Sumitomo Chemical reported a sharp rise in first-quarter core operating income to 62.3 billion yen, up 34.7 billion yen year on year, marking its second-best Q1 on record. Consolidated sales revenue reached 578.2 billion yen, while net income attributable to owners of the parent swung to a profit of 40.8 billion yen from a loss a year earlier. The Essential and Green Materials segment drove the improvement with core operating income of 27.2 billion yen, up 32.7 billion yen, helped by better margins at Petro Rabigh and inventory valuation gains. Agro and Life Solutions also contributed, with core operating income rising 7.4 billion yen to 9.6 billion yen on steady crop protection shipments and improved feed additive margins. However, ICT and Mobility Solutions saw core operating income fall 5.3 billion yen to 13 billion yen due to lower polarizing film prices and the absence of a prior-year gain, while Advanced Medical Solutions posted a core operating loss of 1.9 billion yen. The company maintained its full-year forecast, citing uncertainty from Middle East turmoil, and kept its annual dividend forecast at 16 yen per share.
Sumitomo Chemical Co., Ltd.Q1 core operating income surged to ¥62.3B, net income swung to profit, driven by better margins and inventory gains.
Sumitomo Pharma Co.Ltd.