in this issue
People & Business :: Earnings/Finance
Sumitomo Chemical reports huge net loss
12:02 PM MDT | May 15, 2013 | Deepti Ramesh
Sumitomo Chemical reports a net loss of ¥51 billion ($498 million) in the fiscal year ended 31 March compared with a net profit ¥5.58 billion in the previous fiscal year due to large extraordinary losses and an additional corporate tax adjustment with a reversal of deferred tax assets, Sumitomo says. Full-year sales increased 0.2%, to ¥1.95 trillion. The business environment for Sumitomo was very tough during the fiscal year because of a sharp decline in demand in Asia and other overseas markets as well as margin erosion and other factors, the company...
This information is only available to Chemical Week subscribers.
Forgot your user ID or password?
Not an IHS Chemical Week member yet?
Here's why you should be:
100% Satisfaction Guarantee