Reported Earnings • Aug 09
First quarter 2027 earnings released: EPS: JP¥94.02 (vs JP¥43.17 in 1Q 2026) First quarter 2027 results: EPS: JP¥94.02 (up from JP¥43.17 in 1Q 2026). Revenue: JP¥223.7b (up 26% from 1Q 2026). Net income: JP¥18.3b (up 118% from 1Q 2026). Profit margin: 8.2% (up from 4.7% in 1Q 2026). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Declared Dividend • Jul 26
Final dividend of JP¥55.00 announced Shareholders will receive a dividend of JP¥55.00. Ex-date: 29th September 2026 Payment date: 7th December 2026 Dividend yield will be 238%, which is higher than the industry average of 6.1%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months and having no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 13% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. New Risk • Jul 19
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Minor Risk Share price has been volatile over the past 3 months (8.0% average weekly change). Board Change • Jul 01
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Outside Director Mihoko Manabe was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • May 14
Mitsubishi Gas Chemical Company, Inc., Annual General Meeting, Jun 25, 2026 Mitsubishi Gas Chemical Company, Inc., Annual General Meeting, Jun 25, 2026. Announcement • Feb 21
Mitsubishi Gas Chemical Company, Inc. Announces Discontinuation of Construction Work At MGC Specialty Chemicals Netherlands B.V Mitsubishi Gas Chemical Company, Inc. announced that it has decided at its Board of Directors meeting held on February 20, 2026 to discontinue construction work that had been implemented at MGC Specialty Chemicals Netherlands B.V., a consolidated subsidiary in the Netherlands, to establish a meta-xylenediamine (MXDA) production facility. Details follow. As announced on September 17, 2025, MSCN decided to temporarily suspend construction work of this MXDA production facility due to construction schedule delays, a significant increase in construction costs, intensifying market competition, and other changes in the business environment. Following this decision, MGC assessed the recoverable value of MSCN's noncurrent assets and thus recorded impairment losses associated with these noncurrent assets. These were publicly disclosed on November 10, 2025 and February 10, 2026 in conjunction with the financial results announcements for the first half and first nine months, respectively, of the fiscal year ending March 31, 2026. Since then, MGC has considered a variety of options, including resuming construction work and partnering with an external company. However, MGC has concluded that the production and sale of MXDA would not allow MSCN to secure sufficient profit even if the facility in question were to be completed. Thus, MGC decided to discontinue said construction work. Looking ahead, MGC intends to launch procedures toward the shutdown of the facility, including the removal of its equipment, which the Company aims to finish by the end of 2029. MGC Specialty Chemicals Netherlands B.V. is located at Theemsweg 5, 3197 KM Botlek Rotterdam, Kingdom of the Netherlands. The company is represented by Masatoshi Sato, Managing Director, and was established in January 2021. Its business operations consist of the manufacture and sale of MXDA. The initial scheduled production start is July 2024, with a production capacity of 25,000 MTA. The company has a capital of EUR 20 million and is 100% owned by MGC. It is a specified subsidiary of the listed company. Announcement • Jun 03
Mitsubishi Gas Chemical Company, Inc. to Report Q1, 2026 Results on Aug 07, 2025 Mitsubishi Gas Chemical Company, Inc. announced that they will report Q1, 2026 results on Aug 07, 2025 Announcement • Mar 08
Mitsubishi Gas Chemical Company, Inc. to Report Fiscal Year 2025 Results on May 12, 2025 Mitsubishi Gas Chemical Company, Inc. announced that they will report fiscal year 2025 results on May 12, 2025 Announcement • Feb 13
Mitsubishi Gas Chemical Company, Inc. Announces Retirement of Nobuhisa Ariyoshi from Current Position, Representative Director, Senior Managing Executive Officer, Effective After April 1, 2025 Mitsubishi Gas Chemical Company, Inc. at its Board of Directors meeting on February 13, 2025, decided on the retirement of Nobuhisa Ariyoshi from current position, Representative Director, Senior Managing Executive Officer. Position after retirement would be Director. The changes result from the new management system after April 1, 2025. Announcement • Feb 03
Mitsubishi Gas Chemical Company, Inc. Announces Retirement of Toshikiyo Kurai from Current Position, Representative Director, Chairman At its meeting on February 3, 2025, the Board of Directors of Mitsubishi Gas Chemical Company, Inc. (MGC) decided on the retirement of Toshikiyo Kurai from current position, Representative Director, Chairman. Position after retirement would be Director. Scheduled date of personnel change is April 1, 2025. Announcement • Dec 06
