Mitsui Chemicals lifts FY2026 forecast after first-half profit growth
- First-half sales rose 20.3% year on year to ¥979.1 billion, while operating income before special items increased 123.4% to ¥99.3 billion.
- The revised FY2026 forecast is ¥2,095 billion in sales revenue and ¥150 billion in operating income before special items.
- Mitsui Chemicals agreed to acquire JSR for ¥1.84 trillion, targeting completion in the second half of the fiscal year ending March 2028.
- The domestic polyolefin integration is expected to generate annual cost savings of more than ¥8 billion.
First-half results
For the six months ended September 30, 2026, sales revenue rose 20.3% year on year to ¥979.1 billion. Operating income before special items increased 123.4% to ¥99.3 billion, while operating income was ¥93.8 billion and net income attributable to owners of the parent was ¥58.8 billion. Price revisions, exchange-rate effects and improved inventory revaluation contributed to the gains.
Basic & Green Materials recorded the largest segment increase in sales, reaching ¥376.5 billion, and returned to a ¥28.2 billion operating profit before special items. Mobility Solutions and ICT Solutions also increased income on this basis. Life & Healthcare Solutions' income declined slightly to ¥12.7 billion, partly due to acquisition-related inventory valuation expenses.
Outlook and transactions
The revised FY2026 forecast is ¥2,095 billion in sales revenue, ¥150 billion in operating income before special items and ¥53 billion in net income attributable to owners of the parent. The forecast assumes an annual exchange rate of ¥157 per US dollar and average domestic naphtha prices of ¥101,700 per kilolitre.
Prime Polymer integrated Sumitomo Chemical's domestic polypropylene and linear low-density polyethylene businesses on July 1, 2026. The group targets annual cost savings exceeding ¥8 billion. Mitsui Chemicals acquired US dental materials maker Ultradent Products for ¥124.1 billion on August 14, 2026.
On November 9, 2026, the company agreed to acquire JSR for ¥1.84 trillion, including ¥200 billion from Development Bank of Japan. Completion is targeted for the second half of the fiscal year ending March 2028, subject to regulatory approvals. Mitsui Chemicals aims for approximately ¥40 billion in annual incremental profit by FY2035 through growth and cost synergies.
Source: Mitsui Chemicals