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Sumitomo Chemical India soars as parent's unit partners Samsung Electro-Mechanics for semiconductor venture
03-Jul-26 14:43Hrs IST

Japan's Sumitomo Chemical announced that its wholly owned South Korean subsidiary, Dongwoo Fine-Chem, signed a joint venture agreement with Samsung Electro-Mechanics to enter the glass core substrate business for advanced semiconductor packages.

The new venture, tentatively named GlaSSEM, will be established in South Korea in 2026, subject to regulatory approvals. Samsung Electro-Mechanics will hold a 66% stake, while Dongwoo Fine-Chem will own the remaining 34%.

The joint venture will develop, manufacture and sell glass core substrates, a next-generation packaging technology designed to enable larger, denser and more power-efficient semiconductor packages. The technology is expected to play a key role in artificial intelligence (AI), high-performance computing and data centre applications, where demand for advanced chip packaging is rising rapidly.

The venture aims to establish a supply system by the second half of fiscal 2027 before gradually expanding production capacity.

Sumitomo Chemical said the partnership combines Dongwoo Fine-Chem's expertise in glass processing and manufacturing with Samsung Electro-Mechanics' capabilities in semiconductor package substrates and high-density wiring technologies.

The Japanese chemical major said the investment aligns with its strategy to strengthen its semiconductor materials business, particularly in next-generation semiconductor packaging.

Sumitomo Chemical India manufactures, imports and markets crop protection products, grain fumigants, rodent control solutions, biopesticides, environmental health products, professional pest control solutions and feed additives. The company sources products from its parent, Sumitomo Chemical, and its US-based subsidiary, Valent Biosciences, while also manufacturing technical-grade pesticides at its own facilities backed by in-house R&D. Besides India, it has a presence in Africa and several other international markets. Promoter held 75% stake in the company as on March 2026.

On a consolidated basis, Sumitomo Chemical India's net profit rose 11.70% to Rs 111.23 crore while net sales rose 0.64% to Rs 683.74 crore in Q4 March 2026 over Q4 March 2025.

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