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Sumitomo Chemical’s Health & Crop Sciences segment sales up 8% in H1 FY 2017
Nov. 8, 2017
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JapanSales of Sumitomo Chemical’s Health & Crop Sciences division which includes agrochemicals and feed additives increased by 7.6% to ¥135.5 billion in the first half year of fiscal 2017 ended September 30, 2017, with a 10.8% increase in sales volume and a 6.5% decrease in sales price. Operating income declined by ¥7.2 billion, to ¥5.6 billion.
Sales of the feed additive methionine dropped due to lower market prices. Shipments of crop protection chemicals declined in North America. Meanwhile, the acquisition of an Indian agrochemicals company in the previous fiscal year boosted sales.
The company estimates the net sales of this segment for the full year to be 355 billion yen, and operating income to be 50 billion yen.
Source: Sumitomo Chemical news release
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