Mitsubishi Gas Chemical Company (4182) AI Stock Analysis

• Market Cap: ¥846.59B
• Dividend Yield: 3.49%
• Average Volume (3M): 1.18M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.05
• 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: ¥3,040.00
• Price Target Upside: 4.18% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): -90.98
• Revenue Forecast (FY): ¥735.06B

• Rating: 64 Neutral
• Price Target: ¥4,788.00 ▲(64.08% Upside)
• Action: Reiterated Date: 02/14/26
• Date: Action: Reiterated 02/14/26

The score is primarily supported by solid financial stability (strong equity base) and steady profitability, but is held back by negative revenue growth and negative free cash flow from heavy capex. Technically, the strong uptrend is tempered by extremely overbought indicators, and valuation is less supportive due to a negative P/E despite a moderate dividend yield.

Positive Factors

Balance Sheet Strength

A ~60% equity ratio provides durable financial stability, enabling the company to absorb cyclical shocks, support investment cycles and maintain creditor confidence. This capital buffer underpins long-term strategic flexibility and lowers bankruptcy risk during downturns.

Margin Sustainability

Consistent gross margins (~21%) and a modest improvement in net margin indicate sustained cost control and operational efficiency. Stable margins support predictable cash generation and resilience to raw material swings, aiding multi-quarter planning and reinvestment capacity.

Diversified Product Mix

A broad product portfolio across commodity and specialty chemicals and exposure to electronics, automotive, packaging and healthcare reduces reliance on any single end market. Diversification supports steadier demand, cross-selling, and long-term pricing leverage in value-added segments.

Negative Factors

Negative Revenue Trend

A negative revenue growth rate signals weakening top-line momentum which can persist across quarters. Declining sales reduce operating leverage, limit ability to cover fixed costs, and may impede R&D or commercial investments needed to regain market share over the medium term.

Negative Free Cash Flow

Sustained negative free cash flow from heavy capex strains internal funding for dividends, debt reduction, and acquisitions. If high investment doesn't yield timely returns, the company may need external financing, increasing cost of capital and reducing financial optionality over months.

Rising Leverage

An uptick in leverage raises interest and refinancing risk and reduces resilience to demand shocks. Combined with only moderate ROE (~6.8%), higher debt can erode shareholder returns and constrain strategic moves, particularly if earnings or cash flow remain pressured.

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

Mitsubishi Gas Chemical Company generates revenue through a multi-faceted business model that includes the production and sale of specialty chemicals, industrial chemicals, and electronic materials. Key revenue streams come from the Performance Products segment, which serves a variety of industries such as automotive, healthcare, and electronics, where it provides high-value-added products. The Industrial Chemicals segment contributes significantly by supplying essential materials used in manufacturing processes across various sectors. Additionally, the Electronics segment capitalizes on the growing demand for advanced materials in semiconductor manufacturing. The company also benefits from strategic partnerships and collaborations with other industry leaders to enhance its product offerings and expand market reach, further driving its earnings.

Mitsubishi Gas Chemical Company Financial Statement Overview

Summary

Stable margins and slightly improved net profit margin support results, backed by a strong equity ratio (~60%). Offsetting this are negative recent revenue growth, a slight increase in leverage, and negative free cash flow driven by high capital expenditures.

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	164.29B	173.19B	168.18B	162.59B	140.96B
EBITDA	82.77B	95.13B	101.68B	83.00B	87.76B	80.81B
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	422.31B	383.18B	358.07B	297.76B	254.95B
Stockholders Equity	663.19B	668.22B	657.75B	607.61B	568.76B	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: Negative
• RSI: Negative
• STOCH: Neutral

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 3919.40, below the 50-day MA of 3354.41, and above the 200-day MA of 2732.19, indicating a bullish trend. The MACD of 345.70 indicates Negative momentum. The RSI at 70.19 is Negative, neither overbought nor oversold. The STOCH value of 52.02 is Neutral, 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	¥408.97B	12.16	9.65%	3.91%	0.87%	16.71%
4203	76 Outperform	¥527.48B	20.36	6.52%	1.82%	3.25%	-11.31%
4118	74 Outperform	¥333.84B	12.62	5.47%	3.41%	2.60%	9.50%
4631	65 Neutral	¥419.23B	12.96	8.14%	2.61%	-1.45%	―
4182	64 Neutral	¥846.59B	-52.21	-1.15%	3.49%	-6.83%	-123.67%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
4183	61 Neutral	¥930.53B	52.39	2.02%	3.82%	-4.63%	-65.11%

Mitsubishi Gas Chemical Company Corporate Events

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.