Key Developments: Sumitomo Chemical Co Ltd (4005.T)

4005.T on Tokyo Stock Exchange

18 Dec 2014
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Latest Key Developments (Source: Significant Developments)

Sumitomo Chemical Co Ltd raises consolidated mid-year outlook for FY 2015
Tuesday, 21 Oct 2014 02:00am EDT 

Sumitomo Chemical Co Ltd:Says the company raised the consolidated mid-year outlook for the FY ending March 2015.Revenue forecast increased to 1,128,000 million yen from 1,110,000 million yen.Operating profit forecast increased to 36,000 million yen from 35,000 million yen.Ordinary profit forecast increased to 52,000 million yen from 45,000 million yen.Net profit forecast increased to 22,000 million yen from 10,000 million yen.Earnings per share forecast increased to 13.46 yen from 6.12 yen.Comments that increased Shipment in basic chemical and petrochemical business, depreciation of Japanese yen and selling of asset and securities are the main reasons for the forecast.  Full Article

R&I affirms Sumitomo Chemical Co Ltd's rating at "A-" and announces stable outlook
Tuesday, 30 Sep 2014 02:00am EDT 

Sumitomo Chemical Co Ltd:Rating and Investment Information, Inc. (R&I) affirmed the company's rating at "A-".Rating outlook stable.  Full Article

Sumitomo Chemical Co Ltd announces changes of chairman and CEO
Monday, 12 May 2014 02:30am EDT 

Sumitomo Chemical Co Ltd:Appoints Osamu Ishitobi, current vice chairman as chief executive officer and chairman to replace Hiromasa Yonekura.  Full Article

Sumitomo Chemical Co Ltd to sell stake in AstraZeneca K.K.
Friday, 28 Feb 2014 01:00am EST 

Sumitomo Chemical Co Ltd:To sell its holding 20 pct stake in AstraZeneca K.K., an Osaka-based company engaged in development, manufacturing and sale of medical products, to AstraZeneca UK LIMITED.To holding no stake in AstraZeneca after the selling.  Full Article

Sumitomo Chemical Co Ltd to acquire stake in South Korea-based company from Samsung Electronics Co Ltd
Friday, 29 Nov 2013 01:00am EST 

Sumitomo Chemical Co Ltd and Samsung Electronics Co Ltd:Says Sumitomo Chemical Co Ltd to acquire 30.1 percent stake in a South Korea-based company engaged in sapphire board business, from Samsung Electronics Co Ltd.Says Sumitomo Chemical to increase stake in the target company from 50.0 percent (11,000,000 shares) to 80.1 pct (17,622,000 shares).Says transaction price is confidential.Says transaction to be complete on Dec. 6.  Full Article

Sumitomo Chemical Co Ltd to acquire entire stake in Nihon Oxirane Co.
Tuesday, 26 Nov 2013 07:00pm EST 

Sumitomo Chemical Co Ltd:Says reached an agreement with Lyondell Centennial Corp. (LyondellBasell) to acquire LyondellBasell’s entire equity holding in Nihon Oxirane Co (NOC).Says NOC is a joint venture between the two companies currently owned 40 percent by LyondellBasell and 60 percent by Sumitomo Chemical.Says NOC will become a wholly owned subsidiary of Sumitomo Chemical upon completion of equity transfer in December.Says decision to discontinue NOC’s manufacture and sale of styrene monomer (SM), propylene oxide (PO) and propylene glycol (PG) by the end of May 2015.Transaction price is not disclosed.  Full Article

Sumitomo Chemical Co Ltd Amends Consolidated Mid-year Outlook for FY 2014
Wednesday, 30 Oct 2013 02:00am EDT 

Sumitomo Chemical Co Ltd announced that it has lowered its consolidated mid-year outlook for revenue from JPY 1,150,000 million to JPY 1,050,000 million, but raised the outlook for operating profit from JPY 35,000 million to JPY 46,000 million, ordinary profit from JPY 25,000 million to JPY 44,000 million, net profit from JPY 10,000 million to JPY 12,000 million and earning per share from JPY 6.12 to JPY 7.34, for the fiscal year ending March 2014. The Company lowered the revenue outlook due to the decreased sales, and raised the profit outlook due to the decreased marketing cost, the improved investment profit and exchange profit.  Full Article

R&I Affirms Sumitomo Chemical Co Ltd's Rating at "A-"; Rating Outlook Stable
Thursday, 3 Oct 2013 02:00am EDT 

Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on Sumitomo Chemical Co Ltd at "A-". The rating outlook is stable.  Full Article

JCR Affirms Rating on Sumitomo Chemical Co Ltd at "A+"; Rating Outlook Stable-Reuters
Monday, 30 Sep 2013 08:00pm EDT 

Reuters reported that Japan Credit Rating Agency, Ltd. (JCR) has affirmed the rating on Sumitomo Chemical Co Ltd at "A+". The rating outlook has been changed from negative to stable.  Full Article

Sumitomo Chemical Co Ltd to Integrate Pesticide Business in US-Nikkei
Monday, 12 Aug 2013 06:47am EDT 

Nikkei reported that Sumitomo Chemical Co Ltd will integrate the pesticide business in an United States-based sub-subsidiary to a subsidiary in the United States, McLaughlin Gomley King Company, in September 2013.  Full Article

Saudi Aramco, Sumitomo Chemical invite banks to back JV plant expansion

KHOBAR, Saudi Arabia, Sept 10 - Saudi Arabia's PetroRabigh said on Wednesday its founding shareholders had formally invited banks to provide financing for the 32 billion riyal ($8.5 billion) expansion of its petrochemicals complex in the kingdom.

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