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Mitsubishi Chemical, Net Income Forecast for the Fiscal Year Revised Downward by 62%

Thu Feb 5, 2026 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 February 5th (13:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) expanded 105 billion yen, an increase 77.6% compared to the same period last year.

However, the full-year forecast for consolidated net income has decreased 62.4%, from the previous forecast of 125 billion yen to 47.0 billion yen (compared to 45.0 billion yen in the previous period), leading to a reduction in the profit growth rate from 2.8 times to 4.4%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income/loss for the October to March period (second half) has been revised downward from an expected profit of 14.8 billion yen to a loss of 63.1 billion yen (compared to a profit of 4.09 billion yen in the same period of the previous year), turning to a loss outlook.

In the most recent three-month period, from October to December (3Q), the consolidated net income/loss turned to a loss of 4.70 billion yen (compared to a profit of 18.4 billion yen in the same period last year). The operating profit margin worsened from 3.9% in the same period last year to 2.9%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2023 3,245,140 212,500 191,784 103,864 73.0 79.7 Feb 6, 2024 IFRS
Apr - Dec, 2024 2,982,711 145,661 117,384 59,369 41.7 77.9 Feb 6, 2025 IFRS
Apr - Dec, 2025 2,737,283 113,322 89,340 105,429 76.7 248.2 Feb 5, 2026 IFRS
YoY -8.2% -22.2% -23.9% +77.6% +83.8%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 1,872,876 89,511 69,265 14,868 10.9 16 Oct 31, 2025 IFRS
Oct - Mar, 2025 New 1,872,876 -16,489 -32,735 -63,132 -46.5 16 Feb 5, 2026 IFRS
Revision Rate 0.0% － － － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 3,672,000 176,000 138,000 125,000 92.0 32 Oct 31, 2025 IFRS
Mar, 2026 New 3,672,000 70,000 36,000 47,000 34.6 32 Feb 5, 2026 IFRS
Revision Rate 0.0% -60.2% -73.9% -62.4% -62.4%

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 -16,489 -32,735 -63,132 -46.5 16 Feb 5, 2026 IFRS
YoY -21.9% － － － －

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 70,000 36,000 47,000 34.6 32 Feb 5, 2026 IFRS
YoY -16.7% -64.4% -76.1% +4.4% +9.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 972,939 38,030 35,507 18,448 13.0 3.9 Feb 6, 2025 IFRS
Jan - Mar, 2025 1,424,694 51,033 33,311 -14,349 -10.1 3.6 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
Oct - Dec, 2025 938,159 26,833 20,605 -4,703 -3.4 2.9 Feb 5, 2026 IFRS
YoY -3.6% -29.4% -42.0% － －

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