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Sumitomo Chemical Co ( (JP:4005) ) has issued an announcement.
Sumitomo Chemical has agreed to tender its 45.16% stake in Shinto Paint Co., Ltd. to Dai Nippon Toryo Co., Ltd. This decision comes as part of Sumitomo’s strategic review to optimize its business portfolio amid a maturing Japanese paint market. By transferring ownership to Dai Nippon Toryo, Shinto Paint is expected to benefit from increased sales opportunities, cost reductions, and enhanced productivity, aligning with Sumitomo’s broader restructuring efforts to improve profitability and competitiveness.
More about Sumitomo Chemical Co
Sumitomo Chemical Co., Ltd. operates primarily in the chemical industry, focusing on the production and sale of chemicals, including paints, pigments, and synthetic oils. The company has a significant market presence in Japan and engages in strategic alliances to enhance its operational capabilities and market reach.
YTD Price Performance: 2.97%
Average Trading Volume: 7,517
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $3.71B
For detailed information about 4005 stock, go to TipRanks’ Stock Analysis page.
