Mitsubishi Gas Chemical Company (4182) AI Stock Analysis

• Market Cap: ¥737.56B
• Dividend Yield: 3.49%
• Average Volume (3M): 1.18M
• Price to Earnings (P/E): 77.8
• Beta (1Y): 1.00
• Revenue Growth: -6.83%
• EPS Growth: -123.67%
• Country: JP
• Employees: 7,918
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Chemicals - Specialty
• EPS (TTM): 9.14
• Shares Outstanding: 211,686,600
• 10 Day Avg. Volume: 1,075,400
• 30 Day Avg. Volume: 1,184,883
• PEG Ratio: 0.51
• Price to Book (P/B): 0.69
• Price to Sales (P/S): 0.60
• P/FCF Ratio: -46.61
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -149.78
• Revenue Forecast (FY): ¥734.65B

• Rating: 67 Neutral
• Price Target: ¥4,414.00 ▲(51.27% Upside)
• Action: Reiterated Date: 03/10/26
• Date: Action: Reiterated 03/10/26

The score is primarily supported by steady financial fundamentals and constructive technical trends, but it is meaningfully constrained by expensive valuation (very high P/E) and cash flow pressure from negative free cash flow.

Positive Factors

Diversified specialty and advanced materials portfolio

A broad portfolio spanning commodity chemicals, specialty/resins and advanced materials across packaging, electronics, automotive and healthcare reduces single-market exposure. Durable end-market diversity supports steadier revenue streams, cross-selling, and resilience through industry cycles over months to years.

Stable gross margins and improving net margin

Consistent ~21% gross margin and a modest uptick in net margin to 5.9% indicate sustained pricing or cost control in core products. Margin stability in a commodity-linked business suggests structural ability to manage feedstock pass-through and supports earnings durability despite cyclical revenue moves.

Strong equity ratio and positive operating cash flow

An equity ratio near 60% signals conservative capitalization and capacity to absorb shocks. Positive operating cash flow shows core operations generate cash, enabling reinvestment and servicing obligations. Together they underpin financial flexibility for strategic capex or downturns.

Negative Factors

Declining revenue and EPS

Negative revenue growth and a steep EPS decline point to deteriorating top-line momentum or one-off charges that materially compress earnings power. If sustained, shrinking sales and volatile earnings will limit reinvestment, weaken bargaining power with customers and suppliers, and pressure long-term profitability.

Negative free cash flow driven by high capex

Persistent negative free cash flow from heavy capex signals capital intensity or expansion investments that outpace internal cash generation. Over time this can constrain liquidity, force financing, and reduce ability to return capital unless capex yields higher returns on invested capital.

Slightly rising leverage and modest ROE

An uptick in leverage alongside a middling ROE (~6.8%) suggests limited capital efficiency and growing financial obligations. Over months this dynamic can raise interest exposure, limit strategic optionality, and constrain shareholder return potential if returns on new investments remain moderate.

Mitsubishi Gas Chemical Company Business Overview & Revenue Model

Company Description

Mitsubishi Gas Chemical Company, Inc. manufactures and sells basic and fine chemicals, and functional materials in Japan. It operates through Natural Gas Chemicals, Aromatic Chemicals, Specialty Chemicals, Information and Advanced Materials, and other segments. The Natural Gas Chemicals segment offers methanol and organic chemicals, and life science products. This segment is also involved in the mining and exploration of natural gas and oil, and development of geothermal energy. The Aromatic Chemicals segment provides aromatic chemicals and foamed plastics. The Specialty Chemicals segment offers inorganic chemicals, engineering plastics, and optical materials. The Information & Advanced Materials segment provides electronic materials and oxygen absorbers. Additionally, the company engages in the sale, leasing, management, and brokerage of real estate properties; shipping, freight transportation, and warehouse and tourist operations; civil engineering work and various other construction assignments; and research and development, sale, and consulting related to various technologies related to chemical industries. It also designs, manufactures, sells, operates, and supervises and consults machinery used in chemical industries and environmental preservation; and conducts various tests, analyses, and consults to environmental measurements and safety of chemical products. Mitsubishi Gas Chemical Company, Inc. was founded in 1918 and is headquartered in Tokyo, Japan.

