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Sumitomo Chemical to buy Kyowa Hakko's agrochemical segment

Deal targets know-how in growing field

Sumitomo Chemical is expanding its R&D capabilities abroad as well.

TOKYO -- Sumitomo Chemical will acquire drugmaker Kyowa Hakko Kirin's agrochemical operations, aiming to gain know-how in a fast-growing field.

The purchase, valued at 6 billion yen to 7 billion yen ($54.5 million to $63.6 million), is slated for completion by next March.

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