Sumitomo Chemical books 45bn yen gain from Asia divestiture

Sumitomo Chemical Co has completed the divestiture of its pharmaceutical subsidiary's Asian business operations through a strategic restructuring deal with Marubeni Global Pharma Inc.

The company established a new subsidiary to house the Asian operations of Sumitomo Pharma Co, then sold 60% of the new entity to Marubeni. The transaction removes Sumitomo Pharma (China) Co and Sumitomo Pharma Asia Pacific Pte from consolidated reporting.

Sumitomo Chemical expects to record approximately 45.0 billion yen in other operating income from the deal in its second quarter results for the fiscal year ending March 2026.