# Sumitomo Metal cuts profit guidance 25% on nickel impairment

*A 42.55 billion yen write-down on Philippine operations lowers annual net profit to 161 billion yen, testing margins at Panasonic Energy's primary cathode supplier.*

**Published:** November 15, 2026  
**By:** Ryo Matsuda  
**Section:** Energy & Critical Minerals — Japan  
**Format:** Breaking  
**Confidence:** medium  
**Source:** https://eastasiabrief.com/energy-minerals/sumitomo-metal-cuts-profit-guidance-25-nickel-impairment-1452  
**Publisher:** East Asia Brief (https://eastasiabrief.com/)

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## What to know

- SMM absorbs a 42.55 billion yen nickel impairment while cutting full-year net profit 25.5%
- Coral Bay HPAL facility in the Philippines will halt operations between fiscal 2028 and 2030
- Share buyback worth up to 30 billion yen runs through Jan. 29, 2027

![A worker in a lab coat examines a tray of granular battery material beside large industrial processing tanks in a refining facility. (AI-generated image)](https://eastasiabrief.com/media/2026-11-15-05e8a5e645fa.webp)
*A worker in a lab coat examines a tray of granular battery material beside large industrial processing tanks in a refining facility. (AI-generated image)*

Sumitomo Metal Mining Co., Ltd. detailed its battery-materials supply strategy on Nov. 15, 2026, outlining refining margins and cathode shipments after absorbing a 42.55 billion yen ($270 million) impairment charge.

The write-down forced the Tokyo-based refiner to lower its full-year consolidated net profit guidance by 25.5% to 161 billion yen ($1.02 billion), down 8.7% from the previous fiscal year.

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Cite as: East Asia Brief, "Sumitomo Metal cuts profit guidance 25% on nickel impairment," November 15, 2026. https://eastasiabrief.com/energy-minerals/sumitomo-metal-cuts-profit-guidance-25-nickel-impairment-1452