Sumitomo Bakelite raises dividend forecast on semiconductor demand

Sumitomo Bakelite reported Q1 revenue of 77.7bn yen, up 1.3% year-over-year, with business profit jumping 13.9% to 9bn yen. Growth was driven by strong semiconductor materials demand, particularly in China and AI-related applications, despite weakness in automotive components.

The company raised its annual dividend forecast for FY2025 to 105 yen per share, an increase of 10 yen from the previous year, reflecting confidence in its performance.