Sumitomo Chemical's profit fell sharply in the first half of the fiscal year

Recently, Sumitomo Chemical released financial report data showing that in the first half of the fiscal year from April 1, 2022 to September 30, 2022, the company achieved sales revenue of 1.
53 trillion yen, a year-on-year increase of 15.
3%; Core operating profit was 115.
6 billion yen, down 22.
3% y/y.
Operating profit was 60.
6 billion yen, down 58.
0% y/y.
Net income attributable to owners of the parent company decreased by 8.
8% y/y to JPY
81.
1 billion.

By product, basic chemicals sales revenue was 467.
3 billion yen, a year-on-year increase of 67.
8 billion yen; Core operating income was JPY 23.
3 billion, down JPY 18.
8 billion y/y
.
Energy and functional materials sales revenue was 173.
5 billion yen, a year-on-year increase of 25 billion yen; Core operating income was 13.
4 billion yen, up 900 million yen
y/y.
Sales of information electronic chemicals were 222.
2 billion yen, a year-on-year decrease of 5.
5 billion yen; Core operating income was JPY 26.
4 billion, down JPY 3.
1 billion y/y
.

Sumitomo Chemical has revised
its consolidated forecast for the fiscal year ending March 2023.
Sales revenue is expected to be 3.
18 trillion yen, an increase of 60 billion yen from the previous forecast, a year-on-year increase of 15.
0%; Core operating profit was 190 billion yen, down 10 billion yen, down 19.
1% year-on-year.
Operating profit was 115 billion yen, down 65 billion yen, down 46.
5% y/y.
Net income was 105 billion yen, down 20 billion yen, down 35.
2%
y/y.