Sumitomo earnings soar on demand for semiconductor, display materials, crop protection products

摘要

Sumitomo Chemical reports full-year 2020 net earnings of ￥46.0 billion ($420 million), up 48% year on year (YOY), on sales that rose 2% to ￥2.28 trillion, with improved performances by its IT-related chemicals and health and crop science segments only partially ofset by a loss in its petrochemicals and plastics business. Operating income was almost fat YOY at ￥137.1 billion. The results for the year ended 31 March are in line with guidance issued by the company on 26 April.