Mitsui Chemicals : 【Timely Disclosure】FY2025 Consolidated Financial Results Summary

May 13, 2026

Mitsui Chemicals, Inc.

1. Summary of Operating Results （Unit : Billions of Yen)

   	FY2024	FY2025	Incr. (Decr.)
   Sales revenue	1,809.2	1,668.8	(140.4)
   Operating income before special items	101.0	100.0	(1.0)
   Operating income	78.3	73.8	(4.5)
   Net income	42.6	46.9	4.3
   Net income attributable to owners of the parent	32.2	34.4	2.2

   Outlook for FY2026

   Full year

   1,900.0

   105.0

   83.0

   55.0

   45.0

2. Sales Revenue and Operating Income before Special Items by Business Segment ※1

   ･Sales revenue

   （Unit : Billions of Yen)

   		FY2024	FY2025	Incr. Breakdown
   				(Decr.)	Volume	Price
   	Life & Healthcare Solutions	251.7	259.1	7.4	11.1	(3.7)
   	Mobility Solutions	555.1	515.4	(39.7)	(22.6)	(17.1)
   	ICT Solutions	277.6	279.5	1.9	2.4	(0.5)
   Specialty chemicals domains		1,084.4	1,054.0	(30.4)	(9.1)	(21.3)
   Basic & Green Materials		710.0	599.9	(110.1)	(73.5)	(36.6)
   Others		14.8	14.9	0.1	-	0.1
   Total		1,809.2	1,668.8	(140.4)	(82.6)	(57.8)

   Outlook for FY2026
   Full year
   270.0
   530.0
   320.0
   1,120.0
   630.0
   150.0
   1,900.0

   ･Operating income (loss) before special items

   （Unit : Billions of Yen)

   		FY2024	FY2025	Incr. Breakdown
   				(Decr.)	Volume	Price ※2	Fixed Costs etc.
   	Life & Healthcare Solutions	34.1	34.2	0.1	3.4	(0.5)	(2.8)
   	Mobility Solutions	55.1	51.0	(4.1)	(2.4)	(0.9)	(0.8)
   	ICT Solutions	26.7	36.9	10.2	6.7	2.7	0.8
   Specialty chemicals domains		115.9	122.1	6.2	7.7	1.3	(2.8)
   Basic & Green Materials		(11.4)	(18.4)	(7.0)	(2.0)	(9.8)	4.8
   Others		(2.6)	(0.1)	2.5	-	-	2.5
   Adjustment		(0.9)	(3.6)	(2.7)	-	-	(2.7)
   Total		101.0	100.0	(1.0)	5.7	(8.5)	1.8

   Outlook for FY2026
   Full year
   38.0
   51.0
   41.0
   130.0
   (3.0)
   (18.0)
   (4.0)
   105.0

   ※1 In accordance with the organizational reform implemented on April 1, 2025, the Mitsui Chemicals group has revised the segment classifications for Mitsui Chemicals Asahi Life Materials Co., Ltd. and certain other consolidated subsidiaries. Accordingly, the results for the previous year have been reclassified into the post-revision reportable segment classifications.

   ※2 Price includes both selling and purchasing price variances.

3. Summary of Statement of Financial Position

   （Unit : Billions of Yen)

   	Assets
   	As of Mar. 31, 2025	As of Mar. 31, 2026	Incr. (Decr.)
   Current assets	1,041.2	993.2	(48.0)
   Property, plant and equipment & right-of-use assets	669.2	720.8	51.6
   Goodwill and intangible assets	87.3	98.0	10.7
   Other non-current assets	356.3	339.7	(16.6)
   Total assets	2,154.0	2,151.7	(2.3)

   	Liabilities and Equity
   	As of Mar. 31, 2025	As of Mar. 31, 2026	Incr. (Decr.)
   Interest-bearing debt	791.7	795.8	4.1
   Other liabilities	391.7	367.1	(24.6)
   Equity attributable to owners of the parent	848.3	864.7	16.4
   Non-controlling interests	122.3	124.1	1.8
   Total liabilities and equity	2,154.0	2,151.7	(2.3)

   ［ Net D/E Ratio ］ 0.73 0.70 (0.03)

4. Summary of Statement of Cash Flows （Unit : Billions of Yen)

   	FY2024	FY2025	Incr. (Decr.)
   Cash flows from operating activities	200.5	213.0	12.5
   Cash flows from investing activities	(165.0)	(134.8)	30.2
   Free cash flows	35.5	78.2	42.7
   Cash flows from financing activities	(74.4)	(75.9)	(1.5)
   Others	(0.8)	10.2	11.0
   Net incr.(decr.) in cash and cash equivalents	(39.7)	12.5	52.2
   Cash and cash equivalents at the end of period	170.6	183.1	12.5

