Announcement • Jun 19
Mitsubishi Chemical Group Corporation to Report Q1, 2027 Results on Jul 31, 2026 Mitsubishi Chemical Group Corporation announced that they will report Q1, 2027 results on Jul 31, 2026 Board Change • May 20
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Outside Director of the Board Seiji Kuraishi was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • May 14
Mitsubishi Chemical Group Corporation, Annual General Meeting, Jun 24, 2026 Mitsubishi Chemical Group Corporation, Annual General Meeting, Jun 24, 2026. Announcement • Apr 15
Mitsubishi Chemical Group Corporation to Report Fiscal Year 2026 Results on May 13, 2026 Mitsubishi Chemical Group Corporation announced that they will report fiscal year 2026 results at 1:30 PM, Tokyo Standard Time on May 13, 2026 Announcement • Dec 23
Mitsubishi Chemical Group Corporation to Report Q3, 2026 Results on Feb 05, 2026 Mitsubishi Chemical Group Corporation announced that they will report Q3, 2026 results on Feb 05, 2026 Announcement • Sep 25
Mitsubishi Chemical Group Corporation to Report Q2, 2026 Results on Oct 31, 2025 Mitsubishi Chemical Group Corporation announced that they will report Q2, 2026 results on Oct 31, 2025 Announcement • Jun 26
Mitsubishi Chemical Group Corporation to Report Q1, 2026 Results on Aug 01, 2025 Mitsubishi Chemical Group Corporation announced that they will report Q1, 2026 results on Aug 01, 2025 Announcement • May 14
Mitsubishi Chemical Group Corporation (TSE:4188) announces an Equity Buyback for 100,000,000 shares, representing 7.03% for ¥50,000 million. Mitsubishi Chemical Group Corporation (TSE:4188) announces a share repurchase program. Under the program, the company will repurchase 100,000,000 shares, representing 7.03% of the outstanding shares for ¥50,000 million. The purpose of the program is to strengthen shareholder returns and improve capital efficiency. The repurchased shares will be cancelled to increase shareholder value over the medium to long term. The program will run until May 13, 2026. As of March 31, 2025, the company had 1,423,186,034 shares outstanding and 83,102,073 shares in treasury. Announcement • Mar 26
Mitsubishi Chemical Group Corporation to Report Fiscal Year 2025 Results on May 13, 2025 Mitsubishi Chemical Group Corporation announced that they will report fiscal year 2025 results on May 13, 2025 Announcement • Feb 07
Bain Capital Private Equity, LP signed a definitive agreement to acquire Mitsubishi Tanabe Pharma Corporation from Mitsubishi Chemical Group Corporation (TSE:4188) for approximately ¥510 billion. Bain Capital Private Equity, LP signed a definitive agreement to acquire Mitsubishi Tanabe Pharma Corporation from Mitsubishi Chemical Group Corporation (TSE:4188) for approximately ¥510 billion on February 7, 2025. A cash consideration of ¥510 billion will be paid by Bain Capital Private Equity, LP. As part of consideration, ¥510 billion is paid towards common equity of Mitsubishi Tanabe Pharma Corporation. The final transfer price will be determined after a price adjustment specified in the purchase agreement. Following the Transfer, MTPC and its subsidiaries (sub-subsidiaries of MCG) Medicago Inc., Welfide International Corporation, and Alpha Therapeutic Corporation will no longer be specified subsidiaries of MCG. As an independent company, Tanabe Pharma will continue to build on its legacy of medical innovation while developing new opportunities for growth through business development, licensing activities, enhanced R&D productivity, commercialization and strategic acquisitions, supported by Bain Capital investment. MCG intends to use the proceeds for growth investment in the five business focus areas outlined in KAITEKI Vision 35, as well as other new growth investments, repay interest bearing debt and shareholder returns.
The completion of the Transfer is expected in the second quarter of FY 3/2026, subject to certain conditions including approval of the Transfer at MCG’s annual shareholders’ meeting and Bain Capital’s shareholder approvals, obtainment of necessary clearance and approval pursuant to the competition laws and related laws and regulations of Japan and other relevant jurisdictions.
