Sumitomo Chemical has revised its earnings forecast for the current fiscal year downward due to a slump in its pharmaceutical business and deteriorating global market conditions for petrochemical products, and has revealed that it expects a final loss of 245 billion yen. Did. The company's policy is to quickly rebuild its business performance.
On the 2nd, Sumitomo Chemical announced its group-wide financial results for the nine months from April to December last year, with sales of 1,806.8 billion yen, a 19.9% decrease compared to the same period the previous year.
The final profit and loss was a deficit of 109.7 billion yen.
Furthermore, the company has revised its earnings forecast for the current fiscal year downward, and now expects its final profit and loss to expand from a deficit of 95 billion yen to a deficit of 245 billion yen.
In addition to the slump in the pharmaceutical business, we have been affected by the deterioration in the global market for petrochemical products, and this is the second downward revision to our earnings forecast since November last year.
In an online press conference, President Keiichi Iwata said, ``We take this crisis situation very seriously.We believe it is necessary to realize a V-shaped recovery in our business performance as soon as possible.'' The company plans to quickly rebuild its business performance by withdrawing from existing businesses and selling assets.