Home / Knowledge / News / Textiles / Sumitomo Chemical revises financial forecast for FY'13
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.


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search