Jun. 11, 2019
Sales revenue of Sumitomo Chemical's Health and Crop Sciences segment for fiscal year 2018, ended March 31, 2019, fell by ¥1.6 billion (0.5%) compared with the previous fiscal year, to ¥338.1 billion. Core operating income declined by ¥24.2 billion, to ¥19.7 billion, compared with the previous fiscal year, due to factors including margin erosion in methionine and reduced shipments of crop protection chemicals.
Shipments of crop protection chemicals decreased due to factors such as frequent extreme weather in North America toward the end of this fiscal year, and revenue from feed additive methionine fell due to declining market conditions. Moreover, while there was an increase in sales due to the recent consolidation of agriculture-related retail businesses in Japan, depreciation of emerging market currencies had a negative effect on sales from subsidiaries outside Japan in yen terms.