Mitsubishi UFJ Morgan Stanley Securities and BofA Securities are serving as financial advisors, and Morrison Foerster, Mori, Hamada & Matsumoto and Ropes & Gray are serving as legal advisors to Bain Capital. Announcement • Jan 17
Mitsubishi Chemical Group Corporation to Report Q3, 2025 Results on Feb 06, 2025 Mitsubishi Chemical Group Corporation announced that they will report Q3, 2025 results on Feb 06, 2025 Announcement • Dec 12
Mitsubishi Chemical Group Corporation Announces Representative Corporate Executive Officer Changes, Effective April 1, 2025 Mitsubishi Chemical Group Corporation announced that, at its Board of Directors meeting held on December 12, 2024, it has decided to make the following change to its Representative Corporate Executive Officer. Name: Isao Yano. Current Post: Corporate Executive Officer, Senior Vice President, Chief Compliance Officer (Supervising - Internal Control and Risk Management, Audit). New Post: Representative Corporate Executive Officer, Chief Compliance Officer. Name: Yasuo Shimodaira. Current post: Representative Corporate Executive Officer, Executive Vice President (Head of Basic Materials & Polymers). New Post: Representative Director, Managing Executive Officer Mitsubishi Chemical Corporation. Isao Yano (Date of birth: August 17, 1965) 1989 - Joined Mitsubishi Petrochemical Co. Ltd. (currently Mitsubishi Chemical Corporation). 2020 - Executive Officer, Head of Healthcare Legal Affairs Office, Mitsubishi Chemical Holdings Corporation (currently Mitsubishi Chemical Group Corporation). 2021 - Executive Officer, Head of Business Legal Affairs Office, Mitsubishi Chemical Holdings Corporation (currently Mitsubishi Chemical Group Corporation). 2024 - Corporate Executive Officer, Senior Vice President, Mitsubishi Chemical Group Corporation Chief Compliance Officer (Supervising - Internal Control and Risk Management, Audit) (current post). Scheduled date of change: April 1, 2025. Reason for the change: Changes in the management structure. Announcement • Nov 28
Aon plc (NYSE:AON) agreed to acquire insurance agency business of Mitsubishi Chemical Group from Mitsubishi Chemical Group Corporation (TSE:4188). Aon plc (NYSE:AON) agreed to acquire insurance agency business of Mitsubishi Chemical Group from Mitsubishi Chemical Group Corporation (TSE:4188) on November 26, 2024.
The expected completion of the transaction is early 2025. Reported Earnings • Nov 02
Second quarter 2025 earnings released: EPS: JP¥0.89 (vs JP¥17.35 in 2Q 2024) Second quarter 2025 results: EPS: JP¥0.89 (down from JP¥17.35 in 2Q 2024). Revenue: JP¥1.11t (up 2.2% from 2Q 2024). Net income: JP¥1.27b (down 95% from 2Q 2024). Profit margin: 0.1% (down from 2.3% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 13% per year whereas the company’s share price has fallen by 12% per year. Announcement • Oct 12
Mitsubishi Chemical Reportedly Joins BGC Competition Speculation is mounting that the Mitsubishi Chemical Group Corporation (TSE:4188) is pursuing the assets being sold by Buckeridge Group of Companies (BGC (Australia) PTY Ltd.) (BGC). As earlier reported by DataRoom, bids are due next week for the $800 million Perth-based BGC building materials portfolio. Investment bank Macquarie Capital is working on the deal. Last time the business was up for grabs, the country's building materials provider, Boral (Boral Limited), and Cement Australia (Cement Australia Pty Limited), a joint venture owned by Holcim and Hanson, were believed to be the keenest suitors. Suggestions are that the BGC unit on offer could be earning between $60 million and $80 million annually, which could put a price tag of $600 million to $800 million on the operation, based on its aspirations to achieve a price of 10 times its earnings. On offer are BGC's highly sought-after West Australian cement grinding terminal, quarries and concrete businesses. Analysts say building materials are attractive to offshore groups because of the lack of housing supply. Announcement • Sep 26
Mitsubishi Chemical Group Corporation to Report Q2, 2025 Results on Nov 01, 2024 Mitsubishi Chemical Group Corporation announced that they will report Q2, 2025 results on Nov 01, 2024 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 04 December 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.0%). Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥27.87 (vs JP¥29.91 in 1Q 2024) First quarter 2025 results: EPS: JP¥27.87 (down from JP¥29.91 in 1Q 2024). Revenue: JP¥1.13t (up 6.4% from 1Q 2024). Net income: JP¥39.7b (down 6.8% from 1Q 2024). Profit margin: 3.5% (down from 4.0% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Board Change • Jul 21
