Sumitomo Corporation Acquires Agricultural Crop Protection Fungicide from
Bayer Crop Science Japan
TOKYO, April 10, 2014
TOKYO, April 10, 2014 /PRNewswire/ --Tokyo-based Sumitomo Corporation
announced the acquisition of agricultural crop protection fungicide
Metominostrobin from Bayer CropScience Japan. The deal was made through Summit
Agro International (hereinafter referred as "Sumisho Agro"), a subsidiary of
Sumitomo Corporation (SC).
Metominostrobin is a broad-spectrum, systemic fungicide with preventative and
curative activity. It is especially potent on soybean rust, which can
seriously damage soybeans.
Global cereal crop production has almost doubled from 1970 because of factors
such as population growth and diet changes due to increased incomes.
Worldwide, it is said that there is a need to double cereal crop production to
meet the estimated food demand projected by 2050. To ensure this level of crop
production in the future, farm land acreage needs to increase but most
importantly, higher yields are essential. Fungicides like Metominostrobin will
be instrumental in helping farmers meet this increased demand.
Metominostrobin has already been registered as a Crop Protection product in
Argentina, one of the world's largest soybean producers as well as other Latin
American countries including Columbia, Ecuador, Peru and Bolivia.
Additionally, it has been registered for crop protection usage in Asia,
including Vietnam, the Philippines, Malaysia and Indonesia, and in Israel,
where demand for fruits and cereal crops is significantly increasing.
Metominostrobin is in the process of being registered in Brazil, the world's
second largest soybean producer, through Iharabras, which Sumitomo Corporation
has equity participation.
Sumisho Agro's acquisition of this fungicide includes distribution and
marketing rights for all markets with the exception of sales and development
of Metominostrobin as well as its dossier for risk assessment in Japan, which
will be retained by Bayer CropScience Japan. Sumisho Agro aims to sell several
billion yen globally of the product by 2020 through increased global promotion
of Metominostrobin. In addition, Sumisho Agro will proactively engage in the
development of the mixture of new compounds to expand the application of the
Sumitomo Corporation Group (SCG) started to grow their crop protection
business in the 1970s by exporting Crop Protection products manufactured by
Japanese companies. Presently, SCG is developing the business of importing and
selling these types of agricultural chemicals in 30 countries, mainly in
Europe. SCG's strategy is to expand the value chain downstream through the
acquisition of agricultural wholesalers and others. Sumitomo Corporation Group
aims to further enhance its revenue base through diversified measures such as
upgrading and expanding their portfolios and increasing their business base.
About Sumitomo Corporation
Sumitomo Corporation is a leading global trading company, with 115 locations
in 66 countries and 24 locations in Japan. The entire Sumitomo Corporation
Group consists of nearly 800 companies and more than 70,000 personnel. The SC
business is continuously expanding into a diverse range of products and
services. Its core business units are Metal Products; Transportation
&Construction Systems; Environment & Infrastructure; Media, Network, Lifestyle
Related Goods & Services; and Mineral Resources, Energy, Chemical &
About Summit Agro International Ltd
Summit Agro International is a trading company specialized in the crop
protection product, environmental health product and pet care businesses, and
provides value-added services by using its skilled human resources and
accumulated know-how. Summit Agro possesses strong purchasing and marketing
power, backed by the international network of the Sumitomo Corporation Group,
as well as sophisticated expertise in proposing and creating new innovations,
thereby contributing to a better society and environmental protection on a
SOURCE Summit Agro International
Contact: Ms. Vanessa Goldschneider, 212-207-0567,
email@example.com; or Ms. Sayaka Ito,
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