A Look Behind What’s Driving Earnings For: Sakai Chemical Industry Co., Ltd. (TSE:4078), Unitika Ltd. (TSE:3103)

LNR | March 17, 2019

In trying to determine the current valuation of Sakai Chemical Industry Co., Ltd. (TSE:4078) shares, we note that the Book to Market ratio of the shares stands at 1.895758. It’s commonly accepted that a Book to Market ratio greater than one indicates that the shares might be undervalued.  The book to market ratio has some limitations in certain industries however where intangible assets (such as knowledge) often are not represented on a balance sheet. The ratio is calculated by dividing the market price per share by book value per share.

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With an operating history of over 55 years and a global presence, we are a world-renowned company in the distribution of chemical products and added value solutions.

Spotlight

With an operating history of over 55 years and a global presence, we are a world-renowned company in the distribution of chemical products and added value solutions.

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MARKET OUTLOOK

Advanced Petrochemical signs offtake deals for PP from planned complex at Jubail

Advanced | December 30, 2020

Saudi-based Advanced Petrochemical Company, a vital maker of polypropylene items, said its auxiliary, Advanced Global Investment Company (AGIC), has closed down take arrangements for the offer of polypropylene with two US-based gatherings - Vinmar International and Tricon Dry Chemicals - and Mitsubishi Corporation of Japan, said Chemweek. According to the drawn out arrangement, AGIC will supply 250,000 metric tons for every annum of polypropylene each to Vinmar and Tricon Dry Chemicals, while Mitsubishi will get 120,000 MT, expressed Advanced Petrochemical Company in its recording to Saudi Tadawul. The inventory of the whole polypropylene stock will be done from its Advanced Polyolefins Company (APOC) office in Jubail Industrial City set up as a joint endeavor with South Korea's SK Gas Petrochemical, it expressed. When operational, the APOC plant will have the ability to deliver 800,000 metric ton for each annum of polypropylene. As MRC educated before, Advanced Petrochemical Co. said its 85%-claimed auxiliary, Advanced Polyolefins Co. (APOC), acquired a contingent endorsement to make sure about SAR 3 billion credit from Saudi Industrial Development Fund (SIDF), as per a bourse proclamation. The credit, which can be dispensed until June 2025, is repayable in 16 semi-yearly portions, beginning July 2026, over a time of eight years. The credit will be ensured by contract on totally fixed resources of APOC to SIDF, notwithstanding giving corporate assurances from the investors of APOC. Ethylene and propylene are feedstocks for delivering polyethylene (PE) and polypropylene (PP). As indicated by MRC's ScanPlast report, Russia's assessed PE utilization totalled 1,760,950 tons in the initial ten months of 2020, up by 3% year on year. Just high thickness polyethylene (HDPE) and straight low thickness polyethylene (LLDPE) shipments expanded. Simultaneously, PP shipments to the Russian market arrived at 978,870 tons in January-October 2020 (determined utilizing the recipe: creation less fares in addition to imports less makers' inventories starting at 1 January, 2020). Supply of solely of PP arbitrary copolymer expanded.

