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Earnings presentation4202Daicel CorporationMaterials and Chemicals

Presentation Materials for the Second Quarter (Interim Period) Results for the Fiscal Year Ending March 2026

Revenue and earnings declined in the first half due to foreign exchange movements, customer inventory adjustments and lower sales volumes, and the full-year forecast was revised downward. The company maintained its annual dividend forecast of ¥60, set a treasury share repurchase limit, and advanced plans for integration with Polyplastics and the outsourcing of sales operations to Mitsui Chemicals.

Worth reading
79Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Deterioration
Direction inferred from the company’s description.
Scale
-75
億円（営業利益の通期当初予想比）
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentation2026年3月期 第2四半期（中間期）14 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,771 100 million-4.3%
Operating profit¥201 100 million-36.3%
Ordinary income¥204 100 million-33.7%
Net income¥188 100 million-41.3%
Results for the three months of the current quarter
Net Sales
¥1,378 100 million
Operating profit
¥71 100 million
Operating profit by segment
Medical and Healthcare0
Smart2
Safety11
Materials6
Engineering Plastics49
Other businesses3
Full-year earnings forecast
Net Sales
¥5,830 100 million
Operating profit
¥465 100 million
Ordinary income
¥475 100 million
Profit attributable to owners of the parent
¥500 100 million
EBITDA
¥895 100 million
ROE
13.8 %
ROIC
4.7 %
EPS
188.33 yen
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
セグメント別に計画超過・計画下振れが併存。連結通期予想は当初予想から下方修正。
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Consolidated revenue
Volume variance¥-53 100 million
Price variance¥-72 100 million
単価差の内為替影響¥-85 100 million
Consolidated operating profit
Volume impact¥31 100 million
Impact on pricing¥-26 100 million
Other¥-120 100 million
営業利益の内為替影響¥-31 100 million
EBITDA予想差
Volume impact¥-107 100 million
Impact on pricing¥16 100 million
Expense variance and other factors¥42 100 million
Foreign Exchange Effects¥-11 100 million
Tariff impact¥-32 100 million
COプラントトラブル¥-32 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Exchange rate
First-half results146 USD/JPY
Second-half plan145 USD/JPY
Asian methanol spot price
First-half results307 USD/ton
Second-half plan330 USD/ton
Dubai crude oil
First-half results69 USD/bbl
Second-half plan70 USD/bbl
Domestic naphtha
First-half results¥65,150 /kl
Second-half plan¥63,000 /kl
米国自動車需要
-5 %計画比
Inflator sales volume
-1.2 %計画比
New initiatives
  • 2026年4月1日付でポリプラスチックスの全事業をダイセルへ統合する検討開始
  • 2026年1月1日より三井化学のポリアミド樹脂・ポリイミド樹脂の営業業務をポリプラスチックスへ委託
  • Establishing a Share Repurchase Limit
  • ダイセルインジェクターP1 SCの2026年3月期第3四半期からの販売開始予定
Key KPIsA metric the company considers important as a management benchmark.
  • ROIC4.9 %
    Year on year against the same period last year△1.8ポイント
  • LCP販売数量19 % increase
    Year on year against the same period last year+19%
  • LCP世界シェア43 %
  • 米国拠点可動率80 %
  • 中国自動車用途販売数量見込み10 % increase
    Year on year against the same period last yearYear on year
Unit price and quantity metricsThese figures show sales broken down by price and volume.
セグメント別に数量差・単価差、営業利益の数量影響・価格影響を開示。LCP販売数量は前年同期比19%増、通期は前期比21%増を見込む。
Segment results
Medical and Healthcare
Net Sales76
Revenue unit¥100 million
Year-on-Year Change in Revenue (%)6.2
Operating profit2
Operating profit unit¥100 million
Operating profit year-on-year_pct10.1
Smart
Net Sales182