Mitsubishi Gas Chemical Company, Inc. to Report Q3, 2025 Results on Feb 13, 2025 Mitsubishi Gas Chemical Company, Inc. announced that they will report Q3, 2025 results on Feb 13, 2025 Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: JP¥64.87 (vs JP¥55.67 in 2Q 2024) Second quarter 2025 results: EPS: JP¥64.87 (up from JP¥55.67 in 2Q 2024). Revenue: JP¥200.0b (down 5.9% from 2Q 2024). Net income: JP¥13.0b (up 14% from 2Q 2024). Profit margin: 6.5% (up from 5.4% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.0% 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 12% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Nov 08
Mitsubishi Gas Chemical Company, Inc. (TSE:4182) announces an Equity Buyback for 5,600,000 shares, representing 2.8% for ¥15,000 million. Mitsubishi Gas Chemical Company, Inc. (TSE:4182) announces a share repurchase program. Under the program, the company will repurchase up to 5,600,000 shares, representing 2.8% of its issued share capital (excluding treasury stock), for ¥15,000 million. The purpose of the program is to improve shareholder value over the medium to long term. The repurchased shares will be cancelled. The program will run until March 24, 2025. As of September 30, 2024, the company had 200,262,986 shares in issue (excluding treasury stock) and 16,976,213 shares in treasury. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 06 December 2024. Payout ratio is a comfortable 53% but the company is not cash flow positive. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.0%). Announcement • Aug 29
Mitsubishi Gas Chemical Company, Inc. to Report Q2, 2025 Results on Nov 08, 2024 Mitsubishi Gas Chemical Company, Inc. announced that they will report Q2, 2025 results on Nov 08, 2024 Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: JP¥58.60 (vs JP¥97.00 in 1Q 2024) First quarter 2025 results: EPS: JP¥58.60 (down from JP¥97.00 in 1Q 2024). Revenue: JP¥188.1b (flat on 1Q 2024). Net income: JP¥11.7b (down 41% from 1Q 2024). Profit margin: 6.2% (down from 11% in 1Q 2024). Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. New Risk • Aug 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Aug 06
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to €13.80, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 12x in the Chemicals industry in Germany. Total loss to shareholders of 11% over the past three years. Declared Dividend • Jul 11
Final dividend of JP¥45.00 announced Shareholders will receive a dividend of JP¥45.00. Ex-date: 27th September 2024 Payment date: 6th December 2024 Dividend yield will be 257%, which is higher than the industry average of 6.1%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 14% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 48% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 06
Mitsubishi Gas Chemical Company, Inc. to Report Q1, 2025 Results on Aug 07, 2024 Mitsubishi Gas Chemical Company, Inc. announced that they will report Q1, 2025 results on Aug 07, 2024 Reported Earnings • May 13
Full year 2024 earnings released: EPS: JP¥191 (vs JP¥239 in FY 2023) Full year 2024 results: EPS: JP¥191 (down from JP¥239 in FY 2023). Revenue: JP¥813.4b (up 4.1% from FY 2023). Net income: JP¥38.8b (down 21% from FY 2023). Profit margin: 4.8% (down from 6.3% in FY 2023). Revenue is forecast to grow 1.7% 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 2% per year whereas the company’s share price has fallen by 3% per year. Announcement • May 12
Mitsubishi Gas Chemical Company, Inc., Annual General Meeting, Jun 25, 2024 Mitsubishi Gas Chemical Company, Inc., Annual General Meeting, Jun 25, 2024. Buy Or Sell Opportunity • Mar 28
Now 20% undervalued Over the last 90 days, the stock has risen 7.1% to €15.00. The fair value is estimated to be €18.83, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 8.7%. For the next 3 years, revenue is forecast to grow by 1.5% per annum. Earnings are also forecast to grow by 6.0% per annum over the same time period. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 10 June 2024. Payout ratio is a comfortable 37% but the company is paying out more than the cash it is generating. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (5.0%). Lower than average of industry peers (4.9%). Buy Or Sell Opportunity • Mar 13
Now 23% undervalued Over the last 90 days, the stock has risen 8.0% to €14.80. The fair value is estimated to be €19.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 8.7%. For the next 3 years, revenue is forecast to grow by 1.5% per annum. Earnings are also forecast to grow by 6.0% per annum over the same time period. Announcement • Mar 02
Mitsubishi Gas Chemical Company, Inc. to Report Fiscal Year 2024 Results on May 10, 2024 Mitsubishi Gas Chemical Company, Inc. announced that they will report fiscal year 2024 results on May 10, 2024 Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: JP¥43.40 (vs JP¥50.10 in 3Q 2023) Third quarter 2024 results: EPS: JP¥43.40 (down from JP¥50.10 in 3Q 2023). Revenue: JP¥222.1b (up 8.6% from 3Q 2023). Net income: JP¥8.83b (down 14% from 3Q 2023). Profit margin: 4.0% (down from 5.0% in 3Q 2023). Revenue is forecast to grow 1.8% 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 9% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Dec 20
