Sumitomo Chemical Newly Designates Ten Products and Technologies as Sumika Sustainable Solutions
Annual sales revenue of the Solutions reached 621 billion yen, achieving initial target
Aug. 4, 2022
Sumitomo Chemical has newly designated 10 of its Group’s products and technologies as Sumika Sustainable Solutions in its initiative to achieve a sustainable society, which marks its seventh anniversary this year. Sumika Sustainable Solutions, now including a total of 66 products and technologies, represent annual sales revenue of approximately ¥621 billion (for fiscal 2021), exceeding the target amount of ¥560 billion set in the previous Corporate Business Plan.
The major products designated this time include: THERMOFIL HP® glass-fiber reinforced polypropylene (PP), which is used in automotive parts to replace conventionally used aluminum and reduce the weight of automobiles, contributing to lower CO2 emissions from manufacturing and driving; GaN substrates for laser light source projectors that do not use mercury and consume less power compared to conventional products; and TotalFlex®0.4 banana tree bags made of fibers containing insecticidal active ingredients, which eliminate the need for insecticide spray during banana cultivation. All these products and technologies are linked to the Sustainable Development Goals (SDGs), such as “Responsible Consumption and Production,” and are expected to contribute to the achievement of SDGs in their respective areas.
Since 2016, Sumitomo Chemical has been working on the initiative of designating the Group’s products and technologies that contribute to addressing climate change and reducing environmental impact as Sumika Sustainable Solutions, after review and assessment by multiple external experts. In order to promote the development and deployment of designated products and technologies, the Company has made sales revenue of Sumika Sustainable Solutions a key performance indicator (KPI), based on which progress has been monitored. In addition, contributions to the creation of social value, including acquiring designation under this initiative, are included in the selection criteria for the Company’s employee commendation system. In the current Corporate Business Plan (for fiscal 2022 to fiscal 2024), Sumitomo Chemical aims to achieve Sumika Sustainable Solutions sales revenue of 700 billion yen by the final year of the Plan period and 1.2 trillion yen by fiscal 2030, doubling from fiscal 2021 levels.
The Sumitomo Chemical Group will continue to work as one to create solutions that contribute to building a sustainable society by leveraging the diverse technologies that it has cultivated as a diversified chemical company.
Sumika Sustainable Solutions
Sales Revenue: Results and Targets
Sumika Sustainable Solutions Sales Revenue by Category of Contribution
(for Fiscal 2021 in Percentage)
The products and technologies newly designated as Sumika Sustainable Solutions
Sumitomo Chemical Co., Ltd.
Corporate Communications Dept.