Home / Knowledge / News / Textiles / Sumitomo petrochemical sales up in nine months to Dec 31
Sumitomo petrochemical sales up in nine months to Dec 31
04
Feb '13
The Sumitomo Chemical Group’s sales for the nine months ended December 31, 2012, were ¥1,422.3 billion, a decrease of ¥21.6 billion compared with the same period of the previous fiscal year. Operating income was ¥36.8 billion and ordinary income was ¥37.6 billion, both representing year-on-year decreases. The Group posted a net loss of ¥40.7 billion, as an additional amount was recorded as a corporate tax adjustment due to a reversal of deferred tax assets.

The Sumitomo Chemical Group’s financial results by business segment for the nine-month period were as follows.

Basic Chemicals

Market prices fell for raw materials for synthetic fibers, and shipments of these products also decreased. Sales of methyl methacrylate and aluminum declined due to lower market prices. As a result, the segment’s sales decreased by ¥22.0 billion from the same period of the previous fiscal year, to ¥193.7 billion, and operating income declined by ¥15.6 billion, to a loss of ¥4.8 billion.

Petrochemicals & Plastics

Shipments from a sales subsidiary increased from the previous fiscal year’s level, which was low due to periodic maintenance shutdowns at the manufacturing plants of Petro Rabigh in Saudi Arabia. Sales of petrochemical products and synthetic resins decreased in Singapore and Japan due to lower market prices overseas and a decline in demand at home and abroad. As a result, the segment’s sales rose by ¥13.9 billion compared with the same period of the previous fiscal year, to ¥505.5 billion, but operating income decreased by ¥7.9 billion, to a loss of ¥1.7 billion.

IT-related Chemicals

Shipments of polarizing film used in liquid crystal displays (LCDs) rose, but shipments of color filters declined. Sales prices of both polarizing film and color filters fell. Meanwhile, a newly-built touchscreen panel facility in South Korea began full-fledged operation in this 3rd quarter. As a result, the segment’s sales increased by ¥0.2 billion compared with the same period of the previous fiscal year, to ¥221.3 billion, and operating income declined by ¥4.1 billion, to ¥7.2 billion.

Health & Crop Sciences

In the area of crop protection chemicals, shipments of herbicides remained strong in overseas markets, but sales declined due to seasonal effects caused by a change in an overseas subsidiary’s fiscal year to the end of March from the end of December. Shipments of pharmaceutical chemicals and the long-lasting insecticidal mosquito net, Olyset Net, decreased due to lower demand. Market prices of the feed additive methionine declined. As a result, the segment’s sales decreased by ¥20.6 billion compared with the same period of the previous fiscal year, to ¥170.2 billion, and operating income declined by ¥8.6 billion, to ¥8.9 billion.

Must ReadView All

Courtesy: Reliance Industries

Textiles | On 24th Apr 2017

Reliance’s FY17 revenue from petrochemicals up 12.2%

Increase in prices across polymers and polyester chain has...

Textiles | On 24th Apr 2017

India, Kazakhstan to increase cooperation in textiles

Indian and Kazakhstan are deliberating upon increasing cooperation in ...

Textiles | On 24th Apr 2017

GST reflects 'One nation, One aspiration' spirit: Modi

Prime Minister Narendra Modi has said that the Goods and Services Tax ...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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
April 2017

April 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