Latest news with #SumitomoChemical
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Business Standard
5 days ago
- Business
- Business Standard
Here's why Sumitomo Chemical India share price was under pressure today
Sumitomo Chemical India share price: Sumitomo Chemical India shares dropped up to 5.95 per cent to hit an intraday low of ₹503.15 per share on Tuesday, May 27, 2025. At 11:35 AM, Sumitomo Chemical India shares were trading 5.16 per cent lower at ₹507.40. By comparison, BSE Sensex was trading 0.14 per cent higher at 82,290.70 level. Why did Sumitomo Chemical share price drop in trade? Sumitomo Chemical India shares were under pressure due to weak March quarter of financial year 2025 (Q4FY25) results. The company's profit dropped 9.3 per cent year-on-year (Y-o-Y) to ₹100 crore in the March quarter of FY25, from ₹110 crore a year ago. The revenue from operations, or topline, rose marginally (0.8 per cent Y-o-Y) to ₹679.4 crore in Q4FY25, from ₹674.2 crore in Q4FY24. At the operating level, earnings before interest, tax, depreciation and amortisation (Ebitda) fell 14.7 per cent year-on-year to ₹119.5 crore in Q4FY25, from ₹140.1 crore in Q4FY24. Sumitomo Chemical dividend Sumitomo Chemical India's Board of Directors has declared dividend for FY25 of ₹1.20 per equity share on 49,91,45,736 equity shares of ₹10 each which is subject to the approval of the members in the Annual General Meeting and will be paid on or after August 11, 2025. About Sumitomo Chemical Sumitomo Chemical, established in 1913 in Japan, began with a mission to address environmental challenges by transforming sulfur dioxide emissions from copper mining into fertilizers. Over the past century, the company has grown into a global chemical powerhouse, leveraging its strong commitment to research, innovation, and sustainability. With a workforce of over 34,000 employees and more than 100 subsidiaries and affiliates worldwide, Sumitomo Chemical delivers high-performance solutions across a broad spectrum of industries. The company's diverse portfolio spans petrochemicals, IT-related chemicals, health and crop science products, pharmaceuticals, and advanced materials for energy and mobility. Its operations are organised into key segments including Agro & Life Solutions, Essential Chemicals & Plastics, ICT & Mobility Solutions, and Energy & Functional Materials. In India, its subsidiary, Sumitomo Chemical India Limited (SCIL), plays a critical role in delivering crop protection, animal nutrition, and environmental health products tailored to the local market.
Korea Herald
5 days ago
- Automotive
- Korea Herald
Tesla's US battery ramp-up opens doors for Korean material suppliers
Korean firms gain ground with cost-efficient materials, reduced reliance on China As electric vehicle juggernaut Tesla urges longtime battery partner Panasonic to accelerate production in the US, Korean are poised to take the spotlight as key material suppliers — leveraging their cost competitiveness and reduced reliance on the Chinese supply chain. According to The Financial Times, Tesla has recently pushed Panasonic to fast-track the two companies' joint battery cell manufacturing plant, which has been under construction since 2022. The $4 billion project, initially scheduled to begin operations by March this year, has been rescheduled for as early as July due to unexpected setbacks, including cost increases. The plant's annual capacity is projected at 30 gigawatt-hours — enough to power approximately 300,000 vehicles — and is expected to increase Tesla's US production capacity by 60 percent by March 2027. 'As we've been told by our customer to get Kansas moving quickly, we're hurrying to do so … There are risks, but we are planning on robust demand for batteries from our main customer as of now,' said Panasonic CEO Yuki Kusumi in an interview with Tokyo-based media, as quoted by the Financial Times. Korean suppliers rise as EV battery formulas evolve Even if Panasonic begins operations at its Kansas plant this year, concerns remain over a potential production gap in new battery materials, stemming from Tesla's cost-cutting strategy amid slowing EV demand, according to sources. Reportedly, one of Panasonic's main material suppliers, Japan's Sumitomo Chemical, has announced plans to shift its cathode material chemistry from nickel, cobalt and aluminum (NCA) to nickel, cobalt and manganese (NCM) starting next year, citing customer demand. 'There's a reason why Korean battery makers have preferred NCM over NCA. Manganese is significantly cheaper than aluminum — almost incomparable,' said Yang Min-ho, an energy engineering professor at Dankook University. 'From a research perspective, it has also shown better structural stability in tri-component lithium-ion batteries. Although NCA initially outperformed NCM, companies have since improved capacity by increasing nickel content.' While Korea's LG Chem, Posco Future M and L&F Co. are known to supply NCA cathode materials for Tesla through Panasonic, their deeper focus on NCM gives them a competitive edge over Sumitomo Chemical. 