How the Company Makes Money

The company primarily makes money by manufacturing chemical products and functional materials and selling them to business customers under supply contracts and ongoing commercial relationships. Revenue is generated from (1) sales of commodity/basic chemicals and intermediates where earnings are driven by production volumes, market pricing, and feedstock/energy costs; (2) sales of higher value-added specialty chemicals and performance materials (e.g., resins, engineered materials, and functional products) where profitability is supported by product differentiation, application-specific performance, and customer qualification cycles; and (3) sales into end-markets such as electronics, packaging, automotive, and industrial manufacturing, where demand levels and customer production trends influence order volumes. Profitability typically depends on the product mix (specialty vs. commodity), capacity utilization at manufacturing sites, pricing discipline and pass-through of raw-material cost changes, and the company’s ability to maintain competitive production costs and reliable supply. Specific details on major partnerships, top customers, or segment-level revenue breakdowns are null.

Mitsubishi Gas Chemical Company Financial Statement Overview

Summary

Stable profitability and solid equity position support the score, but negative revenue growth, slightly rising leverage, and negative free cash flow (driven by high capex) temper overall financial strength.

Income Statement

The company demonstrated stable revenue with a slight decrease from 2024 to 2025. Gross profit margins remained consistent, around 21%, indicating steady cost management. The net profit margin improved slightly to 5.9% in 2025, suggesting efficient operations. However, the revenue growth rate was negative over the past year, contrasting with prior growth, indicating potential revenue challenges.

Balance Sheet

The company maintains a strong equity position, with an equity ratio of around 60%, reflecting financial stability. However, the debt-to-equity ratio increased slightly, indicating rising leverage. Return on equity was around 6.8% in 2025, which is moderate but shows room for improvement.

Cash Flow

The operating cash flow was positive, but the free cash flow was negative due to high capital expenditures, reflecting significant reinvestment in the business. The operating cash flow to net income ratio suggests efficient cash conversion, though the free cash flow to net income ratio was negative, indicating potential liquidity constraints.

Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	763.45B	773.59B	813.42B	781.21B	705.66B	595.72B
Gross Profit	160.31B	158.44B	166.66B	162.36B	158.02B	136.59B
EBITDA	83.44B	87.26B	85.57B	83.00B	87.76B	75.57B
Net Income	42.22B	45.54B	38.82B	49.09B	48.30B	36.07B
Balance Sheet
Total Assets	1.11T	1.12T	1.07T	1.03T	928.65B	836.36B
Cash, Cash Equivalents and Short-Term Investments	76.94B	68.25B	71.45B	108.47B	102.06B	102.05B
Total Debt	204.20B	202.98B	155.00B	146.94B	107.65B	98.47B
Total Liabilities	420.64B	422.32B	383.18B	358.07B	297.76B	254.95B
Stockholders Equity	663.20B	668.22B	657.75B	607.61B	568.77B	524.26B
Cash Flow
Free Cash Flow	0.00	-9.93B	-7.34B	-7.50B	-4.26B	17.23B
Operating Cash Flow	0.00	75.44B	73.47B	55.22B	52.09B	55.46B
Investing Cash Flow	0.00	-90.99B	-76.17B	-64.07B	-64.95B	-40.37B
Financing Cash Flow	0.00	4.71B	-40.69B	8.00B	-3.67B	5.15B

Mitsubishi Gas Chemical Company Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2918.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4182, the sentiment is Positive. The current price of 2918 is below the 20-day moving average (MA) of 4344.85, below the 50-day MA of 3761.42, and above the 200-day MA of 2888.11, indicating a neutral trend. The MACD of 67.68 indicates Positive momentum. The RSI at 46.69 is Neutral, neither overbought nor oversold. The STOCH value of 16.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4182.

Mitsubishi Gas Chemical Company Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
4205	79 Outperform	$337.72B	14.16	9.59%	3.91%	0.87%	16.71%
4203	76 Outperform	¥431.17B	17.67	6.52%	1.82%	3.25%	-11.31%
4118	74 Outperform	¥293.05B	9.05	5.47%	3.41%	2.60%	9.50%
4182	67 Neutral	¥737.56B	77.75	-2.50%	3.49%	-6.83%	-123.67%
4631	65 Neutral	¥351.55B	8.14	8.14%	2.61%	-1.45%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
4183	61 Neutral	¥707.87B	12.79	2.01%	3.82%	-4.63%	-65.11%

Mitsubishi Gas Chemical Company Corporate Events

Mitsubishi Gas Chemical Scraps Dutch MXDA Plant Project Amid Cost Surge and Competition

Mitsubishi Gas Chemical has decided to permanently discontinue construction of an MXDA production facility at its wholly owned subsidiary MGC Specialty Chemicals Netherlands in Rotterdam, after earlier suspending the project due to delays, surging construction costs, and intensifying market competition. Following a review of strategic options, including possible partnerships, the company concluded that MXDA production at the site would not be sufficiently profitable and will instead proceed to shut down the facility and remove equipment by the end of 2029.

