Sumitomo Chemical Reports Consolidated Financial Results For the Nine Months Ended December 31, 2006.Tokyo, Japan, Feb 2, 2007 - (JCN JCN Japan Corporate News JCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Sumitomo Chemical Company, Limited today announced that its consolidated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the nine months ended December 31, 2006 totaled JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1,296.2 billion ($10,882 million), an increase of 18.1% over the same period last year. Net income increased by 2.3% to JPY 72.9 billion ($612 million). Sales in the Basic Chemicals segment increased by JPY 50.1 billion over the same period last year to JPY 228.2 billion. The increase was due to a substantial increase in sales of aluminum because of a rise in the market price compared with last year as well as increased sales of caprolactam Caprolactam is an organic compound which is a cyclic amide (or lactam). The primary industrial use of caprolactam is as a monomer in the production of nylon. Most of the caprolactam is synthesised from cyclohexanoxime by a Beckmann rearrangement. , the raw material for synthetic textile fibers synthetic textile fibers have revolutionized the textile industry. Such artificial fibers are usually long-chain polymers, produced industrially by the condensation of many small units. , and methyl methacrylate methyl methacrylate (meth´il methak´rilāt), n an acrylic resin, CH2 = C(CH3)COOCH3, derived from methyl acrylic acid. Monomer is the single molecule and polymer is the polymerization product. (MMA (Microcomputer Managers Association, Inc.) A membership organization with chapters throughout the U.S. that was devoted to educating personnel responsible for personal computers. It disbanded in 1996. Mma - A fast Mathematica-like system, in Allegro CL by R. Fateman, 1991. ) because of production capacity expansions. The Petrochemicals & Plastics segment saw sales rise by JPY 46.3 billion over the same period last year to JPY 397.8 billion. Sales of styrene sty·rene n. A colorless oily liquid from which polystyrenes, plastics, and synthetic rubber are produced. Also called vinylbenzene. monomer monomer (mŏn`əmər): see polymer. monomer Molecule of any of a class of mostly organic compounds that can react with other molecules of the same or other compounds to form very large molecules (polymers). and other petrochemical products increased on the back of favorable market conditions that supported price increases taken in response to the rising prices of feedstocks such as naphtha naphtha (năp`thə, năf`–), term usually restricted to a class of colorless, volatile, flammable liquid hydrocarbon mixtures. . Firm sales of synthetic resins also contributed to the segment's improved year-on-year performance. Sales in the Fine Chemicals segment increased by JPY 11.6 billion year on year to JPY 69.0 billion. The increases were due to favorable sales of adhesives raw materials driven by firm demand as well as increased sales of pharmaceutical chemicals thanks to an increase in shipments of pharmaceutical intermediates. Sales in the IT-related Chemicals segment increased by JPY 39.0 billion over the same period last year to JPY 198.2 billion as a result of capacity expansions in Korea and Taiwan for polarizing film, a primary material for liquid crystal displays liquid crystal display (LCD) Optoelectronic device used in displays for watches, calculators, notebook computers, and other electronic devices. Current passed through specific portions of the liquid crystal solution causes the crystals to align, blocking the passage of light. . Sales in the Agricultural Chemicals segment increased by JPY 9.9 billion over the same period last year to JPY 138.2 billion. Feed additives saw an increase in sales owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de increases in selling prices reflecting a sharp rise in the price of raw materials and active marketing drives. Production capacity expansion contributed to an increase in OLYSET(R)NET shipments. Sales of agrochemicals declined because of weak demand in the Japanese market, while overseas sales of herbicides remained firm thanks to solid shipments. Sales in the Pharmaceuticals segment increased by JPY 8.9 billion over the previous year to JPY 175.5 billion. The Company's pharmaceutical subsidiary, Sumitomo Pharmaceuticals Co., Ltd., merged with Dainippon Pharmaceutical Co., Ltd. in October 2005 to form Dainippon Sumitomo Pharma Co., Ltd. (DSP (1) (Digital Signal Processor) A special-purpose CPU used for digital signal processing applications (see definition #2 below). It provides ultra-fast instruction sequences, such as shift and add, and multiply and add, which are commonly used in math-intensive ), increasing the scale of the segment's operations, and sales of DSP's four main products, Amlodin (therapeutic agent for hypertension and angina Angina Definition Angina is pain, "discomfort," or pressure localized in the chest that is caused by an insufficient supply of blood (ischemia) to the heart muscle. ), Gasmotin (gastroprokinetic), Meropen (carbapenem antibiotic), and Prorenal (vasodilator vasodilator /vaso·di·la·tor/ (-di-la´ter) 1. causing dilatation of blood vessels. 