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Independent Outside Director Geoffrey Coates was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Jul 11
Final dividend of JP¥16.00 announced Shareholders will receive a dividend of JP¥16.00. Ex-date: 27th September 2024 Payment date: 4th December 2024 Dividend yield will be 310%, which is higher than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (38% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased by an average of 10% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 2 highly experienced directors. Director Nobuo Fukuda was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 27
Mitsubishi Chemical Group Corporation to Report Q1, 2025 Results on Aug 01, 2024 Mitsubishi Chemical Group Corporation announced that they will report Q1, 2025 results on Aug 01, 2024 Announcement • May 17
Mitsubishi Chemical Group Corporation, Annual General Meeting, Jun 25, 2024 Mitsubishi Chemical Group Corporation, Annual General Meeting, Jun 25, 2024. Reported Earnings • May 16
Full year 2024 earnings released: EPS: JP¥84.08 (vs JP¥67.57 in FY 2023) Full year 2024 results: EPS: JP¥84.08 (up from JP¥67.57 in FY 2023). Revenue: JP¥4.39t (down 5.3% from FY 2023). Net income: JP¥119.6b (up 25% from FY 2023). Profit margin: 2.7% (up from 2.1% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Mar 27
Mitsubishi Chemical Group Corporation to Report Fiscal Year 2024 Results on May 15, 2024 Mitsubishi Chemical Group Corporation announced that they will report fiscal year 2024 results on May 15, 2024 Upcoming Dividend • Mar 21
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 06 June 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.9%). Announcement • Feb 22
Mitsubishi Chemical Group Corporation Appoints Yasuo Shimodaira as Executive Vice President, Head of Basic Materials & Polymers, Effective April 1, 2024 Mitsubishi Chemical Group Corporation announced that, at the meeting of its Board of Directors held it resolved change of representative corporate executive officers as outlined below. Name and position of Appointed Representative Corporate Executive Officer Name: Yasuo Shimodaira Position: Representative Corporate Executive Officer, Executive Vice President, Head of Basic Materials & Polymers. Yasuo Shimodaira (Date of birth: September 1, 1966, Number of shares held: 4,400). 1990: Joined Mitsubishi Kasei Corporation (currently, Mitsubishi Chemical Corporation). 2017: General Manager, Petrochemical Planning Department, Petrochemical Planning Division, Mitsubishi Chemical Corporation, 2020: Director, Semiconductor Headquarters, Information & Display Division, 2023: Director, China Div., Specialty Materials Business Group, the Mitsubishi Chemical Group (current position). Date of change: April 1, 2024. Due to change in management structure. New Risk • Feb 16
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 32% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 3.9% per year for the foreseeable future. Minor Risks High level of debt (85% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Announcement • Feb 08
Mitsubishi Chemical Group Corporation Announces Retirement of Kouji Eguchi,Representative Corporate Executive Officer, Effective March 31, 2024 Mitsubishi Chemical Group Corporation announced change(retirement) of representative corporate executive officer, following the resolution at the Board of Directors meeting held on February 08, 2024 to appoint executive officers as of April 1, 2024. Name and position of retiring Representative Corporate Executive Officer: Name: Kouji Eguchi; Position: Representative Corporate Executive Officer, Senior Vice President, Chief Supply Chain Officer; Date of change is March 31, 2024. Reason for the change: (retirement) Due to change in management structure. Reported Earnings • Feb 07
Third quarter 2024 earnings released: EPS: JP¥25.77 (vs JP¥40.02 loss in 3Q 2023) Third quarter 2024 results: EPS: JP¥25.77 (up from JP¥40.02 loss in 3Q 2023). Revenue: JP¥1.10t (down 3.6% from 3Q 2023). Net income: JP¥36.7b (up JP¥93.6b from 3Q 2023). Profit margin: 3.3% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Feb 06
