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TYO:4005

8 stories mentioning TYO:4005Updated 2d ago

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Asia

Sumitomo Chemical Unit Rejects Gotham Report on AMCHEPRY

Sumitomo Chemical Company (TYO:4005) said its unit Sumitomo Pharma (TYO:4506) has confirmed the reliability of materials supporting its Amchepry drug, which secured conditional, time-limited approval from regulators, rejecting claims by Gotham City Research concerning the drug.The Tokyo-listed company said the drug was developed with Kyoto University and other institutions, and it is conducting a post-marketing clinical study to obtain full approval, according to a Tokyo Stock Exchange filing on Wednesday.The company said it will take appropriate action, including legal measures if necessary, against inaccurate or misleading information.

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Asia

Sumitomo Pharma Says No Accounting Misstatements Alleged in Report Confirmed

Sumitomo Chemical (TYO:4005) unit Sumitomo Pharma said that it has not confirmed allegations of financial statement misstatements and inappropriate accounting treatment, as claimed in a report published by Gotham City Research on Monday.The company said that the report reflected the independent views of its author and was not issued by the company, according to a Tuesday filing on the Tokyo Stock Exchange.The company said it currently has no plans to revise its previously disclosed financial statements, as it has not confirmed any of the alleged misstatements.

TYO:4005
Asia

Sumitomo Chemical Turns to Profit in Fiscal Q1

Sumitomo Chemical (TYO:4005) posted a year-over-year increase in net income attributable to owners of the parent to 40.8 billion yen for the first quarter ended June 30 from a loss of 4.52 billion yen.The Japanese chemical conglomerate's basic earnings per share came in at 24.70 yen, versus a loss per share of 2.76 yen a year ago, according to a Tokyo Stock Exchange filing on Tuesday.Sales revenue jumped 9.9% to 578.2 billion yen from 526.1 billion yen in the year-ago period.For the fiscal year ending March 31, 2027, the company forecasts an attributable profit of 70 billion yen, earnings per share of 42.40 yen, and sales revenue of 2.360 trillion yen.The company plans to pay a second-quarter and a year-end dividend of 8 yen per share each for the current fiscal year.

TYO:4005
Asia

Sumitomo Chemical Completes Share Exchange with Koei Chemical; Shares Down 7%

Sumitomo Chemical (TYO:4005) said it completed the reduction of its capital reserves by 2.4 billion yen simultaneously with its share exchange with Koei Chemical Co. (TYO:4367), transferring the amount to other capital surplus, according to a Monday company release.The capital reserve reduction is based on the fair value of about 10.6 million Sumitomo Chemical shares issued as consideration for the share exchange.Following the reduction, capital reserves remained unchanged.Shares of Sumitomo Chemical were down nearly 7% in recent trade.

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Asia

Update: Market Chatter: Sumitomo Chemical to Mass-Produce Halide Solid-State Battery Material by 2028

(Updates with response from the company)Sumitomo Chemical (TYO:4005) plans to mass-produce halide-based electrolyte material for solid-state EV batteries starting in fiscal 2028, Nikkei Asia reported on Tuesday.Developed with Kyoto and Tottori universities, the material matches the ionic conductivity of sulfide-based alternatives but avoids expensive humidity-controlled manufacturing, the news daily said.Its compatibility with existing lithium-ion production lines could accelerate adoption while lowering costs, the publication said.Sumitomo Chemical declined to comment to.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:4005
Asia

Market Chatter: Sumitomo Chemical to Mass-Produce Halide Solid-State Battery Material by 2028

Sumitomo Chemical (TYO:4005) plans to mass-produce halide-based electrolyte material for solid-state EV batteries starting in fiscal 2028, Nikkei Asia reported on Tuesday.Developed with Kyoto and Tottori universities, the material matches the ionic conductivity of sulfide-based alternatives but avoids expensive humidity-controlled manufacturing, the news daily said.Its compatibility with existing lithium-ion production lines could accelerate adoption while lowering costs, the publication said.Sumitomo Chemical did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:4005
Asia

Sumitomo Chemical's Polyolefin Business Integration with Prime Polymer Takes Effect July 1

Sumitomo Chemical (TYO:4005) said the business integration agreement, joint venture agreement, and first-phase absorption-type company split agreement to transfer its polypropylene and LLDPE businesses in Japan to Prime Polymer became effective on July 1.The transaction, part of a two-phase split, will see Sumitomo Chemical acquire a 20% stake in Prime Polymer, a joint venture of Mitsui Chemicals and Idemitsu Kosan, according to a Tokyo bourse filing on Wednesday.The first phase has now been completed, while the second phase is planned for April 1, 2027.

TYO:4005
Asia

Update: Seven Japanese Firms Secure Certification for India-Sourced Low-Carbon Ammonia Plan

A consortium of seven Japanese companies, led by IHI (TYO:7013), has received government certification for its plan to utilize low-carbon ammonia produced in India, under a price-gap support scheme tied to Japan's Hydrogen Society Promotion Act.IHI will offtake ammonia from a project with ACME Group in Odisha and supply it to the partners for use in power generation and industrial feedstock, aiming to cut environmental impact, according to a statement on Tuesday.IHI will also develop domestic infrastructure and use the fuel at its own facilities, while planning to expand the supply chain safely across sectors in Japan and abroad.The other Japanese companies are Kobe Steel (TYO:5406), Sumitomo Chemical (TYO:4005), Nippon Beet Sugar Manufacturing (TYO:2108), Hokkaido Electric Power (TYO:9509), Mitsubishi Gas Chemical (TYO:4182), and UBE (TYO:4208).Earlier, Nikkei Asia reported that Tokyo and New Delhi are set to finalize support for a massive green ammonia venture between IHI and ACME during Prime Minister Modi's meeting with his Japanese counterpart later this week.

Nikkei 225TYO:2108TYO:4005TYO:4182TYO:4208TYO:5406TYO:7013TYO:9509

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