Sumitomo Chemical has announced that Dongwoo Fine-Chem, a wholly-owned subsidiary of the Company, will establish a subsidiary named Sumika Semiconductor Materials Texas in the United States. The scope of business of the subsidiary will be manufacturing and sales of semiconductor process chemicals and other materials. Total capital earmarked for the new subsidiary is US$ 130 million.

Sumitomo Chemical will own 100% of the shares in the New Subsidiary through its direct investment and indirect investment via Dongwoo Fine-Chem Co., Ltd. and Sumitomo Chemical Advanced Technologies LLC, both of which are wholly-owned subsidiaries of Sumitomo Chemical.

The impact on Sumitomo Chemical’s consolidated financial results for the current fiscal year will be immaterial. The company will make another announcement if any matter that should be publicly announced arises in the future

In its Corporate Business Plan for the period from fiscal 2022 to fiscal 2024, Sumitomo Chemical has set out a policy of striving to effectively capture the growing demand for semiconductor materials, and the Company is working to strengthen its global production system for the semiconductor process chemicals business. As semiconductor-related investment in the U.S. accelerates, the Company will construct a new high-purity semiconductor process chemical plant and endeavor to achieve further growth in its silicon semiconductor materials business.