Worth reading
83Important
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
4214
¥ million (year-on-year increase in consolidated net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ended December 202413 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥18,234 million+30.1%
Operating profit¥4,562 million+83.0%
Ordinary income¥4,682 million+74.5%
Net income¥2,291 million-0.6%
Selling, general and administrative expenses¥6,539 million
Gross Profit Margin
Rate60.9%
Year-on-year change (points)1.6ppt増
Operating profit margin
Rate25.0%
Year-on-year change (points)7.2ppt増
Results for the three months of the current quarter
Net Sales
¥4,552 million
Operating profit
¥913 million
Operating profit margin20.1%
薬品売上高4,436
機械売上高49
資材売上高64
Other net sales1
Full-year earnings forecast
Fiscal year ending December 2025
Net Sales
¥20,000 million
Operating profit
¥5,000 million
Ordinary income
¥5,100 million
Net income
¥3,600 million
Earnings per share
¥192.26
Operating profit margin25.0%
Ordinary income margin25.5%
Net profit margin18.0%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Consolidated revenue
密着向上剤売上2520百万円
エッチング剤売上¥608 million
その他薬品売上-¥29 million
Machinery sales466百万円
Materials sales¥19 million
Other sales¥4 million
Foreign exchange impact¥624 million
Consolidated operating profit
Chemical product sales and volume1551百万円
Chemical product gross profit margin¥610 million
Machinery sales¥125 million
Machinery gross profit margin-¥18 million
Materials and other sales¥21 million
Materials and other gross profit margin-¥20 million
Foreign exchange effects (gross profit)¥515 million
Selling, general and administrative expenses-550百万円
Foreign exchange effects (SG&A expenses)-164百万円
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Exchange rate
NTD4.76
RMB21.08
HKD19.48
THB4.22
EUR164.84
USD152.33
Business Environment半導体市況の回復、PKG基板の増加、超高密度化・超高周波化によるCZシリーズ等の需要拡大を見込む
New initiatives
- 2025～2027年の中期経営計画Phase2を開始
- 無粗化技術（化学密着）領域でのソリューション確立
- 既存技術の応用展開による新規事業の創出
- 北九州工場の稼働に向けた計画推進
- MEC（HONG KONG）LTD.の解散・清算およびMEC FINE CHEMICAL（ZHUHAI）LTD.の完全子会社化
Key KPIsA metric the company considers important as a management benchmark.
- 薬品出荷量42,075 tonYear on year against the same period last year+18.9%
- Overseas revenue ratio63.4 %Year on year against the same period last year前年同一期間61.1%から増加
- R&D expenses as a percentage of net sales7.3 %Year on year against the same period last year2023年7.3%から記載上変化なし
- EBITDA¥5,487 millionYear on year against the same period last year+37.4%
Medium-term management plan targets
PlanPhase2（2025～2027年）
2027年連結売上高250億円（コア事業235億円、応用展開15億円）
Consolidated operating margin20% or higher
ROE10% or higher
Financial targets
ROE
Target10% or higher
2024 results8.9%
Consolidated operating margin
Target20% or higher
2024 results25.0%
Market Size / Share
市場規模・シェアの具体的な数値はNot disclosedNumber of stores and locations
Number of production locations尼崎、長岡、北九州、台湾、中国（蘇州）、珠海、欧州、タイの拠点を記載
Number of employees
Consolidated480 People
Standalone277 People
Capital expenditures
69 億円2024年12月期
Annual Dividend
2024年12月期実績
Annual¥45
Interim¥20
End of period¥25
2025年12月期予想
Annual¥55
Interim¥25
End of period¥30
Payout ratio
2025年12月期予想28.6%
Medium-term targetConsolidated payout ratio target of 30%
Acquisition of treasury shares
Policy状況に応じて機動的に実施
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ended December 2024 |
| Net Sales | ¥18,234 million (YoY +30.1%) |
| Operating profit | ¥4,562 million (YoY +83.0%) |
| Ordinary income | ¥4,682 million (YoY +74.5%) |
| Net income | ¥2,291 million (YoY -0.6%) |
