Mitsubishi Gas Chemical Company (4182) Q3 2025 earnings summary

Executive summary

• Net sales decreased 6.2% year-over-year to ¥583.2 billion, mainly due to the transition of JSP Corporation to an equity-method affiliate, despite positive factors like yen depreciation and higher sales of optical polymers for smartphones.

• Operating profit rose 17.2% to ¥45.3 billion, driven by growth in Specialty Chemicals and yen depreciation.

• Ordinary profit increased 24.1% to ¥53.9 billion, supported by higher methanol prices and improved equity in earnings of affiliates.

• Profit attributable to owners of parent fell 11.1% to ¥35.6 billion, reflecting the absence of a prior-year gain from step acquisitions.

Financial highlights

• Net sales: ¥583.2 billion (down 6.2% year-over-year).

• Operating profit: ¥45.3 billion (up 17.2% year-over-year).

• Ordinary profit: ¥53.9 billion (up 24.1% year-over-year).

• EPS: ¥178.18 (down from ¥196.18 year-over-year).

• Gross profit for the nine months was ¥129.3 billion, down from ¥137.4 billion year-over-year.

Outlook and guidance

• Full-year forecasts for operating profit and ordinary profit remain unchanged at ¥56.0 billion and ¥63.0 billion, respectively.

• Net sales forecast for FY2024 is ¥770.0 billion, with profit attributable to owners of parent at ¥48.0 billion.

• Annual dividend forecast is ¥95.00 per share, up from ¥80.00 in the previous year.

• Assumed FX rates revised to ¥152/USD and ¥160/EUR for the remainder of the year.

• Methanol market price projected to rise in 4Q due to supply constraints.