Sumitomo Chemical Co (JP:4005) has released an update.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Sumitomo Chemical Co., Ltd. has resolved to sell a portion of its shares in associate Sumitomo Bakelite to GIC Private Limited, which will result in recording other operating income and extraordinary income in its financial statements. The sale is part of Sumitomo Chemical’s performance improvement measures to ensure a V-shaped recovery and strengthen its financial base for future structural reforms. Despite the transfer, Sumitomo Chemical will maintain its business relationship and partnership with Sumitomo Bakelite.
For further insights into JP:4005 stock, check out TipRanks’ Stock Analysis page.