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Sales of Sumitomo Chemical’s Health & Crop Sciences segment flat in H1 FY 2018
Nov. 6, 2018
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JapanThe sales revenue of Sumitomo Chemical Group’s Health & Crop Sciences segment was ¥138.1 billion (USD 1.22 billion at the current rate) in the half-year ended September 30, 2018, essentially unchanged from the same period of the previous fiscal year. Because of such factors as margin erosion from an increase in raw material prices, core operating income declined by ¥5.9 billion (USD 52.1 million), to ¥2.5 billion (USD 22.1 million) compared with the same period of the previous fiscal year.
Shipments of agrochemicals increased, primarily in regions outside Japan, such as South America and Asia. On the other hand, currency depreciation of emerging markets had a negative effect on sales from overseas subsidiaries in yen terms.
Source: Sumitomo Chemical news release
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