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Mitsui Chemicals
(4183)
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Rating:60Neutral
Price Target:
¥2,286.00
▲(7.63% Upside)
Action:Reiterated
Date:08/09/26
The score is primarily driven by middling financial performance—thin current profitability, low ROE, and inconsistent/weak cash conversion—partly offset by a stable balance sheet. Technicals are moderately supportive with price above major moving averages and neutral-to-positive momentum. Valuation is balanced, with a not-cheap P/E but an attractive dividend yield providing support.
Positive Factors
Diversified specialty and industrial chemical portfolio
Exposure across multiple end markets reduces reliance on any single customer or industry. Specialty and functional materials can also support more durable demand, customer qualification advantages, and potentially steadier margins than basic chemicals.
Negative Factors
Thin net margins and weak return on equity
Low net profitability leaves limited protection against feedstock, energy, or operating-cost pressure. Weak ROE also suggests that the current portfolio is using substantial capital without generating returns comparable with stronger prior periods.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified specialty and industrial chemical portfolio
Exposure across multiple end markets reduces reliance on any single customer or industry. Specialty and functional materials can also support more durable demand, customer qualification advantages, and potentially steadier margins than basic chemicals.
Read all positive factors
Mitsui Chemicals (4183) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥830.05B
Dividend Yield3.53%
Average Volume (3M)752.31K
Price to Earnings (P/E)11.9
Beta (1Y)1.13
Revenue Growth-3.47%
EPS Growth348.74%
CountryJP
Employees16,967
SectorBasic Materials
Sector Strength58
IndustryChemicals
Share Statistics
EPS (TTM)178.40
Shares Outstanding401,687,620
10 Day Avg. Volume656,460
30 Day Avg. Volume752,313
Financial Highlights & Ratios
PEG Ratio2.73
Price to Book (P/B)0.81
Price to Sales (P/S)0.42
P/FCF Ratio8.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥2,407.50Price Target Upside13.35% Upside
Rating ConsensusHold
Number of Analyst Covering8
EPS Forecast (FY)133.69
Revenue Forecast (FY)¥1.89T
Mitsui Chemicals Business Overview & Revenue Model
Company Description
Mitsui Chemicals, Inc. is a diversified chemical enterprise operating across key sectors including mobility, healthcare, food and packaging, and basic materials. Within its Mobility division, it develops and supplies elastomers, various performanc...
How the Company Makes Money
Mitsui Chemicals makes money primarily by manufacturing and selling chemical products and materials to corporate customers (e.g., plastics converters, automotive and electronics suppliers, packaging and consumer-goods manufacturers, and industrial...
Mitsui Chemicals Earnings Call Summary
Earnings Call Date:Feb 04, 2025
(Q3-2024)
| % Change Since: |
Next Earnings Date:Nov 11, 2026
Earnings Call Sentiment Negative
The earnings call highlighted some positive aspects such as growth in the Mobility Solutions segment and improvements in terms of trade. However, these were overshadowed by significant declines in overall sales and profits, challenges in key segments such as Basic & Green Materials and ICT Solutions, and a downward revision of the full-year forecast.Positive Updates
Mobility Solutions Growth
Mobility Solutions reported an operating income before special items of JPY 41.0 billion, an increase of JPY 2.1 billion compared to the same period last year. This was driven by growth in solar cell encapsulation materials and the recovery in automotive applications. The terms of trade were also positive, reflecting exchange rate differences and a shift to high value-added products.
Negative Updates
Overall Decline in Sales and Profits
Sales revenue for the April to December period was JPY 1.2745 trillion, a decrease of JPY 154.4 billion compared to the same period last year. Operating income before special items was JPY 72.4 billion, a decrease of JPY 37.9 billion, and net income was JPY 37.3 billion, a decrease of JPY 27.6 billion.
Read all updates
Q3-2024 Updates
Positive
Negative
Mobility Solutions Growth
Mobility Solutions reported an operating income before special items of JPY 41.0 billion, an increase of JPY 2.1 billion compared to the same period last year. This was driven by growth in solar cell encapsulation materials and the recovery in automotive applications. The terms of trade were also positive, reflecting exchange rate differences and a shift to high value-added products.