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RAW MATERIALS

Origin Materials Announces New Partnership with Alliance to End Plastic Waste

Origin Materials | September 24, 2021

Origin Materials, Inc., the world’s leading carbon negative materials company, today announced it has joined the Alliance to End Plastic Waste, a global non-profit organization. Members of the Alliance include industry leaders across the plastics value chain, working towards a common goal of developing, deploying and scaling solutions to end plastic waste in the environment. As a member of the Alliance, Origin will work with fellow members to drive innovation and build a sustainable and circular global plastic value chain. The modern world is built on advanced materials like plastics which are high performance, light weight and cost effective. Since plastics are widely used for their functional advantages, companies are aggressively seeking net zero or low carbon sustainable solutions to fossil-based plastics. The partnership builds on Origin’s ability to leverage its patented technology platform, which turns inexpensive, sustainable wood residues into carbon-negative materials, to decarbonize and mitigate the climate impact of the global plastic supply chain. Origin’s technology has broad implications for a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys, and more with a ~$1 trillion addressable market. Origin’s carbon negative PET is being commercialized to reduce the carbon footprint and climate impact of plastic materials. An analysis by the Ellen MacArthur Foundation found that the impacts of plastics on climate change have been widely underestimated. Many of today's clothing, carpets, automotive parts, and other products are made from plastics and additional chemicals derived from fossil fuels. During petroleum extraction and processing, greenhouse gases are released into the atmosphere, contributing to global warming and climate change. Origin’s sustainable carbon-negative PET is physically and chemically identical to fossil-based PET. Since Origin PET is produced using sustainable wood residues instead of fossil fuel as feedstock, it has the potential to substantially reduce the energy used and greenhouse gases generated in the process. Additionally, compared with fossil-based PET, Origin PET is equally recyclable within the existing infrastructure, which is critical to creating a circular economy with a significantly reduced carbon footprint. Stakeholders across the manufacturing sector and end product markets recognize that to create a sustainable, circular economy, we must aggressively decarbonize the global plastics supply chain to mitigate the climate impact of plastic, We are excited to join together with the Alliance to End Plastic Waste to drive awareness and technical expertise of carbon-negative innovations in reducing the footprint of plastics, and toward the new circular economy. - Origin Materials co-CEO Rich Riley. Jacob Duer, President and Chief Executive Officer of the Alliance, said: “As the issue of plastic waste moves up in the global sustainability agenda, our mission to develop, deploy and scale solutions to end plastic waste in the environment is more relevant than ever before. Strengthening participation across the plastics value chain with Origin Materials will help accelerate our collective efforts. Together, we can work towards helping to create a more sustainable future and I look forward to a fruitful partnership.” About the Alliance to End Plastic Waste The Alliance to End Plastic Waste (Alliance) is a global non-profit organisation with the mission to end plastic waste in the environment. The Alliance develops, deploys, and scales solutions across four strategic areas—infrastructure, innovation, education and engagement, and cleanup. As of June 2021, its portfolio comprises over 30 projects across 60 cities worldwide. Tackling plastic waste is a complex challenge that requires collective action. Since 2019, the Alliance has convened a global network of industry leaders across the plastics value chain, together with government, civil society, entrepreneurs, and communities to work towards advancing a circular economy for plastic waste. About Origin Materials Headquartered in West Sacramento, Origin Materials is the world's leading carbon negative materials company. Origin’s mission is to enable the world’s transition to sustainable materials. Over the past 10 years, Origin has developed a platform for turning the carbon found in inexpensive, plentiful, non-food biomass such as sustainable wood residues into useful materials while capturing carbon in the process. Origin’s patented technology platform can help revolutionize the production of a wide range of end products, including clothing, textiles, plastics, packaging, car parts, tires, carpeting, toys, and more with a ~$1 trillion addressable market. In addition, Origin’s technology platform is expected to provide stable pricing largely decoupled from the petroleum supply chain, which is exposed to more volatility than supply chains based on sustainable wood residues. Origin’s patented drop-in core technology, economics and carbon impact are supported by a growing list of major global customers and investors.

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CHEMICAL MANAGEMENT

Equate launches latest food-grade PET with 30% chemically recycled content

Equate | January 07, 2021

Equate Group (Kuwait City) says its subsidiary Equipolymers (EQP; Schkopau, Germany) has launched a food-grade polyethylene terephthalate (PET) product manufactured using 30% chemically recycled PET as feedstock. The company’s latest Viridis-branded PET follows on from previous versions that featured 25% recycled PET and, when first launched in 2009, 10% recycled PET. “Designing more and better quality recyclates will not only help close the loop in the circular economy, but deliver greater added value for a more competitive, resilient plastics industry,” says Equate, a joint venture between Petrochemical Industries Co. (Kuwait City) and Dow. The PET product complies with European Commission regulations for food contact plastics, meaning it can be used in beverage bottle production as well as in thermoforming applications, says Equate. The product will be available commercially to the European market in the first quarter of 2021, it says. Its development is also aligned with the EU’s target to achieve 25% recycled PET in packaging by 2025, and 30% by 2030, says Muayad Al Faresi, EQP’s global business director/PET. EQP operates two PET production lines with a combined capacity of 350,000 metric tons/year, accounting for about 10% of Europe’s PET total.

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