2. a nerve or agent that does this. va·so·di·la·tor n. ) remained firm. Total operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. increased by JPY 17.0 billion to JPY 105.4 billion. Operating income in the Basic Chemicals segment increased by JPY 2.2 billion year on year to JPY 9.5 billion, and in the Petrochemicals & Plastics segment it increased by JPY 4.7 billion year on year to JPY 17.5 billion. Operating income in the Fine Chemicals segment increased by JPY 2.7 billion to JPY 10.0 billion, while in the IT-related Chemicals segment, it declined year on year by JPY 6.2 billion to JPY 8.6 billion because of decreasing selling prices. In the Agricultural Chemicals segment, operating income increased by JPY 3.8 billion to JPY 13.2 billion, and in the Pharmaceuticals segment it increased by JPY 8.3 billion to JPY 42.7 billion. Net income increased by JPY 1.6 billion to JPY 72.9 billion due mainly to an extraordinary gain on sale of investment securities, including shares of GlaxoSmithKline K.K., in addition to the growth of operating income. Summary of Consolidated Results
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I. Results of Operations
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9 months ended 9 months ended
Dec. 31, 2006 Dec. 31, 2005
(JPY Mil) (US$1,000)* u@u@(JPY Mil)
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Net Sales 1,296,206 10,882,428 1,097,844
Operating Income 105,404 884,930 88,411
Income before Income Taxes 140,567 1,180,144 127,176
and Minority Interestes
Net Income 72,914 612,157 71,301
Net Income/1000 Shares(y/$) 44,172 371 43,143
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II. Financial Position
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Total Assets 2,262,374 18,993,989 2,178,377
Total Net Assets 1,001,634 8,409,319 719,760
Book Value/1000 Shares(y/$) 464,830 3,903 435,510
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III. Results of Operations by Business Segment
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Net Sales
Basic Chemicals 228,195 1,915,834 178,126
Petrochemicals & Plastics 397,768 3,339,501 351,470
Fine Chemicals 68,962 578,977 57,313
IT-related Chemicals 198,213 1,664,117 159,185
Agricultural Chemicals 138,246 1,160,658 128,317
Pharmaceuticals 175,475 1,473,218 166,560
Others 89,347 750,122 56,873
--------- --------- ---------
1,296,206 10,882,428 1,097,844
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Operating Income
Basic Chemicals 9,501 79,767 7,254
Petrochemicals & Plastics 17,483 146,780 12,751
Fine Chemicals 9,984 83,822 7,253
IT-related Chemicals 8,590 72,118 14,826
Agricultural Chemicals 13,162 110,503 9,396
Pharmaceuticals 42,696 358,459 34,359
Others 4,912 41,239 2,647
Elimination (924) (7,758) (75)
--------- --------- ---------
105,404 884,930 88,411
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*U.S. dollar amounts are translated from yen, for convenience only,
at the rate of JPY 119.11= $1 prevailing on December 31, 2006.
About Sumitomo Chemical Co. Limited Sumitomo Chemical (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :4005) is one of Japan's leading chemical companies, offering a diverse range of products in the fields of basic chemicals, petrochemicals, fine chemicals, IT-related chemicals, agricultural chemicals, and pharmaceuticals. While expanding business worldwide and aggressively pursuing cutting-edge R&D, we continually strive to contribute to the sustainable development Sustainable development is a socio-ecological process characterized by the fulfilment of human needs while maintaining the quality of the natural environment indefinitely. The linkage between environment and development was globally recognized in 1980, when the International Union of society through our Responsible Care activities. For more informaion, please visit www.sumitomo-chem.co.jp. Source: Sumitomo Chemical Co. Limited Contact: Sumitomo Chemical Co., Ltd. Corporate Communications Dept. Tel: +81-3-5543-5500 Fax: +81-3-5543-5901 Copyright [c] 2007 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K. |
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