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Financial results presentation4182Mitsubishi Gas Chemical Company,Inc.Materials and Chemicals

Fiscal 2025 Financial Results Presentation

In FY2025, despite higher volumes of electronic materials, revenue and profit declined due to falling market conditions, business withdrawals and intensifying competition, while impairment losses in multiple businesses resulted in a net loss. In FY2026, the company expects higher revenue and profit, along with annual dividends of ¥110 per share, driven by a recovery in methanol market conditions, the pass-through of higher costs and expanding demand for electronic materials.

Worth reading
69In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
858
¥100 million (year-on-year decrease in net income attributable to owners of the parent)
Wording
Conditional
How definitive the wording is.

Contents of this document

Financial results presentationFY2025 (fiscal year ended March 2026), full year; FY2026 (fiscal year ending March 2027), full-year forecast12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales
Value
FY2025 actual7,382
FY2026 forecast8,400
Year on year against the same period last year
FY2025 actual-4.6
FY2026 forecast13.8
Operating profit
Value
FY2025 actual452
FY2026 forecast590
Year on year against the same period last year
FY2025 actual-10.9
FY2026 forecast30.3
Ordinary income
Value
FY2025 actual519
FY2026 forecast660
Year on year against the same period last year
FY2025 actual-13.9
FY2026 forecast27.1
Net income
Value
FY2025 actual-403
FY2026 forecast460
Year on year against the same period last year
FY2025 actualDown ¥858 million from ¥455 million in the previous year
FY2026 forecastNo year-on-year comparison shown (¥863 million decrease from the previous year)
Operating profit margin
FY2025 actual6.1
FY2026 forecast7
Year-on-year change (points)0.9
Results for the three months of the current quarter
Standalone fourth quarter of FY2025
Net Sales1,887 Hundreds of millions of yen
Operating profit74 Hundreds of millions of yen
Ordinary income37 Hundreds of millions of yen
Full-year earnings forecast
Net Sales
8,400 Hundreds of millions of yen
Operating profit
590 Hundreds of millions of yen
Ordinary income
660 Hundreds of millions of yen
Net income
460 Hundreds of millions of yen
EBITDA
1,109 Hundreds of millions of yen
Annual Dividend
¥110 per share
ROE
7.1 %
ROIC
6 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
FY2025 year-on-year change in operating profit
Volume factor95 Hundreds of millions of yen
Currency factor8 Hundreds of millions of yen
Pricing factor-71 Hundreds of millions of yen
Other-88 Hundreds of millions of yen
FY2026 year-on-year change in operating profit
Volume factor82 Hundreds of millions of yen
Currency factor31 Hundreds of millions of yen
Pricing factor121 Hundreds of millions of yen
Other-96 Hundreds of millions of yen
FY2025 extraordinary loss
Impairment loss-784 Hundreds of millions of yen
Loss associated with the cancellation of construction work-10 Hundreds of millions of yen
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Foreign Exchange
USD_JPY¥155
EUR_JPY¥180
Crude Oil Prices
$90 /bbl
Methanol market conditions
375 US$/MT
Raw material xylene
950 US$/MT
Bisphenol A
1,250～1,700
Polycarbonate
1,800～2,450
New initiatives
  • As part of structural reform of the PC business, production at the PC plant at the Kashima Plant will cease around March 2028
  • Cancel construction of the MXDA plant in the Netherlands and scale down the site structure
  • Revise prices for BT materials and expand adoption in new applications
  • Pass through increases in raw material and fuel costs into selling prices
Key KPIsA metric the company considers important as a management benchmark.
  • EBITDA
    FY2025 actual928
    FY2026 forecast1,109
  • EBITDA margin
    FY2025 actual12.6
    FY2026 forecast13.2
  • ROIC
    FY2025 actual3.2
    FY2026 forecast6
  • ROE
    FY2026 forecast7.1
  • Equity ratio
    End of March 202658.1
  • ICT3 business operating profit
    FY2025 actual337
    FY2026 forecast410
