Sumitomo Chemical: F3/26 Results: Return to Growth Trajectory

研报英文原文证据摘录

Sumitomo Chemical: F3/26 Results: Return to Growth Trajectory

Update

May 14, 2026 09:53 AM GMT

Morgan Stanley MUFG Securities Co., Ltd.+MSumitomo Chemical (4005) | Japan Takato Watabe

Equity Analyst

F3/26 Results: Return to Takato.Watabe@morganstanleymufg.comRyoichi Watanabe +81 3 6836-5436

Ryoichi.Watanabe@morganstanleymufg.com +81 3 6836-8929

Growth Trajectory Kayoko Shoji

Research Associate

Kayoko.Shoji@morganstanleymufg.com +81 3 6836-5437

Reaction to earnings Kano Fujita

Unchanged Modest upside Modest revision higher Kano.Fujita@morganstanleymufg.com +81 3 6836-8932

Impact to our thesis Financial results versus consensus Direction of next 12-month

consensus EPS

Sumitomo Chemical (4005.T, 4005 JT)

Source: Company data, Morgan Stanley Research

Petrochemical Majors | Japan

Stock Rating Overweight

Key Takeaways Industry View Attractive

Price target ¥850

F3/26 core OP exceeded both guidance and our forecast. Shr price, close (May 14, 2026) ¥604

Mkt cap, curr, basic (bn) ¥986.8

F3/27 core OP guidance calls for profit growth despite factoring in the worsening Avg daily trading value (bn) ¥5.5

Middle East situation.

Related Reports:

The share price rose sharply after the results announcement, and we expect

Sumitomo Chemical: F3/26 Results 1st

further upside.

Impression: Profit Growth Guidance a Surprise

(14 May 2026)We see further upside to F3/27 guidance: Sumitomo Chemical released results at

Petrochemical Majors: Jan-Mar Results Preview:1:30pm on May 14 and held an online business strategy briefing at 4:30pm. As

Potential Guidance Surprises (27 Apr 2026)already reported, F3/26 core OP topped both company guidance and our forecast,

Sumitomo Chemical: Rabigh F12/26 1Q Earnings:so solid results. While ICT-related profits declined, improvements in pharma and