For Immediate Release

April 28, 2009

Sumitomo Chemical Announces Financial Forecast Revisions, the Postingof Extraordinary Losses, and the Reversal of Deferred Tax Assets
Based on recent performance trends, Sumitomo Chemical Co., Ltd. has revised its
consolidated full-year financial forecast for the fiscal year ended March 31, 2009,
announced on February 3, 2009. The Company will also post extraordinary losses andreverse deferred tax assets for the same fiscal year. The details are given below.

1. Revision of Consolidated Full-Year Financial Forecast for the Year Ended March 31,2009(1) Revised consolidated full-year forecast for the year ended March 31, 2009
(Millions of yen)
Sales

OperatingOrdinary

IncomeIncomeNet Income

Previous Forecast (A)1,820,000

30,0000-15,000

Revised Forecast (B)1,790,000

2,000-33,000-59,000

Variance in Amount (B-A)-30,000-28,000-33,000-44,000

Variance in Percentage-1.6%-93.3%――

1,896,539

102,397

92,79063,083(Reference)
Results of Previous Fiscal Year(Ended March 31, 2008)(2) Reasons for the revision
Due to a further downturn in the business climate during the year ended March 31,2009, the Company expects its operating income and ordinary income to be lower thanpreviously forecast. Net income is also expected to fall short of the forecast figure withthe posting of extraordinary losses and the reversal of deferred tax assets as set out
below.

2. Posting of Extraordinary Losses
Factors including the severe downturn in the business climate have led to an indicationof impairment of a portion of our operating assets. As a result of atest performed on

the recoverability of those fixed assets, the Company will post extraordinary losses of¥20.8 billion for the impairment for the year ended March 31, 2009.

3. Reversal of Deferred Tax Assets
After a study of the recoverability of its deferred tax assets, the Company has decided toreverse a portion of those deferred tax assets and record ¥19.6 billion under corporate
tax adjustments for the year ended March 31, 2009.

The financial forecast for the year ending March 31, 2010 will be announced on May 11,
2009, together with the financial results for the year ended March 31, 2009. We will
endeavor to recover profitability by implementing marketing strategies that are closelyaligned with changes in the operating environment, and further streamlining andrationalizing all levels of our business, as well as also through the Rabigh Project, which hascommenced commercial operations.

Cautionary Statement
Statements made in this document with respect to Sumitomo Chemical’s current plans,estimates, strategies and beliefs that are not historical facts are forward-looking statements
about the future performance of Sumitomo Chemical. These statements are based on
management’s assumptions and beliefs in light of the information currently available to it,and involve risks and uncertainties. The important factors that could cause actual results todiffer materially from those discussed in the forward-looking statements include, but are notlimited to, general economic conditions in Sumitomo Chemical’s markets; demand for, andcompetitive pricing pressure on, Sumitomo Chemical’s products in the marketplace;
Sumitomo Chemical’s ability to continue to win acceptance for its products in these highly
competitive markets; and movements of currency exchange rates.