The group is still examining how this decision and associated shutdown costs, including equipment removal and contract-related expenses, will affect its consolidated and non-consolidated results for the fiscal year ending March 31, 2026. Management has indicated it will announce any material impacts requiring disclosure, underscoring a continued focus on financial discipline and portfolio optimization in response to changing market conditions for specialty chemicals.

The most recent analyst rating on (JP:4182) stock is a Hold with a Yen4833.00 price target. To see the full list of analyst forecasts on Mitsubishi Gas Chemical Company stock, see the JP:4182 Stock Forecast page.

Mitsubishi Gas Chemical Books Heavy Impairments but Lifts FY2025 Profit Outlook

Mitsubishi Gas Chemical reported consolidated net sales of ¥549.4 billion and operating profit of ¥37.8 billion for the first nine months of FY2025, with a sharp decline in profit attributable to owners of the parent to a loss of ¥26.1 billion, mainly due to large impairment losses at its Netherlands MXDA plant and a China hydrogen peroxide facility. Despite weaker methanol and polycarbonate market prices, reduced profitability in MXDA and its derivatives, and the withdrawal from the ortho-xylene chain business, the company modestly raised its full-year operating profit forecast to ¥47.0 billion on the back of higher BT materials sales volumes, kept its full-year net sales outlook at ¥730.0 billion and maintained its dividend forecast, while flagging a gain on divestment of non-business assets to be booked in the fourth quarter.

The heavy impairments highlight ongoing portfolio restructuring and pressure in some commodity and specialty chemical segments, even as growth in BT materials and capacity expansion in inorganic chemicals signal a continued shift toward higher-value products.

The most recent analyst rating on (JP:4182) stock is a Hold with a Yen3350.00 price target. To see the full list of analyst forecasts on Mitsubishi Gas Chemical Company stock, see the JP:4182 Stock Forecast page.

Mitsubishi Gas Chemical Lifts Profit Outlook but Warns of Deeper Net Loss on Impairment

Mitsubishi Gas Chemical revised its full-year consolidated forecast for the fiscal year ending March 2026, keeping net sales unchanged at ¥730 billion but raising operating profit to ¥47 billion and ordinary profit to ¥55 billion. The company now expects a deeper consolidated net loss of ¥18 billion due to impairment-related extraordinary losses, despite planned extraordinary gains from divesting non-business assets.

For the non-consolidated results, MGC maintained its net sales outlook at ¥410 billion while lifting ordinary profit to ¥38 billion and widening the projected net loss to ¥25 billion. Management cited robust demand for BT materials for IC plastic packaging and the impact of a weaker yen offsetting persistently low methanol prices, and adjusted its remaining-year exchange rate assumptions to ¥155 per U.S. dollar and ¥180 per euro, which will influence reported performance.

The most recent analyst rating on (JP:4182) stock is a Hold with a Yen3350.00 price target. To see the full list of analyst forecasts on Mitsubishi Gas Chemical Company stock, see the JP:4182 Stock Forecast page.

Mitsubishi Gas Chemical Swings to Loss but Lifts Dividend Outlook

Mitsubishi Gas Chemical reported nine‑month consolidated net sales of ¥549.5 billion, down 5.8% year on year, with operating profit falling 16.5% to ¥37.8 billion and ordinary profit down 10.6% to ¥48.2 billion. The period swung to a loss attributable to owners of the parent of ¥26.2 billion, compared with a ¥35.6 billion profit a year earlier, and the equity ratio slipped to 57.2% from 59.7%.

Despite weaker earnings and a projected full‑year net loss of ¥18.0 billion for the fiscal year ending March 31, 2026, the company plans to raise total annual dividends to ¥100 per share from ¥95 in the previous year. Management revised its full‑year forecast lower, now expecting declines in net sales, operating profit, and ordinary profit, signaling ongoing earnings pressure even as shareholder returns are maintained.

The most recent analyst rating on (JP:4182) stock is a Hold with a Yen3350.00 price target. To see the full list of analyst forecasts on Mitsubishi Gas Chemical Company stock, see the JP:4182 Stock Forecast page.