5. Accounting Fundamentals

   		FY2024	FY2025	Incr. (Decr.)
   R & D expenses	￥Billions	45.8	46.4	0.6
   Depreciation & amortization	￥Billions	99.8	104.7	4.9
   Capital expenditures	￥Billions	145.2	162.2	17.0
   Interest-bearing debt	￥Billions	791.7	795.8	4.1
   Net D/E Ratio	Times	0.73	0.70	(0.03)
   Number of employees	Person	17,320	16,967	(353)
   Exchange rate	Yen / US$	153	151	(2)
   Domestic standard naphtha price	Yen / KL	75,600	65,300	(10,300)

   Outlook for FY2026
   Full year
   50.0
   121.0
   134.0
   837.8
   -
   17,000
   155
   95,000

6. Scope of Consolidation and Equity Method (Unit : Number of Companies)

   	FY2024	FY2025	Incr. (Decr.)
   Consolidated subsidiaries	127	129	2
   Joint operations	4	4	-
   Joint ventures and affiliates	23	21	(2)
   Total	154	154	-

   Outlook for FY2026

   Full year

   127

   4

   19

   150

7. Dividends

   	Annual Dividends per Share (yen)
   	1st Q	Interim (2nd Q)	3rd Q	Year-end (4th Q)	Annual Total
   FY2025 Result	-	75.00	-	37.50	-
   FY2026 Forecast	-	37.50	-	37.50	75.00

   On January 1, 2026, Mitsui Chemicals, Inc. (hereinafter the "Company") conducted a two-for-one stock split of its common shares. The above dividend per share for the second quarter of the FY2025 is the amounts before the stock split.

   The total annual dividend per share for the FY2025 is not stated because the interim dividend and the year-end dividend cannot be simply added together due to the stock split. If the stock split is not taken into account, the year-end dividend per share for FY2025 would be 75.00 yen, and the total annual dividend would be 150.00 yen.

8. Number of Shares Outstanding (common stock)

   	FY2024	FY2025
   Number of shares outstanding at term-end (including treasury stock)	401,687,630	401,687,630
   Number of shares of treasury stock at term-end	27,005,490	33,588,357
   Average number of shares	378,073,390	375,211,777

   On January 1, 2026, the Company conducted a two-for-one stock split of its common shares.

   The above number of Shares Outstanding (common stock) has been calculated assuming that the stock split had been conducted at the beginning of the FY2024.

9. [Reference] Non-Consolidated Financial Results for FY2025 (April 1, 2025 to March 31, 2026)

   1. Non-Consolidated Operating Results (Percentages indicate year-on-year changes.)

      	Net sales		Operating Income		Ordinary income		Net Income
      FY2025 FY2024	Millions of yen 749,791 888,431	% (15.6) 2.5	Millions of yen (30,409) (15,676)	% - -	Millions of yen 9,344 19,753	% (52.7) (47.6)	Millions of yen 13,530 25,566	% (47.1) (33.3)

      	Earnings per share	Diluted earnings per share
      	Yen	Yen
      FY2025	36.06	-
      FY2024	67.62	-

      On January 1, 2026, the Company conducted a two-for-one stock split of its common shares.

      Earnings per share has been calculated assuming that the stock split had been conducted at the beginning of the FY2024.

   2. Non-Consolidated Financial Position

Reference: Shareholders' equity

As of March 31, 2026: 376,113 million yen

As of March 31, 2025: 404,721 million yen

On January 1, 2026, the Company conducted a two-for-one stock split of its common shares.

Net assets per share been calculated assuming that the stock split had been conducted at the beginning of the FY2024.

In the fiscal period under review (the twelve-month period from April 1, 2025 to March 31, 2026, hereinafter "fiscal 2025"), economic recovery continued moderately worldwide. Meanwhile, the pace of recovery in some countries and regions has slowed amid weak demand and U.S. trade policies. In addition, the instability in the Middle East, driven by military conflicts between the United States and Iran, has increased uncertainty regarding energy supplies and international logistics.

In Japan, economic activity has continued to recover with the improvement of employment and income environment. However, uncertainty increased due to the impact of U.S. trade policies and the international situation.

In the chemical industry, domestic naphtha cracker operating rates remained low due to slowing demand for downstream products. Furthermore, the instability in the Middle East has heightened uncertainty surrounding energy supplies and raw material procurement.

Under these circumstances, the Mitsui Chemicals Group (hereinafter "the Group") has a philosophy that is to contribute broadly to society by providing high-quality products and services to customers through innovation and the creation of materials, while keeping in harmony with the global environment. The Group is also working to solve social challenges through its business activities by managing its business with ESG elements at its core. In addition, under the long-term management plan "VISION 2030" formulated in fiscal 2021, the Group is accelerating its transformation toward the future society that it envisions.

