Sumitomo Chemical Co Ltd (FRA:SMM)
€ 2.16 0 (0%) Market Cap: 3.71 Bil Enterprise Value: 11.04 Bil PE Ratio: 0 PB Ratio: 0.69 GF Score: 70/100
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Sumitomo Chemical Co Ltd Performance Overview and Human Resources Strategy Briefing Transcript

Mar 07, 2023 / NTS GMT
Release Date Price: €3.32 (+1.22%)
Keiichi Iwata
Sumitomo Chemical Company, Limited - President & Representative Director

Hello, everyone. I'm Keiichi Iwata, President of Sumitomo Chemical. Welcome, and thank you for joining our Business Performance Overview and Human Resources Strategy Briefing. I want to express my deepest appreciation to our investors for your continued support for and understanding of our business.

Let's begin with Section 1, where I'm going to give you an overview of our business performance. And the very first thing I want to talk about is the business outlook and the revisions to our dividend forecast. Here is the business outlook for FY '22, which we announced back on February 1. The Q3 cumulative figure for core operating income have been fair to middling at JPY 142.2 billion, but the tide turned during the summer due to a major slump in market prices of petrochemicals and methionine, coupled with changing business environment surrounding display business and others, we now expect a quarterly loss for Q4.

The biggest factor going forward is how much China's economy will rebound after Beijing

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