'We believe our company's diversified product portfolio — ranging from NCM and nickel cobalt manganese aluminum (NCMA) to NCA — could appeal to Panasonic,' said an industry source who requested anonymity. Industry insiders also point out that Korean firms may benefit from distancing themselves from the Chinese graphite supply chain. Despite pushback from Tesla and Panasonic, the US Commerce Department on May 20 issued a preliminary ruling to impose tariffs of up to 720 percent on certain Chinese graphite imports, citing unfair government subsidies. In response, Posco Future M last month announced a 396.1 billion won ($289 million) investment in spherical graphite production — a key precursor for anodes — to reduce its reliance on Chinese raw materials. Legacy carmakers chip away at Tesla's lead Tesla, still the leading EV maker in the US, is under pressure as it gradually loses market dominance — a position it established with the launch of its Model S sedan in 2012. According to Cox Automotive, Tesla's US market share fell from 55 percent in 2023 to 48.7 percent in 2024 — the first time it has dropped below 50 percent. Sales declined about 6 percent year-on-year to 633,762 units. Meanwhile, legacy automakers such as General Motors, Ford and Hyundai Motor Group are expanding their presence in the US EV market. Hyundai Motor and Kia collectively sold 123,000 battery electric vehicles in the US in 2024, securing a 10 percent market share, according to data from the Korea Automobile & Mobility Association. Tesla is racing to expand its US battery production to capitalize on subsidies and tax credits offered under the Inflation Reduction Act while the window remains open. Last Thursday, the US House of Representatives passed a bill moving up the expiration date for the $7,500 consumer EV subsidy by six years to Dec. 31, 2026. It also shortened the Advanced Manufacturing Production Tax Credit period by one year, now set to end in 2031. These changes increase the urgency for companies to localize their manufacturing and supply chains within the US clean energy sector.
Zawya
15-04-2025
- Business
- Zawya
India-Japan synergy: Driving innovation and sustainability in chemical industry
India-Japan partnership has been strengthening across various industries, and the chemical sector is no exception. With both countries sharing common interests in sustainability, innovation, and economic growth, collaboration in the chemical sector presents numerous opportunities. As global leaders in the chemical industry, India and Japan leverage each other's strengths to enhance production capabilities, improve research and development (R&D), and create a more sustainable and technologically advanced chemical sector. India's chemical industry is one of the largest in the world, contributing significantly to the country's GDP. It encompasses various segments, including petrochemicals, specialty chemicals, agrochemicals, and pharmaceuticals. With abundant raw materials, skilled labour, and a growing domestic market, India has positioned itself as a key global player. Japan, on the other hand, is known for its advanced chemical manufacturing capabilities, cutting-edge R&D, and stringent environmental standards. Japanese companies excel in producing high-performance chemicals, specialty chemicals, and electronic materials. The country's chemical sector is driven by technology and innovation, making it an ideal partner for India, which seeks to enhance its manufacturing prowess. Japan's expertise in advanced chemical manufacturing and India's strong talent pool create a promising opportunity for technology transfer and joint R&D initiatives. Indian companies can benefit from Japanese innovations in eco-friendly chemicals, nanotechnology, and high-performance materials, while Japanese firms can utilise India's cost-effective R&D ecosystem to develop new products. Several Japanese chemical giants, such as Sumitomo Chemical, Mitsui Chemicals, and Toray Industries, have already invested in India's chemical sector. Strengthening these investments through joint ventures and collaborations will help both countries achieve economies of scale and enhance competitiveness in global markets. Indian firms can also explore opportunities to invest in Japanese chemical plants, particularly in niche sectors like biodegradable plastics and green chemistry. Both India and Japan are committed to reducing their carbon footprint and promoting sustainability in the chemical sector. Japanese firms have pioneered sustainable chemical production processes, including the development of biodegradable materials, energy-efficient production techniques, and waste recycling solutions. India, with its strong government push toward