;
Home / Knowledge / News / Textiles / Caprolactam & ACN sales up at Sumitomo Chemical
Caprolactam & ACN sales up at Sumitomo Chemical
08
Feb '08
Sumitomo Chemical reports consolidated financial results for the nine months ended December 31, 2007. During the 9 months ending December 31, Japan's economy continued its moderate growth supported by improved corporate income spurring increased capital expenditures as well as increased exports thanks to economic expansion in Asia, particularly China.

However, in addition to sustained high prices for crude oil from the latter half of the year, the risk of a slowdown in the US economy stemming from the sub-prime loan problem has heightened concerns about its possible effect on the global economy.

Under these circumstances, the Sumitomo Chemical Group posted sales for the 9 months ending December 31 of ¥1,391.0 billion, an increase of ¥94.8 billion over the previous year. Operating income was ¥75.9 billion, ordinary income was ¥85.5 billion, and net income was ¥40.5 billion, all of which represent a decrease compared with the previous year owing to increased raw materials costs as well as increased fixed costs such as depreciation costs and R&D expenditures.

The Company's third-quarter financial performance by segment is as follows. In the Basic Chemicals segment, sales for caprolactam and acrylonitrile, raw materials for synthetic textile fibers increased thanks to improved market conditions. Sales of methyl methacrylate and other products also saw a rise because of higher selling prices.

As a result, sales increased ¥5.8 billion over theprevious year to ¥234.0 billion, while operating income remained almost flat year on year at ¥9.6 billion because of increased raw material and fixed costs that offset improved margins for methyl methacrylate and other products on the back of a market rise.


Must ReadView All

Courtesy: Lululemon

Apparel/Garments | On 16th Dec 2018

Lululemon’s net revenue up 21% in Q3 2018

Lululemon Athletica Inc, a healthy lifestyle inspired athletic...

Courtesy: Walmart

Apparel/Garments | On 16th Dec 2018

Rakuten, Walmart start Walmart ecommerce store in Japan

Rakuten and Walmart have joined hands to start the first Walmart...

Courtesy: H&M

Apparel/Garments | On 16th Dec 2018

H&M Group's wage summit discusses fair wages

The textile and fashion industries were brought together by H&M Group ...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Prabu Mohanram, Balavigna Weaving Mills Pvt Ltd

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

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

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Liz Manning,

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

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

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

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

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

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

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

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

Jay Ramrakhiani, Occasions Elegance Wear

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

Leave your Comments


December 2018

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

news category


Related Categories:

Advanced Search