Japan: Sumitomo Corporation has agreed to transfer a 70% stake in its cement trading arm, SC Cement, to Sumitomo Osaka Cement. Sumitomo Corporation will retain the remaining 30% of SC Cement. Sumitomo Corporation expects to complete the transfer on 1 October 2026. Following the transfer, SC Cement will appoint its current president, Junji Kitao, as chair, and Takayuki Hisamitsu, currently Senior Managing Director at construction products trading company Sumice Kenzai, as president. Sumitomo Corporation intends the transfer to combine Sumitomo Osaka Cement's technological capabilities and business foundation with SC Cement's nationwide distribution network.
SC Cement distributes cement and related products and operates eight ready-mixed concrete plants across Japan.