Sumitomo petrochemical sales up in nine months to Dec 31

In Japan, shipment of Metgluco (biguanide oral hypoglycemic) increased greatly and shipments of Avapro (therapeutic agent for hypertension), Lonasen (atypical antipsychotic) and Trerief (therapeutic agent for Parkinson’s disease) rose. But overall sales declined because of the significant impact of Japanese National Health Insurance drug price revisions. In North America, shipments of Xopenex (short-acting beta-agonist) decreased as its exclusivity expired, but overall sales rose thanks to gradually increasing sales of Latuda (atypical antipsychotic) and a receipt of milestone payments of licensing fees. As a result, the segment’s sales increased by ¥4.6 billion compared with the same period of the previous fiscal year, to ¥292.4 billion, and operating income rose by ¥14.0 billion, to ¥37.3 billion.

Others

In addition to the above five segments, the Sumitomo Chemical Group engages in supplying electrical power and steam, providing services for the design, engineering, and construction management of chemical plants, providing transport and warehousing, and conducting materials and environmental analysis. The segment’s sales increased by ¥2.2 billion compared with the same period of the previous fiscal year, to ¥39.2 billion, and operating income rose by ¥1.0 billion, to ¥5.8 billion.

The Company has revised its consolidated financial forecast for fiscal 2012, previously announced on October 31, 2012. The forecast has been revised downward to sales of ¥1,970.0 billion, operating income of ¥50.0 billion, ordinary income of ¥45.0 billion, and a net loss of ¥50.0 billion. The Company regrets that it will not pay a year-end dividend as it is expected to post a large net loss for the full year. As a result, the Company’s annual dividend will be ¥6 per share for the current fiscal year. 

Sumitomo