Sumitomo Australia Pty Ltd., a subsidiary of Sumitomo Corp., is undergoing a strategic transformation to align with global economic trends and Australia’s evolving economic and geopolitical landscape.
Under Managing Director Cash Ishikawa, who took the helm in May 2020, the company is shifting its focus from traditional sectors to key areas such as energy transition, real estate and innovation.
“We’ve had to rethink our core businesses,” Ishikawa shared, noting the shift from traditional energy investments, such as coal, toward sustainable solutions. “As global concerns over climate change intensify, it’s become clear we must evolve. This transformation is vital to our long-term viability.”
A key component of Sumitomo’s future growth is hydrogen energy. Its hydrogen ecosystem project in Gladstone, Queensland, aims to harness solar power to produce hydrogen for use in the manufacture of “green aluminum.”
“Australia’s natural resources and commitment to sustainability make it ideal for large-scale hydrogen projects,” Ishikawa said. This initiative supports Sumitomo’s sustainability goals and Australia’s push toward net-zero emissions.
Sumitomo has also entered into a real estate partnership forming a 50/50 joint venture with Mirvac Ltd. to develop the Highforest Project, a luxury residential development in Sydney’s West Pennant Hills. “We are leveraging Japan’s industry strengths to capitalize on Australia’s growing market,” Ishikawa noted. “The country’s projected population growth makes this an attractive investment.”
As global concerns over climate change intensify, it’s become clear we must evolve. This transformation is vital to our long-term viability.
Cash Ishikawa, Managing Director of Sumitomo Australia Pty Ltd.
Highlighting the strategic importance of Japan-Australia relations, Ishikawa underscores Japan’s role in supporting Australia’s industrial growth.
Sumitomo is also exporting Australian innovations in artificial intelligence and digital technologies to Japan to modernize systems there. “Australia has unique technology we want to bring to Japan,” he said.
As Australia navigates a rapidly changing economy, Sumitomo is positioning itself as a pivotal force in shaping a sustainable and prosperous future. With a strategic focus on energy, real estate and innovative solutions, Sumitomo is set to contribute meaningfully to Australia’s long-term development.
