• Sumitomo average debt/equity ratio for 2023 was 0.57, a 17.39% decline from 2022.
• Sumitomo average debt/equity ratio for 2022 was 0.69, a 19.77% decline from 2021.
• Sumitomo average debt/equity ratio for 2021 was 0.86, a 7.53% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.