Business Strategy Briefing 2026NEW

Mitsubishi Chemical Group

Business Strategy Briefing 2026

May 25, 2026

Manabu Chikumoto

President & Chief Executive Officer Mitsubishi Chemical Group Corporation

1. FY25 Review
2. FY26 Outlook: From Defense to Offense

   2

3. FY26 Business Strategy

1. FY25 Review

   • FY25 results

   • Final phase of structural reform

   • Foundations for growth beyond FY26

2. FY26 Outlook: From Defense to Offense

   3

3. FY26 Business Strategy

FY25 results: Group core operating income

• FY25 results in the Chemicals business were challenging due to the recognition of an impairment loss on fixed assets related to Soarnol in the UK and deterioration in MMA monomer market conditions, but Industrial Gases remained solid, resulting in performance broadly in line with the previous fiscal year.

  
  
  

• Continue to focus on accelerating growth in Specialty Materials and restructuring the materials business to deliver FY29 target

Mitsubishi Chemical Group

Core operating income (Oku yen)

Chemicals Industrial Gases

Chemicals

Industrial Gases

Core operating margin

10%Mitsubishi Chemical Group Core operating income margin

230

2,120

4,600

Core operating margin

6%

2,288

Core operating margin

6%

2,250

1,479

427 243

FY23*1

FY24*1

FY25

FY29 Target

1. Mitsubishi Chemical Group Corporation

   *1 Adjusted by reclassifying Pharma as a discontinued business

   
   
   FY25 results and FY26 forecast: Specialty Materials

   Core

   operating

   10%

   margin

   • In FY25, an impairment loss of approximately 30 billion yen was recognized following the review of the UK Soarnol investment plan. Specialty Materials*1 remained generally solid excluding this impact, reaching a level close to the forecast (65 billion yen*2).

   • In FY26, Specialty Materials*2 is expected to make steady progress in strengthening its revenue base and achieve business growth through the continued execution of three key initiatives, in addition to the results

     
     
     

     achieved through the structural reform implemented over the past two years.

     FY25 FY26

     Specialty Materials

     Core operating income

     (Oku yen) *2

     Core

     Core operating margin

     FY27-FY29

     Key initiatives

     • Realization of investment effects

     Specialty Materials
     
     

     • Impairment loss on Soarnol-related fixed assets in the U.K. (303)

Core operating income margin

Core operating margin

2%

220

Core operating margin

3%

operating margin

4%

303

8%

Higher fixed costs and other factors

Contribution from

the "Three disciplined approaches in business operations"*5

1550

FY23

FY24

Contribution from

the "Three disciplined approaches in business operations"*5

FY25 FY25*4

FY26

FY29

Before organizational Structure change

After organizational structure change

Forecast*4

Target*4

*1 Advanced Films & Polymers, Advanced Solutions, Advanced Composite & Shapes

*2 Earnings forecast announced on October 31, 2025

*3 Films & Performance Materials, Composites & Shapes. Information Electronics, Polymer Compounds, Water & Infrastructure

1. Mitsubishi Chemical Group Corporation *4 Figures are presented based on reclassified reporting segment categories applicable from FY26 onward, in line with the organizational restructuring effective April 1, 2026.

*5 Excluding effects arising in the Corporate sector