MITUF - Sumitomo Chemicals' Non-Pharma Businesses Are Given Essentially No Value By Markets At Current Price
Sumitomo Chemicals, a company under the Sumitomo (OTCPK:SSUMF) umbrella, popped onto our radars due to its lingering near-March lows. Unlike other Japanese chemical companies that have seen recoveries like Asahi Kasei (OTCPK:AHKSF) and Mitsui Chemicals (OTCPK:MITUY), it has hardly recovered at all. This is despite the fact that they have more resilient specialty exposures and a robust pharmaceuticals business through Sumitomo Dainippon Pharma, which is a biopharma company still seeing growth rates in the high 20s with margins similar to Bristol-Myers (BMY).
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