Mitsubishi Gas Chemical Company, Inc. to Report Q3, 2024 Results on Feb 09, 2024 Mitsubishi Gas Chemical Company, Inc. announced that they will report Q3, 2024 results on Feb 09, 2024 Buying Opportunity • Dec 09
Now 21% undervalued Over the last 90 days, the stock is up 10%. The fair value is estimated to be €17.60, 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 15%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings is also forecast to grow by 4.4% per annum over the same time period. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €13.80, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Chemicals industry in Germany. Total returns to shareholders of 3.5% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €14.64 per share. Reported Earnings • Nov 10
Second quarter 2024 earnings released: EPS: JP¥55.67 (vs JP¥88.67 in 2Q 2023) Second quarter 2024 results: EPS: JP¥55.67 (down from JP¥88.67 in 2Q 2023). Revenue: JP¥212.6b (up 5.8% from 2Q 2023). Net income: JP¥11.4b (down 37% from 2Q 2023). Profit margin: 5.4% (down from 9.0% in 2Q 2023). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Announcement • Nov 09
Mitsubishi Gas Chemical Company, Inc. (TSE:4182) announces an Equity Buyback for 5,000,000 shares, representing 2.44% for ¥10,000 million. Mitsubishi Gas Chemical Company, Inc. (TSE:4182) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 shares, representing 2.44% of its issued share capital (excluding treasury stock), for ¥10,000 million. The purpose of the program is to enhance shareholder returns, improve capital efficiency and carry out flexible capital policy. The repurchased shares will be cancelled. The program will run until January 31, 2024. As of September 30, 2023, the company had 204,610,864 shares in issue (excluding treasury stock) and 17,628,335 shares in treasury. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥40.00 per share at 3.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 06 December 2023. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (5.9%). Announcement • Sep 10
Mitsubishi Gas Chemical Company, Inc. to Report Q2, 2024 Results on Nov 08, 2023 Mitsubishi Gas Chemical Company, Inc. announced that they will report Q2, 2024 results on Nov 08, 2023 New Risk • Aug 08
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% 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: Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Aug 08
First quarter 2024 earnings released: EPS: JP¥97.00 (vs JP¥77.72 in 1Q 2023) First quarter 2024 results: EPS: JP¥97.00 (up from JP¥77.72 in 1Q 2023). Revenue: JP¥187.0b (down 3.6% from 1Q 2023). Net income: JP¥19.8b (up 23% from 1Q 2023). Profit margin: 11% (up from 8.3% in 1Q 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Buying Opportunity • Aug 04
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.3%. The fair value is estimated to be €16.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has grown by 27%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings is also forecast to grow by 3.4% per annum over the same time period. Announcement • Jun 22
Mitsubishi Gas Chemical Company, Inc. to Report Q1, 2024 Results on Aug 07, 2023 Mitsubishi Gas Chemical Company, Inc. announced that they will report Q1, 2024 results on Aug 07, 2023 Reported Earnings • May 16
Full year 2023 earnings released: EPS: JP¥239 (vs JP¥232 in FY 2022) Full year 2023 results: EPS: JP¥239 (up from JP¥232 in FY 2022). Revenue: JP¥781.2b (up 11% from FY 2022). Net income: JP¥49.1b (up 1.6% from FY 2022). Profit margin: 6.3% (down from 6.8% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.7% 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 27% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥40.00 per share at 4.2% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 09 June 2023. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 4.2%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.7%). Reported Earnings • Feb 13
Third quarter 2023 earnings released: EPS: JP¥50.10 (vs JP¥53.65 in 3Q 2022) Third quarter 2023 results: EPS: JP¥50.10 (down from JP¥53.65 in 3Q 2022). Revenue: JP¥204.4b (up 7.9% from 3Q 2022). Net income: JP¥10.3b (down 8.2% from 3Q 2022). Profit margin: 5.0% (down from 5.9% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Chemicals industry in Germany. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Dec 02
Mitsubishi Gas Chemical Company, Inc. to Report Q3, 2023 Results on Feb 09, 2023 Mitsubishi Gas Chemical Company, Inc. announced that they will report Q3, 2023 results on Feb 09, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: JP¥88.67 (vs JP¥66.51 in 2Q 2022) Second quarter 2023 results: EPS: JP¥88.67 (up from JP¥66.51 in 2Q 2022). Revenue: JP¥200.9b (up 14% from 2Q 2022). Net income: JP¥18.2b (up 31% from 2Q 2022). Profit margin: 9.0% (up from 7.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% 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 34% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Outside Director Yasushi Manabe 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. Reported Earnings • Nov 10
