Motors on July 29. The revisions refine terms related to key managerial appointments, parts procurement, and the renaming of the target company, stated Mahindra's regulatory filings. In April, Mahindra announced its plan to acquire a 58.96 per cent stake in SML Isuzu — 43.96 per cent from Sumitomo and 15 per cent from Isuzu — through separate share purchase agreements. Additionally, the company launched an open offer for a further 26 per cent stake at ₹1,554.60 per share. In the latest development, Mahindra, Sumitomo and SML have agreed to changes that include the appointment of a Mahindra nominee as a key managerial personnel (KMP) at SML on the deal's closing date. The amendments also modify the timelines and process for changing the company's name, and address the delivery schedule of critical parts currently supplied by Sumitomo. A similar amendment agreement has been signed with Isuzu, also confirming the appointment of a Mahindra nominee as KMP and changes to the name change process. These steps follow regulatory clearance from the Competition Commission of India and bring Mahindra closer to completing its biggest integration move in the commercial vehicle space. The company has updated the exchanges and uploaded the full details on its corporate website.
Time Business News
13-07-2025
- Business
- Time Business News
Fusion Splicer Price in Pakistan: Buy Guide
When it comes to the telecommunications industry, especially in the field of fiber optics, having the right tools is essential. One such crucial tool is the fusion splicer. But where can you find a reliable and affordable fusion splicer in Pakistan? This article aims to guide you through the essentials of purchasing a fusion splicer, including understanding the market, knowing what to look for, and finding the best prices. Fusion splicers are devices used to join two optical fibers end-to-end using heat. The goal is to fuse the fibers in such a way that light passing through them is not scattered or reflected back by the splice, ensuring minimal signal loss. This process is vital for maintaining the integrity and performance of fiber optic communication systems. If you're involved in fiber optic installations, repairs, or maintenance, a fusion splicer is a tool you can't do without. It helps ensure high-quality connections, which are crucial for network reliability. The precision and efficiency provided by fusion splicers make them indispensable in both small and large-scale fiber optic projects. The market for fusion splicers in Pakistan is growing rapidly, driven by increasing demand for high-speed internet and telecommunications services. As more companies invest in expanding their fiber optic networks, the need for reliable splicing equipment becomes even more pronounced. Several brands are leading the fusion splicer market in Pakistan. Companies like Inno, Fujikura, Sumitomo, and DVP offer a range of products catering to different needs and budgets. Each brand has its own set of features and advantages, making it important to choose a splicer that fits your specific requirements. Before purchasing a fusion splicer, there are several factors you should consider to ensure you get the best product for your needs. Fusion splicers come in a wide range of prices. The Fusion Splicer Price in Pakistan can vary significantly based on the brand, model, and features. It's important to set a budget and look for options within that range. While it's tempting to opt for the cheapest model, remember that investing in quality equipment can save you money in the long run by reducing the need for repairs and replacements. Different models offer various features such as automated splicing, touch-screen interfaces, and data storage capabilities. Consider what features are essential for your work. For instance, if you often work in dimly lit environments, a splicer with a backlit screen might be beneficial. If your work requires you to move between sites frequently, consider a compact and lightweight model. Additionally, ensure that the splicer is durable and can withstand the wear and tear of daily use, especially if you work in challenging environments. Here are some popular models available in the Pakistani market: The Inno Fusion Splicer is well-regarded for its affordability and reliability. It's a great option for those looking for a balance between cost and performance. The Inno Fusion Splicer Price in Pakistan is competitive, making it a popular choice among local technicians. Fujikura is a well-known brand in the fusion splicer market, and the FSM-70S is one of their flagship models. It offers advanced features such as automatic wind protection and dual heater clamps, making it suitable for high-volume splicing tasks. Known for its speed and precision, the Sumitomo T-72C is another excellent choice. It's equipped with a user-friendly interface and offers consistent performance, even in challenging conditions. The best place to purchase a fusion splicer is from an authorized dealer. These dealers offer genuine products along with warranty and after-sales support, which is crucial for such a significant investment. You can find authorized dealers in major cities like Karachi, Lahore, and Islamabad. Alternatively, you can explore online marketplaces. Websites like OLX and Daraz offer a range of options, but it's important to verify the seller's credibility and the product's authenticity before making a purchase. Attending industry trade shows and exhibitions can also be a great way to find fusion splicers. These events often feature demonstrations from manufacturers and provide an opportunity to ask questions and see the equipment in action. Choosing the right fusion splicer is crucial for the success of your fiber optic projects. By understanding the market, considering your needs, and exploring your purchasing options, you can find a fusion splicer that fits your budget and requirements. Whether you choose the affordable DVP 740 Fusion Splicer or a high-end model from Fujikura, Inno, or Sumitomo, make sure to purchase from a reliable source to ensure you get the best value for your investment. By staying informed and making a well-researched decision, you can ensure seamless and efficient fiber optic splicing, contributing to the overall success of your telecommunications endeavors in Pakistan. TIME BUSINESS NEWS
