Sumitomo Chemical Co (JP:4005) has released an update.
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Sumitomo Chemical Co., Ltd. is set to post an extraordinary loss of ¥32,075 million in the first quarter of FY2024 due to a significant drop in the market price of its investment in Rabigh Refining and Petrochemical Company. This loss will appear in the non-consolidated financial statements and is subject to change in subsequent quarters. However, this will not affect the company’s consolidated financial results.
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