Mixed first-half results for Sumitomo Chemical
Higher sales of Sumitomo Chemical's insecticidal mosquito net, Olyset, boosted the revenues of its health and crop sciences division by 7.2% to ¥149,503 million ($1,314 million at the current rate) in the six months ended September 30th 2014. However, sales of crop protection products in Japan and overseas decreased due to the effects of the consumption tax increase in Japan and unseasonable weather in South America. Operating income for the division fell by 1.4% to ¥11,413 million ($100 million). Sumitomo's agrochemical sales rose by 28% to ¥199,977 ($1,758 million) in the year ended March 31st 2014. That represented 61.2% of the health and crop sciences division's revenues.