Sumitomo Chemical Group reports ¥395.3 billion year on year sales increase

Tokyo, Japan – For the nine months ended December 31, 2021, the Sumitomo Chemical Group reported consolidated sales revenue of ¥2,037.9 billion, an increase of ¥395.3 billion year on year, core operating income* of ¥205.7 billion, operating income of ¥197.9 billion, and net income attributable to owners of the parent of ¥133.7 billion, all higher than the results from the same period of the previous year.

Market prices of petrochemical products, synthetic resins and synthetic fibers increased due to a recovery in demand and an increase in raw material prices. Margins also improved. Therefore, sales revenue increased by ¥216.6 billion, to ¥625.0 billion, and core operating income recovered by ¥79.9 billion, to ¥52.0 billion, compared with the same period of the previous year, when the shipment volumes decreased due to the periodic shutdown maintenance for Rabigh Refining and Petrochemical Company, our equity method investee, and due to the impact of the COVID-19 pandemic, mainly on demand for automotive use.