  • U&P business operating profit
    FY2025 actual452
    FY2026 forecast580
Segment results
Green Energy & Chemicals
Net Sales
FY2025 actual2,869 Hundreds of millions of yen
FY2026 forecast3,534 Hundreds of millions of yen
Operating profit
FY2025 actual56 Hundreds of millions of yen
FY2026 forecast123 Hundreds of millions of yen
Ordinary income
FY2025 actual38 Hundreds of millions of yen
FY2026 forecast177 Hundreds of millions of yen
Functional Chemicals
Net Sales
FY2025 actual4,483 Hundreds of millions of yen
FY2026 forecast4,819 Hundreds of millions of yen
Operating profit
FY2025 actual438 Hundreds of millions of yen
FY2026 forecast517 Hundreds of millions of yen
Ordinary income
FY2025 actual491 Hundreds of millions of yen
FY2026 forecast526 Hundreds of millions of yen
Medium-term management plan targets
Plan nameGrow UP 2026
Guideline for total payout ratio50 %
DOE target3 %
Financial targets
ROE
FY2026 forecast7.1 %
ROIC
FY2026 forecast6 %
Equity ratio
Actual results as of March 202658.1 %
Market Size / Share
BT materialsNo. 1 worldwide by market share
Ultra-pure hydrogen peroxideNo. 1 worldwide by market share
Optical resin polymersNo. 1 worldwide by market share (high-refractive-index resins)
POMNo. 3 worldwide by market share
MXDANo. 1 worldwide by market share
MX nylonNo. 1 worldwide by market share
Aromatic aldehydesNo. 1 worldwide by market share
MethanolNo. 3 worldwide in production capacity
Number of employees
Fiscal 2025 year-end8,319 people
FY2026 forecast8,496 people
Capital expenditures
FY2025 actual719 Hundreds of millions of yen
FY2026 forecast610 Hundreds of millions of yen
Annual Dividend
FY2025¥100 per share
FY2026 forecast¥110 per share
Interim and Year-End Breakdown
FY2025Interim ¥50, year-end ¥50
FY2026 forecastInterim ¥55, year-end ¥55
Payout ratio
Guideline for total payout ratio50 %
DOE target3 %
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFY2025 (fiscal year ended March 2026), full year; FY2026 (fiscal year ending March 2027), full-year forecast
Net Salesvalue FY2025 actual 7,382 / FY2026 forecast 8,400 / yoy_pct FY2025 actual -4.6 / FY2026 forecast 13.8
Operating profitvalue FY2025 actual 452 / FY2026 forecast 590 / yoy_pct FY2025 actual -10.9 / FY2026 forecast 30.3
Ordinary incomevalue FY2025 actual 519 / FY2026 forecast 660 / yoy_pct FY2025 actual -13.9 / FY2026 forecast 27.1
Net incomevalue FY2025 actual -403 / FY2026 forecast 460 / yoy_pct FY2025 actual Down ¥858 million from ¥455 million in the previous year / FY2026 forecast No year-on-year comparison shown (¥863 million decrease from the previous year)
Operating profit marginFY2025 actual 6.1 / FY2026 forecast 7 / Year-on-year change (points) 0.9
Results for the three months of the current quarterSubject Standalone fourth quarter of FY2025 / Net Sales 1,887 Hundreds of millions of yen / Operating profit 74 Hundreds of millions of yen / Ordinary income 37 Hundreds of millions of yen
Full-year earnings forecastNet Sales 8,400 Hundreds of millions of yen / Operating profit 590 Hundreds of millions of yen / Ordinary income 660 Hundreds of millions of yen / Net income 460 Hundreds of millions of yen / EBITDA 1,109 Hundreds of millions of yen / Annual Dividend ¥110 per share / ROE 7.1 % / ROIC 6 %
Segment resultsGreen Energy & Chemicals Net Sales FY2025 actual 2,869 Hundreds of millions of yen / FY2026 forecast 3,534 Hundreds of millions of yen / Operating profit FY2025 actual 56 Hundreds of millions of yen / FY2026 forecast 123 Hundreds of millions of yen / Ordinary income FY2025 actual 38 Hundreds of millions of yen / FY2026 forecast 177 Hundreds of millions of yen / Functional Chemicals Net Sales FY2025 actual 4,483 Hundreds of millions of yen / FY2026 forecast 4,819 Hundreds of millions of yen / Operating profit FY2025 actual 438 Hundreds of millions of yen / FY2026 forecast 517 Hundreds of millions of yen / Ordinary income FY2025 actual 491 Hundreds of millions of yen / FY2026 forecast 526 Hundreds of millions of yen
