Mitsui Chemicals Inc (JP:4183)
:4183
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Mitsui Chemicals
(4183)
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Rating:60Neutral
Price Target:
¥2,276.00
▲(11.27% Upside)
Action:Reiterated
Date:05/15/26
The score is driven primarily by compressed margins/returns and volatile recent revenue, partially offset by improved recent free cash flow and a manageable leverage profile. Technicals are moderately supportive with price above major moving averages, while valuation is helped by the ~3.46% dividend but tempered by a ~20x P/E amid weaker recent profitability.
Positive Factors
Diversified product mix / specialty focus
Mitsui Chemicals combines commodity polymers with higher-margin specialty materials across packaging, mobility, healthcare and electronics. That diversification supports more stable revenue streams, enables pricing power in engineered products, and positions the firm to capture structural growth in higher-value end markets.
Negative Factors
Margin and ROE compression
Net margin compression from 6.8% (2022) to ~2.1% and ROE near 4% reflect a meaningful decline in earnings power. Persistently lower margins reduce internal cash available for reinvestment, weaken returns to shareholders, and suggest ongoing pressure from feedstock costs or weaker pricing that could hinder long-term competitiveness.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified product mix / specialty focus
Mitsui Chemicals combines commodity polymers with higher-margin specialty materials across packaging, mobility, healthcare and electronics. That diversification supports more stable revenue streams, enables pricing power in engineered products, and positions the firm to capture structural growth in higher-value end markets.
Read all positive factors
Mitsui Chemicals (4183) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥796.81B
Dividend Yield3.82%
Average Volume (3M)752.31K
Price to Earnings (P/E)20.3
Beta (1Y)1.30
Revenue Growth-7.76%
EPS Growth7.92%
CountryJP
Employees19,861
SectorBasic Materials
Sector Strength58
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)91.57
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
¥2,305.71Price Target Upside12.72% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering7
EPS Forecast (FY)153.94
Revenue Forecast (FY)¥1.77T
Mitsui Chemicals Business Overview & Revenue Model
Company Description
Mitsui Chemicals, Inc. engages in the mobility, health care, food and packaging, basic materials, and other businesses. The company's Mobility segment develops elastomers, performance compounds, functional polymers, polypropylene compounds, and pe...
How the Company Makes Money
Mitsui Chemicals makes money primarily by manufacturing chemical and polymer products and selling them to industrial customers under contracts and recurring supply relationships. Revenue is generated across a mix of (1) commodity-like petrochemica...
Mitsui Chemicals Earnings Call Summary
Earnings Call Date:Feb 04, 2025
(Q3-2024)
| % Change Since: |
Next Earnings Date:Aug 05, 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
55
Neutral
Balance Sheet
62
Positive
Cash Flow
58
Neutral
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.67T | 1.81T | 1.75T | 1.88T | 1.61T |
| Gross Profit | 380.51B | 370.51B | 370.80B | 381.49B | 378.74B |
| EBITDA | 190.71B | 192.92B | 180.62B | 181.19B | 216.29B |
| Net Income | 34.38B | 32.24B | 50.00B | 82.94B | 109.99B |
Balance Sheet | |||||
| Total Assets | 2.15T | 2.15T | 2.22T | 2.07T | 1.93T |
| Cash, Cash Equivalents and Short-Term Investments | 183.11B | 170.62B | 210.29B | 186.31B | 181.15B |
| Total Debt | 740.19B | 791.74B | 811.46B | 794.70B | 715.06B |
| Total Liabilities | 1.16T | 1.18T | 1.23T | 1.18T | 1.13T |
| Stockholders Equity | 864.73B | 848.28B | 862.85B | 786.83B | 712.65B |
Cash Flow | |||||
| Free Cash Flow | 84.75B | 79.29B | 17.27B | -31.11B | -14.48B |
| Operating Cash Flow | 212.99B | 200.50B | 161.34B | 101.24B | 92.58B |
| Investing Cash Flow | -137.13B | -165.01B | -123.93B | -121.93B | -214.49B |
| Financing Cash Flow | -73.57B | -74.44B | -26.03B | 18.13B | 98.48B |
Mitsui Chemicals Technical Analysis
Positive
2045.50
Price Trends
1953.80
Positive
2049.48
Negative
1919.18
Positive
Market Momentum
28.15
Negative
53.56
Neutral
55.49
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4183, the sentiment is Positive. The current price of 2045.5 is above the 20-day moving average (MA) of 1981.58, above the 50-day MA of 1953.80, and above the 200-day MA of 1919.18, indicating a bullish trend. The MACD of 28.15 indicates Negative momentum. The RSI at 53.56 is Neutral, neither overbought nor oversold. The STOCH value of 55.49 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4183.
Mitsui Chemicals Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ¥327.64B | 9.57 | 5.47% | 3.41% | 0.55% | 25.37% | |
69 Neutral | ¥1.32T | 12.76 | 3.63% | 3.98% | 1.39% | ― | |
64 Neutral | ¥437.97B | 4.51 | 8.14% | 2.61% | -0.45% | 50.53% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
60 Neutral | ¥796.81B | 20.28 | 2.01% | 3.82% | -7.76% | 7.92% | |
58 Neutral | ¥964.93B | -17.36 | -2.50% | 3.49% | -4.57% | -190.44% | |
55 Neutral | ¥300.16B | -3.18 | 9.34% | 4.27% | -1.18% | -78.57% |
* Basic Materials Sector Average
JP:4183
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Mitsui Chemicals Corporate Events
Mitsui Chemicals Books Large Dividend from U.S. Subsidiary with No Impact on Consolidated Earnings
May 13, 2026
Mitsui Chemicals has announced the receipt of an USD 85 million dividend from its U.S. subsidiary, Mitsui Chemicals America, Inc., scheduled for September 25, 2025, equivalent to JPY 12,484 million at a specified exchange rate. The dividend will b...
Mitsui Chemicals Releases FY2025 Results and FY2026 Outlook
May 13, 2026
Mitsui Chemicals has released its financial summary for fiscal 2025, covering the year from April 1, 2025 to March 31, 2026, along with an outlook for fiscal 2026. The disclosure outlines consolidated financial highlights, segment-based results, c...
Mitsui Chemicals Posts Lower FY2025 Sales but Maintains Earnings Amid Portfolio Shift
May 13, 2026
Mitsui Chemicals reported a decline in FY2025 consolidated sales revenue to ¥1,668.8 billion from ¥1,809.2 billion, with operating income before special items edging down to ¥100.0 billion. Profitability weakened mainly in Mobility ...
Mitsui Chemicals Completes ¥30 Billion Buyback and Sets Major Share Cancellation
Apr 28, 2026
Mitsui Chemicals has completed a share repurchase program authorized in February 2026, buying back 15,000,400 common shares for a total of approximately 29.99 billion yen, with 6,584,000 shares acquired between April 1 and April 27. The company wi...
Mitsui Chemicals Advances Share Buyback, Spending ¥17.3 Billion by March End
Apr 1, 2026
Mitsui Chemicals has reported progress on its ongoing share buyback program authorized by its board on February 5, 2026, under Japan’s Companies Act. The company is repurchasing common shares via market purchases as part of a capital policy ...
Mitsui Chemicals Advances ¥30 Billion Share Buyback Program
Mar 2, 2026
Mitsui Chemicals has reported progress on a share buyback program authorized by its board on February 5, 2026, under Japan’s Companies Act. Between February 6 and February 28, the company repurchased 1,898,000 common shares for a total of ab...
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.