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Mitsubishi Chemical Group (4188) investor relations material

Mitsubishi Chemical Group Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary31 Oct, 2025

Executive summary

  • First half FY2025 core operating income exceeded initial forecasts, led by Specialty Materials and Industrial Gases, but overall income declined year-on-year due to weak MMA prices and inventory valuation losses.

  • Net income attributable to owners surged 169% year-on-year, mainly due to proceeds from the sale of Mitsubishi Tanabe Pharma, which is now classified as discontinued operations.

  • Management remains committed to business transformation, asset optimization, and disciplined business selection, with ongoing structural reforms and rationalization contributing to cost reductions.

Financial highlights

  • First half FY2025 sales revenue was ¥1,799.1 billion, down 10% year-on-year; core operating income was ¥126.1 billion, down 2.6%; operating income was ¥86.5 billion, down 20%.

  • Net income attributable to owners was ¥110.1 billion, up from ¥40.9 billion year-on-year, with net income from discontinued operations at ¥94.9 billion, including a ¥128.8 billion gain from the MTPC transfer.

  • Total assets decreased to ¥5,664.1 billion as of September 30, 2025, mainly due to the MTPC transfer.

  • Free cash flow for 1H FY2025 was ¥335.6 billion, supported by asset sales.

Outlook and guidance

  • FY2025 sales revenue is forecast at ¥3,672 billion, down 1.8% from previous guidance; core operating income forecast is ¥250 billion, and net income forecast is ¥125 billion.

  • Annual dividend forecast is maintained at ¥32 per share.

  • The downward revision reflects lower price gaps and sales volumes in MMA & Derivatives and Basic Materials & Polymers, despite robust Specialty Materials demand.

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Frequently asked questions

Mitsubishi Chemical Group Corporation is a diversified Japanese chemical company, established in October 2005 through the merger of Mitsubishi Chemical Corporation and Mitsubishi Pharma Corporation. The company offers a wide range of products and services across various sectors, including advanced polymers, high-performance chemicals, high-performance films, advanced moldings and composites, petrochemicals, carbon products, industrial gases, methyl methacrylate, and environment and living solutions. It also provides ethical pharmaceuticals, diagnostic reagents and instruments, capsules and pharmaceutical equipment, active pharmaceutical ingredients and intermediates, and self-health check services, catering to sectors such as mobility, environment and new energy, information technology, electronics and display, medical, food and bio products, packaging, labels and films, and healthcare. The company is headquartered in Chiyoda-Ku, Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.

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