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Sumitomo Chemical revises financial forecast for FY'13
31
Oct '12
Sumitomo Chemical Co. Ltd. has announced variances between its consolidated financial forecast for the half-year ended September 30, 2012, previously announced on July 31, 2012, and the actual results for the same period announced. The Company also announced that it has revised its consolidated financial forecast for the full-year ending March 31, 2013 and projected dividend.

In the second half of the fiscal year, with an expectation of continued economic stagnation in Europe and a continuation of the economic slowdown in emerging market countries, because both the improvement in margins in the Basic Chemicals segment and the recovery in demand for products in the Petrochemicals & Plastics and IT-related Chemicals segments are anticipated to be below previous expectations, sales and operating income are expected to be lower than previously forecast.

The Company places a high priority on shareholder return and makes it a policy to maintain a stable dividend while comprehensively taking into consideration financial results for each fiscal year, its dividend payout ratio and the amount of retained earnings necessary for business development.

Amid growing uncertainty over the world economy, the Company previously projected a year-end dividend of ¥3 per share, but no projection was made this time because of the revisions to the earnings forecast for fiscal 2012. The Company will announce its year-end dividend projection after full consideration of its financial forecast for the second half of the current fiscal year and the next fiscal year that will end March 31, 2014.

Sumitomo Chemical Co. Ltd.

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