Japanese chemical company Sumitomo Chemical originally planned to dedicate 20 of its total ￥700B ($6.5B) in investments-roughly ￥140B ($1.3B)-to PCs from April 2019 to March 2022, but it now plans to earmark 10 of ￥850B ($7.9B) in total investments-roughly ￥85B ($790MM)-for PCs. The company will also postpone unspecified investments until April 2022. The investment cuts were made because of the coronavirus, which Sumitomo Chemical believes will continue to cut into demand for plastic products.
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