Breakdown of Factors Affecting the ChangeFY2025 year-on-year change in operating profit Volume factor 95 Hundreds of millions of yen / Currency factor 8 Hundreds of millions of yen / Pricing factor -71 Hundreds of millions of yen / Other -88 Hundreds of millions of yen / FY2026 year-on-year change in operating profit Volume factor 82 Hundreds of millions of yen / Currency factor 31 Hundreds of millions of yen / Pricing factor 121 Hundreds of millions of yen / Other -96 Hundreds of millions of yen / FY2025 extraordinary loss Impairment loss -784 Hundreds of millions of yen / Loss associated with the cancellation of construction work -10 Hundreds of millions of yen
Key KPIsIndicator name EBITDA / FY2025 actual 928 Hundreds of millions of yen / FY2026 forecast 1,109 Hundreds of millions of yen, Indicator name EBITDA margin / FY2025 actual 12.6 % / FY2026 forecast 13.2 %, Indicator name ROIC / FY2025 actual 3.2 % / FY2026 forecast 6 %, Indicator name ROE / FY2025 actual Not disclosed / FY2026 forecast 7.1 %, Indicator name Equity ratio / End of March 2026 58.1 %, Indicator name ICT3 business operating profit / FY2025 actual 337 Hundreds of millions of yen / FY2026 forecast 410 Hundreds of millions of yen, Indicator name U&P business operating profit / FY2025 actual 452 Hundreds of millions of yen / FY2026 forecast 580 Hundreds of millions of yen
Number of employeesFiscal 2025 year-end 8,319 people / FY2026 forecast 8,496 people
Assumptions Underlying the Business OutlookForeign Exchange USD_JPY ¥155 / EUR_JPY ¥180 / Crude Oil Prices $90 /bbl / Methanol market conditions 375 US$/MT / Raw material xylene 950 US$/MT / Bisphenol A 1,250～1,700 / Polycarbonate 1,800～2,450
Medium-term management plan targetsPlan name Grow UP 2026 / Guideline for total payout ratio 50 % / DOE target 3 %
Financial targetsROE FY2026 forecast 7.1 % / ROIC FY2026 forecast 6 % / Equity ratio Actual results as of March 2026 58.1 %
Annual DividendFY2025 ¥100 per share / FY2026 forecast ¥110 per share / Interim and Year-End Breakdown FY2025 Interim ¥50, year-end ¥50 / FY2026 forecast Interim ¥55, year-end ¥55
Payout ratioGuideline for total payout ratio 50 % / DOE target 3 %
Capital expendituresFY2025 actual 719 Hundreds of millions of yen / FY2026 forecast 610 Hundreds of millions of yen
Market Size / ShareBT materials No. 1 worldwide by market share / Ultra-pure hydrogen peroxide No. 1 worldwide by market share / Optical resin polymers No. 1 worldwide by market share (high-refractive-index resins) / POM No. 3 worldwide by market share / MXDA No. 1 worldwide by market share / MX nylon No. 1 worldwide by market share / Aromatic aldehydes No. 1 worldwide by market share / Methanol No. 3 worldwide in production capacity
New initiativesAs part of structural reform of the PC business, production at the PC plant at the Kashima Plant will cease around March 2028, Cancel construction of the MXDA plant in the Netherlands and scale down the site structure, Revise prices for BT materials and expand adoption in new applications, Pass through increases in raw material and fuel costs into selling prices
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookAcquisition of treasury sharesOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

In FY2025, performance was weighed down by declines in PC and methanol market conditions, the withdrawal from the orthoxylene chain business, intensifying competition for MXDA and its derivatives, and higher fixed costs associated with increased capacity for semiconductor process chemicals. In addition, impairment losses were recorded for the MXDA plant in the Netherlands, ultra-pure hydrogen peroxide-related sites in Taiwan and China, and the PC business. For FY2026, the company expects earnings growth to be supported by higher methanol market prices, the pass-through of raw material costs, continued strong demand and expanded applications for electronic materials, and lower depreciation and amortization expenses following the impairment losses recognized in the previous fiscal year.

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Fiscal 2025 Financial Results Presentation | Mitsubishi Gas Chemical Company,Inc. (4182) timely disclosure | Komori