sustainability, can adopt and scale these innovations to meet its environmental goals. The pharmaceutical sector is one of the most promising areas of collaboration between India and Japan. India is a global leader in generic drug manufacturing, while Japan has a strong pharmaceutical R&D base. By working together, the two nations can enhance drug development, streamline supply chains, and improve healthcare access in both countries. Additionally, specialty chemicals used in electronics, automotive, and coatings industries present another avenue for collaboration. Strengthening supply chain integration between India and Japan can enhance trade and investment opportunities. Japan is a major importer of raw materials and intermediates from India, and improved logistics and trade agreements can further boost this exchange. Additionally, the two countries can work on reducing trade barriers and aligning regulatory frameworks to facilitate smoother business operations. India and Japan have signed several agreements and initiatives to boost industrial collaboration, including the India-Japan Comprehensive Economic Partnership Agreement (CEPA) and the Japan-India Industrial Competitiveness Partnership. These agreements provide incentives for joint ventures, ease trade regulations, and promote technology exchange in key industries, including chemicals. The Indian government's 'Make in India' initiative and Japan's 'Society 5.0' vision also align well, fostering a collaborative environment for the chemical industry. Special economic zones (SEZs), industrial corridors, and research partnerships further strengthen the bilateral relationship. While India and Japan have significant potential for collaboration, some challenges need to be addressed. Differences in regulatory standards, cultural business practices, and market access barriers are some of the major challenges in the partnership. However, continuous dialogue, policy alignment, and industry-led initiatives can help overcome these hurdles. Looking ahead, the India-Japan synergy in the chemical sector is set to grow stronger. By leveraging complementary strengths, focusing on sustainability, and fostering innovation, both nations can emerge as global leaders in chemical manufacturing and trade. The partnership between India and Japan in the chemical sector holds immense potential for driving economic growth, technological advancements, and sustainability. With strategic collaborations in R&D, investment, green chemistry, and pharmaceuticals, the two nations can create a robust and future-ready chemical industry. Strengthening bilateral trade, reducing regulatory hurdles, and fostering innovation will be key to unlocking new opportunities and ensuring long-term success in this dynamic sector. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
15-04-2025
- Business
- Times of Oman
India-Japan synergy: Driving innovation and sustainability in chemical industry
India-Japan partnership has been strengthening across various industries, and the chemical sector is no exception. With both countries sharing common interests in sustainability, innovation, and economic growth, collaboration in the chemical sector presents numerous opportunities. As global leaders in the chemical industry, India and Japan leverage each other's strengths to enhance production capabilities, improve research and development (R&D), and create a more sustainable and technologically advanced chemical sector. India's chemical industry is one of the largest in the world, contributing significantly to the country's GDP. It encompasses various segments, including petrochemicals, specialty chemicals, agrochemicals, and pharmaceuticals. With abundant raw materials, skilled labour, and a growing domestic market, India has positioned itself as a key global player. Japan, on the other hand, is known for its advanced chemical manufacturing capabilities, cutting-edge R&D, and stringent environmental standards. Japanese companies excel in producing high-performance chemicals, specialty chemicals, and electronic materials. The country's chemical sector is driven by technology and innovation, making it an ideal partner for India, which seeks to enhance its manufacturing prowess. Japan's expertise in advanced chemical manufacturing and India's strong talent pool create a promising opportunity for technology transfer and joint R&D initiatives. Indian companies can benefit from Japanese innovations in eco-friendly chemicals, nanotechnology, and high-performance materials, while Japanese firms can utilise India's cost-effective R&D ecosystem to develop new products. Several Japanese chemical giants, such as Sumitomo Chemical, Mitsui Chemicals, and Toray Industries, have already invested in India's chemical sector. Strengthening these investments through joint ventures and collaborations will help both countries achieve economies of scale and enhance