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Sales of Sumitomo Chemical's Health & Crop Sciences up 32.7% in nine months FY2022
Feb. 2, 2023
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JapanOn February 1, 2023, Sumitomo Chemical reported consolidated financial results for the nine months ended December 31, 2022.
The financial results of Health & Crop Sciences segment for the nine-month period
Sales of crop protection products in South America increased significantly, and shipments in such markets as India performed well. Moreover, market prices of methionine (feed additives) increased from the same period in the previous year. The weak yen also had a positive effect on sales from subsidiaries outside of Japan when converted into yen.
As a result, sales revenue increased by ¥108.2 billion from the same period in the previous year, to ¥439.2 billion. Core operating income was ¥47.2 billion, an increase of ¥19.4 billion from the same period in the previous year, driven by the increase in sales and higher income from exports as a result of the weak yen, despite higher prices for raw materials.
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