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Sumitomo Chemical’s Health & Crop Sciences sales down 20% in H1 FY 2016
Oct. 31, 2016
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JapanSales of Sumitomo Chemical’s Health & Crop Sciences division which includes agrochemicals, feed additives and pharmaceutical chemicals dropped by 17.8% to ¥ 61.8 billion in the second quarter of fiscal year 2016 ended September 30, 2016. Operating income slipped by 65% to ¥3.8 billion.
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Results of operations of Sumitomo Chemical’s Health & Crop Sciences division (billion yen)
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||||||
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Q2 ended September 30
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Q2 FY 2016
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Q2 FY 2015
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H1 FY 2016
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H1 FY 2015
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H2 FY 2016
(estimated)
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FY 2016
(estimated)
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Net sales
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61.8
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75.2
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125.8
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157.3
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214.2
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340
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Operating income
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3.8
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10.9
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12.9
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27.1
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44.1
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57
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Sales for the half-year totaled ¥125.8 billion, a decrease of ¥31.4 billion (or 20%) compared with the same period of the previous fiscal year. Operating income declined by ¥14.2 billion (or 52%), to ¥12.9 billion.
The company explained that shipments overseas of crop protection chemicals declined and stronger yen both had negative effects on sales.
The sales of Health & Crop Sciences division for the second half year and full year are expected to reach ¥214.2 billion and ¥340 billion, respectively. Operating incomes for the second half year and full year are estimated at ¥44.1 billion and ¥57 billion.
Source: Sumitomo Chemical news release
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