competitiveness in global markets. Indian firms can also explore opportunities to invest in Japanese chemical plants, particularly in niche sectors like biodegradable plastics and green chemistry. Both India and Japan are committed to reducing their carbon footprint and promoting sustainability in the chemical sector. Japanese firms have pioneered sustainable chemical production processes, including the development of biodegradable materials, energy-efficient production techniques, and waste recycling solutions. India, with its strong government push toward sustainability, can adopt and scale these innovations to meet its environmental goals. The pharmaceutical sector is one of the most promising areas of collaboration between India and Japan. India is a global leader in generic drug manufacturing, while Japan has a strong pharmaceutical R&D base. By working together, the two nations can enhance drug development, streamline supply chains, and improve healthcare access in both countries. Additionally, specialty chemicals used in electronics, automotive, and coatings industries present another avenue for collaboration. Strengthening supply chain integration between India and Japan can enhance trade and investment opportunities. Japan is a major importer of raw materials and intermediates from India, and improved logistics and trade agreements can further boost this exchange. Additionally, the two countries can work on reducing trade barriers and aligning regulatory frameworks to facilitate smoother business operations. India and Japan have signed several agreements and initiatives to boost industrial collaboration, including the India-Japan Comprehensive Economic Partnership Agreement (CEPA) and the Japan-India Industrial Competitiveness Partnership. These agreements provide incentives for joint ventures, ease trade regulations, and promote technology exchange in key industries, including chemicals. The Indian government's 'Make in India' initiative and Japan's 'Society 5.0' vision also align well, fostering a collaborative environment for the chemical industry. Special economic zones (SEZs), industrial corridors, and research partnerships further strengthen the bilateral relationship. While India and Japan have significant potential for collaboration, some challenges need to be addressed. Differences in regulatory standards, cultural business practices, and market access barriers are some of the major challenges in the partnership. However, continuous dialogue, policy alignment, and industry-led initiatives can help overcome these hurdles. Looking ahead, the India-Japan synergy in the chemical sector is set to grow stronger. By leveraging complementary strengths, focusing on sustainability, and fostering innovation, both nations can emerge as global leaders in chemical manufacturing and trade. The partnership between India and Japan in the chemical sector holds immense potential for driving economic growth, technological advancements, and sustainability. With strategic collaborations in R&D, investment, green chemistry, and pharmaceuticals, the two nations can create a robust and future-ready chemical industry. Strengthening bilateral trade, reducing regulatory hurdles, and fostering innovation will be key to unlocking new opportunities and ensuring long-term success in this dynamic sector.
Reuters
01-04-2025
- Business
- Reuters
Japan's Maruzen Petrochemical to shut ethylene unit in Chiba
TOKYO, April 1 (Reuters) - Japan's Maruzen Petrochemical, a unit of Cosmo Energy Holdings (5021.T), opens new tab, will shut its ethylene unit in Chiba in the 2026/27 financial year and consolidate production at Keiyo Ethylene, its joint venture with Sumitomo Chemical (4005.T), opens new tab, the companies said on Tuesday. The move aims to enhance the utilization rate and competitiveness of Keiyo Ethylene, which is 55% owned by Maruzen Petrochemical and 45% by Sumitomo Chemical, the three companies said in a statement. Japanese ethylene plants have been struggling with low operating rates due to global oversupply driven by large-scale capacity expansions in China, as well as declining domestic demand. The industry also faces increasing pressure to achieve net-zero carbon emissions through energy transportation. Against this backdrop, Maruzen Petrochemical and Sumitomo Chemical decided to optimize their ethylene production in the Chiba area, near Tokyo, to cut costs and maintain competitiveness, they said. Maruzen's Chiba ethylene unit, which started operations in 1969, has an annual production capacity of 525,000 metric tons. Keiyo Ethylene, launched in 1994, has a capacity of 768,000 tons per year. Japanese oil refiner Idemitsu Kosan and Mitsui Chemicals plan to consolidate their ethylene complexes in Chiba, they said last year. Ethylene is a petrochemical that is used to produce plastics such as polyethylene for items such as plastic bags and containers.
