Sumitomo Chemical (4005 JP) and its separately listed subsidiary Sumitomo Pharma (4506 JP) came under scrutiny in August 2026 when Gotham City Research challenged the quality of their recovery, leverage and a Swiss intercompany transaction. Both companies’ results include material business-disposal gains, and receivables warrant further explanation. The group rejected the allegations and reconciled the Swiss distribution. Our A&G Screens rate both companies Medium Risk in 1Q27, triggering Large/Rising Net Receivables. Chemical’s preceding FY26 rating is Low Risk. Fraud has not been established at either company.

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