In Life & Healthcare Solutions, amid declining birthrates and aging populations in advanced countries as well as growing economies and increasing populations in emerging markets, people are growing ever more concerned about improving their quality of life (QOL) and social issues, such as food resource shortages. In vision care materials, an area in which the Group boasts the world-leading market share, Mitsui Chemicals, Inc. (hereinafter "the Company") has decided to relocate the headquarters of its subsidiary, SDC Technologies, Inc., (hereinafter "SDC") from Irvine to Rancho Santa Margarita in California, United States. SDC manufactures, sells, and conducts research on high-performance coating materials and coating equipment that contribute to longer eyeglass lens life, as well as anti-fog and photochromic functionality. This relocation aims to significantly strengthen SDC's research and development and manufacturing capabilities. In addition, to develop the medical sector as the third pillar of business, alongside the life care and wellness sectors, the Company conducted a tender offer for DNA Chip Research Inc. (hereinafter "DNA Chip Research"). As a result of the tender offer, DNA Chip Research has become a wholly owned subsidiary of the Company. DNA Chip Research specializes in advanced genetic analysis technology, allowing it to run such businesses as a diagnostic business, which provides genetic diagnosis services for diseases such as cancer, and a contracting business, which provides experimental analysis services for universities, research institutions and companies.

In Mobility Solutions, there has been diversified needs for lighter, more comfortable vehicles in the automotive industry in addition to a shift toward electric cars and an increased need for improved fuel economy. In the field of composite materials that contribute to lighter and higher-performance automobiles, the Group is deepening regional integration between development, production, and sales in the Americas, Europe, China, and India to provide for stronger regional ties across all composite materials. In addition to these efforts, the Group is also promoting product differentiation. Moreover, the Company has entered into a contract with Polyplastics Co., Ltd. (hereinafter "Polyplastics") for marketing operations related to ARLEN® and AURUM®, engineering plastic products known for their high heat resistance and other advanced performance characteristics. Through this collaboration, the Company aims to achieve further business growth by leveraging Polyplastics' customer network and solution capabilities to meet the growing demand for high-performance engineering plastics in the automotive, electrical and electronics sectors. This contract was comprehensively transferred

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on April 1, 2026, to Daicel Corporation, the parent company of Polyplastics, due to the group reorganization of Polyplastics.

In ICT Solutions, in line with the advance of global digitalization, such as high-speed telecommunications and the development of AI, the importance of evolution is increasing in the information, communication and technology (ICT) field regarding Beyond 5G and AI, which support safe and comfortable infrastructure and a sustainable global environment. For ICROS™ Tape, which is used in semiconductor manufacturing processes and experiencing growing demand driven by generative AI, the Group is capitalizing on its technical support capabilities to accelerate marketing toward peripheral domains. To support this effort, the Group has fitted its plant in Taiwan with evaluation and prototyping capabilities to flesh out a local development setup, in addition to the Creative Integration Lab.™, completed last year at the Nagoya Works. Moreover, the Group has advanced the development of Diffrar™ polymer wafers for waveguides used in augmented reality (AR) glasses, with a view to expanding the augmented and virtual reality markets. As a result, it has successfully developed the world's first (according to the Company's research) optical polymer wafers with refractive indices of 1.67 and 1.74 in a 12-inch size, specifically for AR glasses.

In Basic & Green Materials, the Group is promoting further restructuring and accelerating collaboration with other companies to realize a resilient entity that supports Japanese industry. Regarding ethylene production facilities, which are positioned upstream in the petrochemical industry, the Company has agreed to discontinue operations of the facility owned by Asahi Kasei Corporation and Mitsubishi Chemical Corporation in the Western Japan region and consolidate operations into the Group's facility targeting fiscal 2030. In addition, the Company has agreed to discontinue operations of the facility owned by Idemitsu Kosan Co., Ltd. (hereinafter "Idemitsu") in the Chiba region and consolidate operations into the Group's facility in July 2027, after the regular maintenance at Idemitsu's Chiba Complex. Moreover, with respect to the polyolefin business, which provides materials used in a wide range of applications such as automobiles, electronic materials, and medical devices, the Company has concluded a definitive agreement to integrate Sumitomo Chemical Co., Ltd.'s domestic polypropylene (PP) business and linear low-density polyethylene (LLDPE) business into Prime Polymer Co., Ltd., a joint venture between Idemitsu and the Company, and is proceeding with preparations toward the integration scheduled for July 2026.

The Group reported the operating results for fiscal 2025 as follows. The Group employs operating income before special items, which stands for operating income excluding non-recurring items (e.g., losses resulting from withdrawing from and/or downsizing businesses), as a management indicator.

(Billions of Yen)

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