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 7.2% to €5.42. The fair value is estimated to be €6.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings are also forecast to grow by 9.8% per annum over the same time period. Buying Opportunity • Dec 26
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 8.4%. The fair value is estimated to be €6.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.1% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Announcement • Dec 24
Mitsubishi Chemical Group Corporation to Report Q3, 2024 Results on Feb 06, 2024 Mitsubishi Chemical Group Corporation announced that they will report Q3, 2024 results on Feb 06, 2024 New Risk • Nov 19
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 46% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.0% net profit margin). Reported Earnings • Nov 02
Second quarter 2024 earnings released: EPS: JP¥17.35 (vs JP¥20.44 in 2Q 2023) Second quarter 2024 results: EPS: JP¥17.35 (down from JP¥20.44 in 2Q 2023). Revenue: JP¥1.09t (down 6.4% from 2Q 2023). Net income: JP¥24.7b (down 15% from 2Q 2023). Profit margin: 2.3% (down from 2.5% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Oct 28
Roquette Frères S.A. completed the acquisition of Qualicaps Co., Ltd. from Mitsubishi Chemical Group Corporation (TSE:4188). Roquette Frères S.A. agreed to acquire Qualicaps Co., Ltd. from Mitsubishi Chemical Group Corporation (TSE:4188) on July 28, 2023. The closing of the transfer is expected to occur between October and December 2023. Cleary Gottlieb is representing Roquette Frères SA.
Roquette Frères S.A. completed the acquisition of Qualicaps Co., Ltd. from Mitsubishi Chemical Group Corporation (TSE:4188) on October 26, 2023. Buying Opportunity • Oct 05
Now 21% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be €6.77, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 63%. For the next 3 years, revenue is forecast to grow by 1.8% per annum. Earnings is also forecast to grow by 10% per annum over the same time period. Announcement • Sep 27
Mitsubishi Chemical Group Corporation to Report Q2, 2024 Results on Nov 01, 2023 Mitsubishi Chemical Group Corporation announced that they will report Q2, 2024 results on Nov 01, 2023 Announcement • Jul 29
Roquette Frères S.A. agreed to acquire Qualicaps Co., Ltd.from Mitsubishi Chemical Group Corporation (TSE:4188). Roquette Frères S.A. agreed to acquire Qualicaps Co., Ltd. from Mitsubishi Chemical Group Corporation (TSE:4188) on July 28, 2023. The closing of the transfer is expected to occur between October and December 2023. Cleary Gottlieb is representing Roquette Frères SA. Announcement • Jun 30
Mitsubishi Chemical Group Corporation Announces Corporate Split in Tandem with Intergroup Organizational Restructuring The Mitsubishi Chemical Group announces it has decided to embark on intergroup organizational restructuring that will involve MCG, consolidated subsidiary Mitsubishi Chemical Corporation (hereinafter "MCC"; Head office: Chiyoda-ku, Tokyo; Representative directors: Kouji Eguchi and Manabu Chikumoto), and two subsidiaries* of the group in Singapore. Note that, given this is a corporate split (simple/simplified absorption split) targeting MCG and its wholly-owned subsidiaries, this disclosure omits certain disclosure matters and details. The names of the two subsidiaries of the group in Singapore are as follows: Subsidiary directly invested in by MCG Mitsubishi Chemical APAC Pte. Ltd. (President: Hidefumi Shigemi, Location: Singapore, hereinafter "MC APAC") Subsidiary directly invested in by MCCMitsubishi Chemical Singapore Pte. Ltd. (President: Shintaro Yajima; Location: Singapore). In accordance with "Forging the future," the management policy for the period FY2021-FY2025, MCG has been transitioning to a flat organizational system based on the "One Company, One Team" concept. In conjunction with this transition, MCG aims to improve its management efficiency in Singapore by reshuffling, concentrating and optimizing the functions currently divided between a subsidiary directly invested in by MCG and a subsidiary directly invested in by MCC. MCG aims to maximize the group's corporate value. This is in accordance with a clear-cut strategy for business management that pursues efficiency and which extracts the growth potential of group businesses. The organizational restructuring of the group's subsidiaries in Singapore shall be carried out as follows by October 2023. This will be an absorption split with MCG as the split company and MCC as the succeeding company. Reflecting this, MCC will acquire all the shares and management operations of MC APAC. MCS and MC APAC will be merged in Singapore to integrate the group's subsidiaries in Singapore. The details, including the schedule and method, of this merger will be taken into consideration moving forward. Announcement • Jun 26
