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Mitsubishi Chemical, Net Income Forecast for the Fiscal Year Revised Downward by 14%

Fri Oct 31, 2025 1:30 pm JST Earnings

4188 Mitsubishi Chemical Group Corporation 【IFRS】

Earnings Report

Mitsubishi Chemical Group Corporation <4188> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on October 31st (13:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) surged 2.7 times that of the same period last year, reaching 110 billion yen.

However, the full-year forecast for consolidated net income has decreased 13.8%, from the previous forecast of 145 billion yen to 125 billion yen (compared to 45.0 billion yen in the previous period), leading to a reduction in the profit growth rate from 3.2 times to 2.8 times.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to surge 3.6 times that of the same period last year, reaching 14.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income surged 71 times that of the same period last year, reaching 90.5 billion yen. However, the operating profit margin worsened from 4.1% in the same period last year to 2.8%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2023 2,149,898 138,618 130,151 67,212 47.3 54.1 Nov 1, 2023 IFRS
Apr - Sep, 2024 2,009,772 107,631 81,877 40,921 28.8 54.3 Nov 1, 2024 IFRS
Apr - Sep, 2025 1,799,124 86,489 68,735 110,132 79.7 49.8 Oct 31, 2025 IFRS
YoY -10.5% -19.6% -16.1% +169.1% +177.0%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance 1,803,000 111,000 ー 130,000 93.7 16 Aug 1, 2025 IFRS
Apr - Sep, 2025 Results 1,799,124 86,489 68,735 110,132 79.7 16 Oct 31, 2025 IFRS
Revision Rate -0.2% -22.1% － -15.3% -14.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 3,740,000 202,000 165,000 145,000 106.8 32 May 13, 2025 IFRS
Mar, 2026 New 3,672,000 176,000 138,000 125,000 92.0 32 Oct 31, 2025 IFRS
Revision Rate -1.8% -12.9% -16.4% -13.8% -13.8%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 2,397,633 89,063 68,818 4,099 2.9 16 May 13, 2025 IFRS
Oct - Mar, 2025 Guidance 1,872,876 89,511 69,265 14,868 11.0 16 Oct 31, 2025 IFRS
YoY -21.9% +0.5% +0.6% +262.7% +280.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 4,387,218 261,831 240,547 119,596 84.1 32 May 15, 2024 IFRS
Mar, 2025 4,407,405 196,694 150,695 45,020 31.6 32 May 13, 2025 IFRS
Mar, 2026 Guidance 3,672,000 176,000 138,000 125,000 92.0 32 Oct 31, 2025 IFRS
YoY -16.7% -10.5% -8.4% +177.7% +190.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 992,774 40,451 4,858 1,269 0.9 4.1 Nov 1, 2024 IFRS
Oct - Dec, 2024 1,321,774 81,846 79,608 18,448 13.0 6.2 Feb 6, 2025 IFRS
Jan - Mar, 2025 1,075,859 7,217 -10,790 -14,349 -10.1 0.7 May 13, 2025 IFRS
Apr - Jun, 2025 880,652 60,908 50,158 19,627 14.0 6.9 Aug 1, 2025 IFRS
Jul - Sep, 2025 918,472 25,581 18,577 90,505 65.5 2.8 Oct 31, 2025 IFRS
YoY -7.5% -36.8% +282.4% +7,032.0% +7,255.1%

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