Sumitomo Chemical’s Health & Crop Sciences sales down 20% in H1 FY 2016

Sales 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. 

 

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.