Mitsubishi Chemical Group Corporation to Report Q1, 2024 Results on Aug 02, 2023 Mitsubishi Chemical Group Corporation announced that they will report Q1, 2024 results on Aug 02, 2023 Buying Opportunity • May 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 4.4%. The fair value is estimated to be €6.52, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 68%. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Announcement • May 19
Mitsubishi Chemical Group Corporation Announces Dividend for the Year Ended March 31, 2023 Mitsubishi Chemical Group Corporation announced that its Board of Directors resolved to distribute dividends from surplus, as of the record date of March 31, 2023. The company announced dividend of JPY 15.00 per share for the year ended March 31, 2023 compared to JPY 15.00 per share paid a year ago. Effective date is June 6, 2023. Reported Earnings • May 17
Full year 2023 earnings released: EPS: JP¥67.57 (vs JP¥125 in FY 2022) Full year 2023 results: EPS: JP¥67.57 (down from JP¥125 in FY 2022). Revenue: JP¥4.63t (up 17% from FY 2022). Net income: JP¥96.1b (down 46% from FY 2022). Profit margin: 2.1% (down from 4.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 3.1% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share at 3.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 05 June 2023. Payout ratio is a comfortable 59% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.7%). Announcement • Feb 17
Mitsubishi Chemical Group Corporation Revises Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2023 Mitsubishi Chemical Group Corporation revised consolidated earnings guidance for the fiscal year ending March 31, 2023. For the year, company revised Sales revenue of JPY 4,640.0 million compared to previous guidance of JPY 4,514.0 million, Core operating income of JPY 326.0 million compared to previous guidance of JPY 200.0 million, Operating income of JPY 200.0 million compared to previous guidance of JPY 71.0 million, Net income of JPY 155.0 million compared to previous guidance of JPY 65.0 million, Net income attributable to owners of the parent of JPY 118.0 million compared to previous guidance of JPY 28.0 million and Basic earnings per share of JPY 83.00 compared to previous guidance of JPY 19.69. Reported Earnings • Feb 08
Third quarter 2023 earnings released: JP¥40.02 loss per share (vs JP¥26.01 profit in 3Q 2022) Third quarter 2023 results: JP¥40.02 loss per share (down from JP¥26.01 profit in 3Q 2022). Revenue: JP¥1.14t (up 12% from 3Q 2022). Net loss: JP¥56.9b (down 254% from profit in 3Q 2022). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 1.6% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Buying Opportunity • Jan 25
Now 20% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be €6.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Earnings per share has grown by 57%. For the next 3 years, revenue is forecast to grow by 1.6% per annum. Earnings is also forecast to grow by 5.2% per annum over the same time period. Announcement • Jan 20
Mitsubishi Chemical Group Corporation Announces Executive Changes, Effective April 1, 2023 Mitsubishi Chemical Group Corporation announced that its Board of Directors meeting held on January 20, 2023, passed a resolution on personnel changes with regard to the Representative Corporate Executive Officer. Nobuo Fukuda is retiring as Representative Corporate Executive Officer, Executive Vice President, Chief Supply Chain Officer and Kouji Eguchi, the current Director, Operation for Japan Supply Chain, is appointed as Representative Corporate Executive Officer, Senior Vice President, Chief Supply Chain Officer. Kouji Eguchi have joined Mitsubishi Chemical Industries Limited (currently, Mitsubishi Chemical Corporation) in 1986. He was appointed as Executive Officer, General Manager of Performance Materials Div., in 2018, and Managing Executive Officer, Head of High-performance Chemicals Domain, Mitsubishi Chemical Corporation in 2019 and currently serves as Director, Operation for Japan, Supply Chain, the Mitsubishi Chemical Group. Scheduled Date of the Personnel Changes is April 1, 2023. Reason for the Personnel Changes is Changes in the management structure. Announcement • Dec 26
