Sumitomo Chemical Co., Ltd. - Notice Concerning Finance Income
August 03, 2023 at 07:20 am EDT
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Sumitomo Chemical Co., Ltd. has recorded finance income for the first quarter fiscal year 2023 (April 1, 2023 to June 30, 2023) as follows.
Details of Finance Income
A foreign exchange gain of JPY33,388 million was recorded for the first quarter due to recent fluctuations in foreign exchange rates. This was mainly due to the valuation of assets denominated in foreign currencies.
Impact on Financial Results
With regard to the impact of the above finance income on the results of the Company operations, please refer to the 'Summary of Consolidated Financial Results for First Quarter Fiscal Year 2023' announced today.
Sumitomo Chemical Co Ltd is one of the Japanese largest chemical groups. The group is also manufacturing and marketing pharmaceutical products. Net sales break down by family of products as follows:
- petrochemical and plastic products (25.8%): ethylene, polyethylene, propylene, elastomers, agricultural films, etc.;
- pharmaceutical products (23.9%): ethic drugs, radiopharmaceutical products, etc.;
- telecommunication chemical products (18.9%): optic films, pigments, filters, etc.;
- agrochemical and fine chemistryproducts (18.5%): insecticides, herbicides, fertilizers, food additives, etc.;
- functional chemical products (10.7%): methanol, caustic soda, aluminum hydroxide, alumina, nitric acid, acrylonitrile, active pharmaceutical ingredients, polymeric additives, resorcine, colorants, etc.;
- other (2.2%).
Net sales break down geographically as follows: Japan (31.7%), China (19.2%), Asia (19.5%), North America (17.7%), Europe (4.2%) and other (7.7%).
SUMITOMO CHEMICAL CO., LTD. 