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

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Courtesy: ZDHC

Textiles | On 10th Dec 2016

China Textile Information Centre joins ZDHC programme

China Textile Information Centre (CTIC), a state-owned research...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Giorgio Mantovani
Corman S.p.A

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search