Mitsubishi Chemical Group Corporation to Report Q3, 2023 Results on Feb 07, 2023 Mitsubishi Chemical Group Corporation announced that they will report Q3, 2023 results on Feb 07, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥20.44 (vs JP¥24.80 in 2Q 2022) Second quarter 2023 results: EPS: JP¥20.44 (down from JP¥24.80 in 2Q 2022). Revenue: JP¥1.16t (up 22% from 2Q 2022). Net income: JP¥29.1b (down 18% from 2Q 2022). Profit margin: 2.5% (down from 3.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 09
Second quarter 2023 earnings released: EPS: JP¥20.44 (vs JP¥24.80 in 2Q 2022) Second quarter 2023 results: EPS: JP¥20.44 (down from JP¥24.80 in 2Q 2022). Revenue: JP¥1.16t (up 22% from 2Q 2022). Net income: JP¥29.1b (down 18% from 2Q 2022). Profit margin: 2.5% (down from 3.7% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, while revenues in the Chemicals industry in Germany are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 02 December 2022. Payout ratio is a comfortable 25% but the company is paying out more than the cash it is generating. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.1%). Reported Earnings • Aug 04
First quarter 2023 earnings released: EPS: JP¥31.58 (vs JP¥35.14 in 1Q 2022) First quarter 2023 results: EPS: JP¥31.58 (down from JP¥35.14 in 1Q 2022). Revenue: JP¥1.11t (up 19% from 1Q 2022). Net income: JP¥44.9b (down 10% from 1Q 2022). Profit margin: 4.1% (down from 5.4% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 7.8%, compared to a 3.7% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Jul 31
High number of new directors Representative Corporate Executive Officer, President, CEO & Director Jean-Marc Gilson was the last director to join the board, commencing their role in 2021. Reported Earnings • May 15
Full year 2022 earnings released: EPS: JP¥125 (vs JP¥5.32 loss in FY 2021) Full year 2022 results: EPS: JP¥125 (up from JP¥5.32 loss in FY 2021). Revenue: JP¥3.98t (up 22% from FY 2021). Net income: JP¥177.2b (up JP¥184.7b from FY 2021). Profit margin: 4.5% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 6.8%, compared to a 6.4% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 1% per year. Board Change • Apr 27
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 5 independent directors. 7 non-independent directors. Independent Outside Director Takako Masai was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥15.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 03 June 2022. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (4.8%). Reported Earnings • Feb 04
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥26.01 (up from JP¥1.31 in 3Q 2021). Revenue: JP¥1.02t (up 19% from 3Q 2021). Net income: JP¥37.0b (up JP¥35.1b from 3Q 2021). Profit margin: 3.6% (up from 0.2% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 5.2%, compared to a 5.9% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Nov 03
Second quarter 2022 earnings released: EPS JP¥24.80 (vs JP¥38.63 loss in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥956.8b (up 22% from 2Q 2021). Net income: JP¥35.2b (up JP¥90.1b from 2Q 2021). Profit margin: 3.7% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 72 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 02 December 2021. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.7%). Reported Earnings • Aug 05
First quarter 2022 earnings released: EPS JP¥35.13 (vs JP¥3.64 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥928.3b (up 28% from 1Q 2021). Net income: JP¥49.9b (up JP¥44.7b from 1Q 2021). Profit margin: 5.4% (up from 0.7% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Reported Earnings • May 13
Full year 2021 earnings released: JP¥5.32 loss per share (vs JP¥26.19 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: JP¥3.26t (down 9.0% from FY 2020). Net loss: JP¥7.56b (down 120% from profit in FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥12.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 10 June 2021. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.6%). Announcement • Mar 12
Mitsubishi Chemical Holdings Corporation to Report Fiscal Year 2021 Results on May 12, 2021 Mitsubishi Chemical Holdings Corporation announced that they will report fiscal year 2021 results on May 12, 2021 Is New 90 Day High Low • Mar 06
