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Mitsui Chemicals, First Half Net Income Decreases by 65%, Revises Dividend Forecast in Conjunction with Stock Split

Tue Nov 11, 2025 1:00 pm JST Earnings

4183 Mitsui Chemicals, Inc. 【IFRS】

Earnings Report

Mitsui Chemicals, Inc. <4183> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on November 11th (13:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) significantly dropped 64.7% from the same period last year to 7.84 billion yen. Progress toward the full-year plan of 55.0 billion yen was 14.3%, also falling below the five-year average of 49.9%.

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 4.7 times that of the same period last year, reaching 47.1 billion yen.

At the same time, due to a planned 2-for-1 forward stock split is scheduled for December 31, the the annual dividend has been revised from the original plan of 150 yen to 112.5 yen (equivalent to 150 yen before the forward stock split), but the actual dividend remains unchanged.

In the most recent three-month period, from July to September (2Q), the consolidated net income increased 63.9% from the same period last year, reaching 7.11 billion yen. However, the operating profit margin worsened from 4.3% in the same period last year to 3.8%.

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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 823,655 31,245 32,978 20,687 108.8 45.0 Nov 8, 2023 IFRS
Apr - Sep, 2024 890,351 45,992 40,836 22,229 116.9 57.0 Nov 7, 2024 IFRS
Apr - Sep, 2025 813,590 27,937 26,164 7,843 41.8 29.7 Nov 11, 2025 IFRS
YoY -8.6% -39.3% -35.9% -64.7% -64.3%

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 818,000 31,000 26,000 7,500 39.8 75 Aug 7, 2025 IFRS
Apr - Sep, 2025 Results 813,590 27,937 26,164 7,843 41.8 75 Nov 11, 2025 IFRS
Revision Rate -0.5% -9.9% +0.6% +4.6% +4.8%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 1,770,000 98,000 90,000 55,000 292.1 150 May 13, 2025 IFRS
Mar, 2026 New 1,700,000 95,000 88,000 55,000 292.1 150 Nov 11, 2025 IFRS
Revision Rate -4.0% -3.1% -2.2% 0.0% 0.0%

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 918,813 32,344 30,811 10,013 53.0 75 May 13, 2025 IFRS
Oct - Mar, 2025 Guidance 886,410 67,063 61,836 47,157 250.5 75 Nov 11, 2025 IFRS
YoY -3.5% +107.3% +100.7% +371.0% +372.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,749,743 74,124 73,331 49,999 263.0 140 May 15, 2024 IFRS
Mar, 2025 1,809,164 78,336 71,647 32,242 170.6 150 May 13, 2025 IFRS
Mar, 2026 Guidance 1,700,000 95,000 88,000 55,000 292.1 150 Nov 11, 2025 IFRS
YoY -6.0% +21.3% +22.8% +70.6% +71.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 440,880 18,790 11,563 4,340 22.8 4.3 Nov 7, 2024 IFRS
Oct - Dec, 2024 448,485 20,909 25,119 15,482 81.7 4.7 Feb 4, 2025 IFRS
Jan - Mar, 2025 470,328 11,435 5,692 -5,469 -28.9 2.4 May 13, 2025 IFRS
Apr - Jun, 2025 415,350 12,753 9,953 729 3.9 3.1 Aug 7, 2025 IFRS
Jul - Sep, 2025 398,240 15,184 16,211 7,114 37.9 3.8 Nov 11, 2025 IFRS
YoY -9.7% -19.2% +40.2% +63.9% +66.0%

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