No category-specific facts could be extracted from this document.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.For the fiscal year ending March 2026, shipments declined at the US and French subsidiaries, while in Japan procurement costs rose due to the weaker yen, raw material prices increased, and SG&A expenses rose as the sales and administrative framework was strengthened. In the fine chemicals business, shipments of overseas pharmaceutical intermediates were postponed as the company addressed the upgrading of its quality control framework. For the fiscal year ending March 2027, the company expects higher shipments of pharmaceutical intermediates to Europe and the United States and of flavors and fragrances to the Americas and Asia, while also factoring in the impact of raw material costs, SG&A expenses, foreign exchange gains and gains on sales of investment securities.