Revenue unit¥100 million
Year-on-Year Change in Revenue (%)-7.3
Operating profit4
Operating profit unit¥100 million
Operating profit year-on-year_pct87.9
Safety
Net Sales497
Revenue unit¥100 million
Year-on-Year Change in Revenue (%)5.6
Operating profit27
Operating profit unit¥100 million
Operating profit year-on-year_pct102.8
Materials
Net Sales772
Revenue unit¥100 million
Year-on-Year Change in Revenue (%)-12.8
Operating profit50
Operating profit unit¥100 million
Operating profit year-on-year_pct-65.3
Engineering Plastics
Net Sales1,219
Revenue unit¥100 million
Year-on-Year Change in Revenue (%)-2.1
Operating profit115
Operating profit unit¥100 million
Operating profit year-on-year_pct-24.5
Other businesses
Net Sales25
Revenue unit¥100 million
Year-on-Year Change in Revenue (%)-11.3
Operating profit4
Operating profit unit¥100 million
Operating profit year-on-year_pct16.3
Financial targets
ROE
Initial forecast14.8 %
Revised forecast13.8 %
ROIC
Initial forecast5.4 %
Revised forecast4.7 %
ROA
Initial forecast6.6 %
Revised forecast6.2 %
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Impact of U.S. tariffs
11 億円のコストアップ
Details関税総額約22億円のうち約11億円を価格転嫁予定
COプラントトラブル
¥-32 100 million
Details当初予想に対する影響額
Market Size / Share
サーバー全体生産台数1,300 万台2025年度予想
AIサーバー生産台数230 万台2025年度予想
サーバー市場成長率7 万台2025年度予想
AIサーバー市場成長率22 万台2025年度予想
LCP世界シェア43 万台2025年度予想
Capital expenditures
434 億円2026年3月期上期実績
Annual Dividend
Annual¥60 per share
Interim¥30 per share
End of period¥30 per share
Payout ratio
31.2 %
Total payout ratio63.1
DOE4.2
Acquisition of treasury shares
Maximum amount¥150 100 million, 10,000 shares
Maximum number of shares¥1,100 100 million, 10,000 shares
PeriodNovember 2025–March 2026
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period Covered2026年3月期 第2四半期（中間期）
Net Sales¥2,771 100 million (YoY -4.3%)
Operating profit¥201 100 million (YoY -36.3%)
Ordinary income¥204 100 million (YoY -33.7%)
Net income¥188 100 million (YoY -41.3%)
Results for the three months of the current quarterNet Sales ¥1,378 100 million / Operating profit ¥71 100 million / Operating profit by segment Medical and Healthcare 0 / Smart 2 / Safety 11 / Materials 6 / Engineering Plastics 49 / Other businesses 3
Full-year earnings forecastNet Sales ¥5,830 100 million / Operating profit ¥465 100 million / Ordinary income ¥475 100 million / Profit attributable to owners of the parent ¥500 100 million / EBITDA ¥895 100 million / ROE 13.8 % / ROIC 4.7 % / EPS 188.33 yen
Self-assessment against the planセグメント別に計画超過・計画下振れが併存。連結通期予想は当初予想から下方修正。
Segment resultsMedical and Healthcare Net Sales 76 / Revenue unit ¥100 million / Year-on-Year Change in Revenue (%) 6.2 / Operating profit 2 / Operating profit unit ¥100 million / Operating profit year-on-year_pct 10.1 / Smart Net Sales 182 / Revenue unit ¥100 million / Year-on-Year Change in Revenue (%) -7.3 / Operating profit 4 / Operating profit unit ¥100 million / Operating profit year-on-year_pct 87.9 / Safety Net Sales 497 / Revenue unit ¥100 million / Year-on-Year Change in Revenue (%) 5.6 / Operating profit 27 / Operating profit unit ¥100 million / Operating profit year-on-year_pct 102.8 / Materials Net Sales 772 / Revenue unit ¥100 million / Year-on-Year Change in Revenue (%) -12.8 / Operating profit 50 / Operating profit unit ¥100 million / Operating profit year-on-year_pct -65.3 / Engineering Plastics Net Sales 1,219 / Revenue unit ¥100 million / Year-on-Year Change in Revenue (%) -2.1 / Operating profit 115 / Operating profit unit ¥100 million / Operating profit year-on-year_pct -24.5 / Other businesses Net Sales 25 / Revenue unit ¥100 million / Year-on-Year Change in Revenue (%) -11.3 / Operating profit 4 / Operating profit unit ¥100 million / Operating profit year-on-year_pct 16.3
