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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.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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