New 90-day high: €6.00 The company is up 24% from its price of €4.84 on 04 December 2020. The German market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.24 per share. Announcement • Feb 25
Mitsubishi Chemical Holdings Corporation Announces Changes in Representative Corporate Executive Officers Mitsubishi Chemical Holdings Corporation announces that a new Representative Corporate Executive Officer was selected at the Board of Directors meeting held February 25, 2021, due to the retirement of one of the Representative Corporate Executive Officers effective March 31, 2021. Yoshihiro Ikegawa, Managing Corporate Executive Officer was appointed as Representative Corporate Executive Officer, Managing Corporate Executive Officer. Scheduled Date of Appointment is April 1, 2021. Reported Earnings • Feb 05
Third quarter 2021 earnings released: EPS JP¥1.31 (vs JP¥3.55 loss in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥850.6b (down 5.8% from 3Q 2020). Net income: JP¥1.86b (up JP¥6.90b from 3Q 2020). Profit margin: 0.2% (up from net loss in 3Q 2020). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 78% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 05
Revenue beats expectations Revenue exceeded analyst estimates by 3.5%. Over the next year, revenue is forecast to grow 4.2%, compared to a 5.1% growth forecast for the Chemicals industry in Germany. Announcement • Feb 03
Mitsubishi Chemical Holdings Corporation Revises Earnings Guidance for the Fiscal 2020 Mitsubishi Chemical Holdings Corporation provided earnings guidance for the fiscal 2020. For the period, the company now expects Sales revenue of JPY 3,193,000 million, Operating income of JPY 23,000 million and Net loss attributable to owners of the parent of JPY 48,000 million or basic LPS of JPY 33.80 against previous forecast Sales revenue of JPY 3,175,000 million, Operating income of JPY 4,000 million and Net loss attributable to owners of the parent of JPY 59,000 million or basic LPS of JPY 41.54. Is New 90 Day High Low • Jan 09
New 90-day high: €5.15 The company is up 10.0% from its price of €4.68 on 09 October 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Chemicals industry, which is up 17% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €7.21 per share. Announcement • Dec 19
Mitsubishi Chemical Holdings Corporation to Report Q3, 2021 Results on Feb 03, 2021 Mitsubishi Chemical Holdings Corporation announced that they will report Q3, 2021 results on Feb 03, 2021 Reported Earnings • Nov 14
Second quarter 2021 earnings released: JP¥38.63 loss per share The company reported a poor second quarter result with weaker earnings, revenues and control over expenses. Second quarter 2021 results: Revenue: JP¥782.1b (down 14% from 2Q 2020). Net loss: JP¥54.9b (down 303% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Nov 14
Revenue beats expectations Revenue exceeded analyst estimates by 0.5%. Over the next year, revenue is forecast to grow 1.3%, compared to a 3.6% growth forecast for the Chemicals industry in Germany. Is New 90 Day High Low • Nov 07
New 90-day low: €4.54 The company is down 3.0% from its price of €4.68 on 07 August 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €6.72 per share. Analyst Estimate Surprise Post Earnings • Nov 07
Revenue beats expectations Revenue exceeded analyst estimates by 0.5%. Over the next year, revenue is forecast to grow 1.3%, compared to a 2.8% growth forecast for the Chemicals industry in Germany. Reported Earnings • Nov 07
Second quarter 2021 earnings released: JP¥38.63 loss per share The company reported a poor second quarter result with weaker earnings, revenues and control over expenses. Second quarter 2021 results: Revenue: JP¥782.1b (down 14% from 2Q 2020). Net loss: JP¥54.9b (down 303% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. Announcement • Sep 25
Mitsubishi Chemical Holdings Corporation to Report Q2, 2021 Results on Nov 04, 2020 Mitsubishi Chemical Holdings Corporation announced that they will report Q2, 2021 results on Nov 04, 2020 Is New 90 Day High Low • Sep 23
New 90-day high: €5.50 The company is up 3.0% from its price of €5.35 on 25 June 2020. The German market is also up 3.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Chemicals industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.18 per share. 