Breakdown of Factors Affecting the ChangeConsolidated revenue Volume variance ¥-53 100 million / Price variance ¥-72 100 million / 単価差の内為替影響 ¥-85 100 million / Consolidated operating profit Volume impact ¥31 100 million / Impact on pricing ¥-26 100 million / Other ¥-120 100 million / 営業利益の内為替影響 ¥-31 100 million / EBITDA予想差 Volume impact ¥-107 100 million / Impact on pricing ¥16 100 million / Expense variance and other factors ¥42 100 million / Foreign Exchange Effects ¥-11 100 million / Tariff impact ¥-32 100 million / COプラントトラブル ¥-32 100 million
Key KPIsIndicator name ROIC / Value 4.9 % / Year on year against the same period last year △1.8ポイント, Indicator name LCP販売数量 / Value 19 % increase / Year on year against the same period last year +19%, Indicator name LCP世界シェア / Value 43 % / Year on year against the same period last year Not disclosed, Indicator name 米国拠点可動率 / Value 80 % / Year on year against the same period last year Not disclosed, Indicator name 中国自動車用途販売数量見込み / Value 10 % increase / Year on year against the same period last year Year on year
Unit price and quantity metricsセグメント別に数量差・単価差、営業利益の数量影響・価格影響を開示。LCP販売数量は前年同期比19%増、通期は前期比21%増を見込む。
Assumptions Underlying the Business OutlookExchange rate First-half results 146 USD/JPY / Second-half plan 145 USD/JPY / Asian methanol spot price First-half results 307 USD/ton / Second-half plan 330 USD/ton / Dubai crude oil First-half results 69 USD/bbl / Second-half plan 70 USD/bbl / Domestic naphtha First-half results ¥65,150 /kl / Second-half plan ¥63,000 /kl / 米国自動車需要 Value -5 %（計画比） / Inflator sales volume Value -1.2 %（計画比）
Risk amount incorporated into the outlookImpact of U.S. tariffs Value 11 億円のコストアップ / Details 関税総額約22億円のうち約11億円を価格転嫁予定 / COプラントトラブル Value ¥-32 100 million / Details 当初予想に対する影響額
Financial targetsROE Initial forecast 14.8 % / Revised forecast 13.8 % / ROIC Initial forecast 5.4 % / Revised forecast 4.7 % / ROA Initial forecast 6.6 % / Revised forecast 6.2 %
Annual DividendAnnual ¥60 per share / Interim ¥30 per share / End of period ¥30 per share
Payout ratioValue 31.2 % / Total payout ratio 63.1 % / DOE 4.2 %
Acquisition of treasury sharesMaximum amount ¥150 100 million, 10,000 shares / Maximum number of shares ¥1,100 100 million, 10,000 shares / Period November 2025–March 2026
Capital expenditures434 億円（2026年3月期上期実績）
Market Size / Shareサーバー全体生産台数 1,300 万台（2025年度予想） / AIサーバー生産台数 230 万台（2025年度予想） / サーバー市場成長率 7 万台（2025年度予想） / AIサーバー市場成長率 22 万台（2025年度予想） / LCP世界シェア 43 万台（2025年度予想）
New initiatives2026年4月1日付でポリプラスチックスの全事業をダイセルへ統合する検討開始, 2026年1月1日より三井化学のポリアミド樹脂・ポリイミド樹脂の営業業務をポリプラスチックスへ委託, Establishing a Share Repurchase Limit, ダイセルインジェクターP1 SCの2026年3月期第3四半期からの販売開始予定
Items this document does not state (9)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastNumber of stores and locationsNumber of employeesMedium-term management plan targetsOrders 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.

上期の製品販売動向、アセテート・トウの顧客在庫調整による販売数量減少、ポリプラスチックスのPOM販売数量減少、為替影響、COプラントの一過性トラブル、関税影響などを理由としている。

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Presentation Materials for the Second Quarter (Interim Period) Results for the Fiscal Year Ending March 2026 | Daicel Corporation (4202) timely disclosure | Komori