| Gross Profit Margin | Rate 60.9% / Year-on-year change (points) 1.6ppt増 |
| Operating profit margin | Rate 25.0% / Year-on-year change (points) 7.2ppt増 |
| Selling, general and administrative expenses | ¥6,539 million |
| Results for the three months of the current quarter | Net Sales ¥4,552 million / Operating profit ¥913 million / Operating profit margin 20.1% / 薬品売上高 4,436 / 機械売上高 49 / 資材売上高 64 / Other net sales 1 |
| Full-year earnings forecast | Subject Fiscal year ending December 2025 / Net Sales ¥20,000 million / Operating profit ¥5,000 million / Ordinary income ¥5,100 million / Net income ¥3,600 million / Earnings per share ¥192.26 / Operating profit margin 25.0% / Ordinary income margin 25.5% / Net profit margin 18.0% |
| Breakdown of Factors Affecting the Change | Consolidated revenue 密着向上剤売上 2520百万円 / エッチング剤売上 ¥608 million / その他薬品売上 -¥29 million / Machinery sales 466百万円 / Materials sales ¥19 million / Other sales ¥4 million / Foreign exchange impact ¥624 million / Consolidated operating profit Chemical product sales and volume 1551百万円 / Chemical product gross profit margin ¥610 million / Machinery sales ¥125 million / Machinery gross profit margin -¥18 million / Materials and other sales ¥21 million / Materials and other gross profit margin -¥20 million / Foreign exchange effects (gross profit) ¥515 million / Selling, general and administrative expenses -550百万円 / Foreign exchange effects (SG&A expenses) -164百万円 |
| Key KPIs | 薬品出荷量 42,075 ton, Overseas revenue ratio 63.4 %, R&D expenses as a percentage of net sales 7.3 %, EBITDA ¥5,487 million |
| Number of stores and locations | Number of production locations 尼崎、長岡、北九州、台湾、中国（蘇州）、珠海、欧州、タイの拠点を記載 / Number at period-end Not disclosed / Number of store openings and closures during the period Not disclosed |
| Number of employees | Consolidated 480 People / Standalone 277 People / Changes during the period and hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | Exchange rate NTD 4.76 / RMB 21.08 / HKD 19.48 / THB 4.22 / EUR 164.84 / USD 152.33 / Business Environment 半導体市況の回復、PKG基板の増加、超高密度化・超高周波化によるCZシリーズ等の需要拡大を見込む |
| Medium-term management plan targets | Plan Phase2（2025～2027年） / 2027年連結売上高 250億円（コア事業235億円、応用展開15億円） / Consolidated operating margin 20% or higher / ROE 10% or higher |
| Financial targets | ROE Target 10% or higher / 2024 results 8.9% / Consolidated operating margin Target 20% or higher / 2024 results 25.0% / Equity ratio Not disclosed |
| Annual Dividend | 2024年12月期実績 Annual ¥45 / Interim ¥20 / End of period ¥25 / 2025年12月期予想 Annual ¥55 / Interim ¥25 / End of period ¥30 |
| Payout ratio | 2025年12月期予想 28.6% / Medium-term target Consolidated payout ratio target of 30% |
| Acquisition of treasury shares | Buyback limit Not disclosed / Number of Shares Not disclosed / Period Not disclosed / Policy 状況に応じて機動的に実施 |
| Capital expenditures | 69 億円（2024年12月期） |
| Market Size / Share | 市場規模・シェアの具体的な数値はNot disclosed |
| New initiatives | 2025～2027年の中期経営計画Phase2を開始, 無粗化技術（化学密着）領域でのソリューション確立, 既存技術の応用展開による新規事業の創出, 北九州工場の稼働に向けた計画推進, MEC（HONG KONG）LTD.の解散・清算およびMEC FINE CHEMICAL（ZHUHAI）LTD.の完全子会社化 |
Items this document does not state (7)
Progress against full-year forecastSelf-assessment against the planSegment resultsUnit price and quantity metricsRisk amount incorporated into the outlookOrders 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.会社は、薬品売上・数量の増加、薬品粗利益率の改善、機械売上の増加、為替の影響を増収・営業増益の要因として説明している。一方、純利益の減少については、MEC（HONG KONG）LTD.の解散・清算およびMEC FINE CHEMICAL（ZHUHAI）LTD.の完全子会社化に伴う日中の税金計上により法人税等が増加したためとしている。
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.