Read all positive updates
Company Guidance
During the third quarter earnings call for Mitsui Chemicals, CFO Nakajima detailed a challenging financial period marked by sluggish demand and declining raw material prices, leading to a year-on-year decrease in both sales and profits. Operating income before special items was revised downward from JPY 112.0 billion to JPY 93.0 billion, attributed to slower-than-expected demand recovery and lower cracker utilization rates. Net income forecast was also reduced to JPY 50.0 billion, factoring in business restructuring losses. Despite these setbacks, the annual dividend forecast remains at JPY 140 per share. In terms of business segments, Life & Healthcare Solutions saw a decrease in operating income to JPY 18.5 billion, while Mobility Solutions experienced a slight increase to JPY 41.0 billion. ICT Solutions faced a drop to JPY 18.1 billion, and Basic & Green Materials posted a negative JPY 3.9 billion. The financial outlook for FY 2023 expects sales revenue to decrease to JPY 1.741 trillion, with an anticipated operating income of JPY 93.0 billion. The exchange rate assumption is set at JPY 144 to the U.S. dollar, with domestic naphtha prices projected at JPY 71,900 per kiloliter in the second half. Despite these challenges, the company anticipates profit growth in the Mobility segment, driven by solar cell encapsulation materials and recovery in automobile production.Mitsui Chemicals Financial Statement Overview
Summary
Income Statement
60
Neutral
Balance Sheet
63
Positive
Cash Flow
52
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.71T | 1.67T | 1.81T | 1.75T | 1.88T | 1.61T |
| Gross Profit | 403.24B | 380.51B | 370.51B | 370.80B | 381.49B | 378.74B |
| EBITDA | 221.46B | 189.78B | 182.94B | 180.47B | 218.97B | 230.40B |
| Net Income | 65.74B | 34.38B | 32.24B | 50.00B | 82.94B | 109.99B |
Balance Sheet | ||||||
| Total Assets | 2.26T | 2.15T | 2.15T | 2.22T | 2.07T | 1.93T |
| Cash, Cash Equivalents and Short-Term Investments | 217.84B | 183.11B | 170.62B | 210.29B | 186.31B | 181.15B |
| Total Debt | 821.96B | 740.19B | 791.74B | 811.46B | 794.70B | 715.06B |
| Total Liabilities | 1.26T | 1.16T | 1.18T | 1.23T | 1.18T | 1.13T |
| Stockholders Equity | 873.25B | 864.73B | 848.28B | 862.85B | 786.83B | 712.65B |
Cash Flow | ||||||
| Free Cash Flow | 54.21B | 84.75B | 79.29B | 17.27B | -31.11B | -14.48B |
| Operating Cash Flow | 181.59B | 212.99B | 200.50B | 161.34B | 101.24B | 92.58B |
| Investing Cash Flow | -141.66B | -137.13B | -165.01B | -123.93B | -121.93B | -214.49B |
| Financing Cash Flow | -17.72B | -73.57B | -74.44B | -26.03B | 18.13B | 98.48B |
Mitsui Chemicals Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ¥482.27B | 8.50 | 10.33% | 4.92% | 6.29% | 101.67% | |
66 Neutral | ¥368.97B | 10.52 | 6.43% | 2.74% | 3.53% | 63.85% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ¥830.05B | 11.91 | 4.01% | 3.40% | -3.47% | 348.74% | |
60 Neutral | ¥1.21T | 13.41 | 5.92% | 3.35% | 5.67% | 164.07% | |
59 Neutral | ¥372.04B | 37.29 | 2.75% | 4.15% | 2.16% | -77.64% | |
50 Neutral | ¥743.19B | -24.78 | -6.25% | 2.29% | 2.69% | -173.16% |
* Basic Materials Sector Average
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Mitsui Chemicals Corporate Events
Mitsui Chemicals Accelerates Ultradent Acquisition and Shifts Oral Care Hub to U.S.
Aug 17, 2026
Mitsui Chemicals has completed its previously announced acquisition of U.S.-based Ultradent Products, Inc., finalizing the deal on August 14, 2026, earlier than the originally expected September timeline. The earlier completion was made possible a...
Mitsui Chemicals Outlines Q1 FY2026 Results and Half-Year Outlook
Aug 5, 2026
Mitsui Chemicals released its financial summary for the first quarter of fiscal 2026, covering results from April to June and providing an outlook for the first half through September. The document, prepared for stakeholders in English from the Ja...
Mitsui Chemicals First-Quarter Profit Surges on Recovery in Materials and Strong Pricing
Aug 5, 2026
Mitsui Chemicals reported a year-on-year rise in first-quarter FY2026 sales revenue to ¥460.0 billion, driven by higher volumes and improved pricing across specialty chemicals and basic and green materials, with operating income before specia...
Mitsui Chemicals Completes Restricted Stock Compensation Share Disposal
Jul 23, 2026
Mitsui Chemicals has completed payment procedures for the disposal of 50,400 treasury shares as part of a restricted stock-based compensation plan approved by its board in June 2026. The shares, priced at 2,119.5 yen each for a total of about 106....
Mitsui Chemicals Sets Up U.S. Oral Care Hub Ahead of Ultradent Deal
Jul 14, 2026
Mitsui Chemicals is accelerating the build-out of its global oral care business by shifting its headquarters function from Japan to the United States, positioning oral care as the third pillar of its Life Healthcare Solutions segment. The group p...
Mitsui Chemicals to Grant Treasury Shares as Restricted Stock to Executives
Jun 24, 2026
Mitsui Chemicals will dispose of 50,400 treasury shares as restricted stock-based compensation to five internal directors and 25 executive officers, with a total value of about ¥106.8 million and a per-share price of ¥2,119.5. The move i...
Mitsui Chemicals to Acquire Ultradent in Dental Care Expansion Drive
Jun 12, 2026
Mitsui Chemicals’ U.S. subsidiary plans to acquire Ultradent Products, a global leader in teeth whitening and dental restorative materials, via a new holding company that will make Ultradent a wholly owned unit. The move is designed to deepe...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.