Second quarter 2023 earnings released: EPS: JP¥88.67 (vs JP¥66.51 in 2Q 2022) Second quarter 2023 results: EPS: JP¥88.67 (up from JP¥66.51 in 2Q 2022). Revenue: JP¥200.9b (up 14% from 2Q 2022). Net income: JP¥18.2b (up 31% from 2Q 2022). Profit margin: 9.0% (up from 7.9% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% 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 34% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥40.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 06 December 2022. Payout ratio is a comfortable 29% but the company is not cash flow positive. Trailing yield: 3.9%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.1%). Announcement • Aug 31
Mitsubishi Gas Chemical Company, Inc. to Report Q2, 2023 Results on Nov 08, 2022 Mitsubishi Gas Chemical Company, Inc. announced that they will report Q2, 2023 results on Nov 08, 2022 Reported Earnings • Aug 07
First quarter 2023 earnings released: EPS: JP¥77.72 (vs JP¥69.00 in 1Q 2022) First quarter 2023 results: EPS: JP¥77.72 (up from JP¥69.00 in 1Q 2022). Revenue: JP¥194.0b (up 21% from 1Q 2022). Net income: JP¥16.1b (up 12% from 1Q 2022). Profit margin: 8.3% (down from 9.0% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 12%, 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 27% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • Jun 29
Mitsubishi Gas Chemical Company, Inc. to Report Q1, 2023 Results on Aug 05, 2022 Mitsubishi Gas Chemical Company, Inc. announced that they will report Q1, 2023 results on Aug 05, 2022 Reported Earnings • May 15
Full year 2022 earnings released: EPS: JP¥232 (vs JP¥173 in FY 2021) Full year 2022 results: EPS: JP¥232 (up from JP¥173 in FY 2021). Revenue: JP¥705.7b (up 19% from FY 2021). Net income: JP¥48.3b (up 34% from FY 2021). Profit margin: 6.8% (up from 6.1% in FY 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 6.4% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 14% per year whereas the company’s share price has increased by 10% per year. Announcement • May 14
Mitsubishi Gas Chemical Company, Inc., Annual General Meeting, Jun 28, 2022 Mitsubishi Gas Chemical Company, Inc., Annual General Meeting, Jun 28, 2022. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Outside Director Yasushi Manabe 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. Announcement • Apr 05
Mitsubishi Gas Chemical Company, Inc. to Report Fiscal Year 2022 Results on May 12, 2022 Mitsubishi Gas Chemical Company, Inc. announced that they will report fiscal year 2022 results on May 12, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 07 June 2022. Payout ratio is a comfortable 29% but the company is paying out more than the cash it is generating. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (3.6%). Lower than average of industry peers (4.7%). Reported Earnings • Feb 09
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat Third quarter 2022 results: EPS: JP¥53.65 (down from JP¥56.62 in 3Q 2021). Revenue: JP¥189.4b (up 17% from 3Q 2021). Net income: JP¥11.2b (down 5.2% from 3Q 2021). Profit margin: 5.9% (down from 7.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 2.9%. Over the next year, revenue is forecast to stay flat compared to a 6.0% 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 increased by 3% per year. Announcement • Feb 09
Mitsubishi Gas Chemical Company, Inc. (TSE:4182)
Mitsubishi Gas Chemical Company, Inc. (TSE:4182) entered into share transfer agreement to acquire an additional 25% stake in Mitsubishi Engineering-Plastics Corporation from Mitsubishi Chemical Corporation. Mitsubishi Gas Chemical Company, Inc. (TSE:4182) entered into share transfer agreement to acquire an additional 25% stake in Mitsubishi Engineering-Plastics Corporation from Mitsubishi Chemical Corporation on February 8, 2022. As of March 31, 2021, Mitsubishi Engineering-Plastics Corporation reported total sales of ¥86.24 billion, EBIT of ¥(2291) million and net income of ¥665 million. For the year ending March 31, 2021, Mitsubishi Engineering-Plastics Corporation had total assets of ¥56.36 billion and net worth of ¥14.93 billion. The transaction has been approved by the board of directors of Mitsubishi Gas Chemical Company. The transaction is expected to close on April 3, 2023. Reported Earnings • Nov 06
Second quarter 2022 earnings released: EPS JP¥66.51 (vs JP¥35.69 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: JP¥175.8b (up 32% from 2Q 2021). Net income: JP¥13.8b (up 86% from 2Q 2021). Profit margin: 7.9% (up from 5.6% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥45.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 December 2021. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (3.7%). Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improved over the past week After last week's 20% share price gain to €18.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Chemicals industry in Germany. Total returns to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €27.21 per share. Reported Earnings • Aug 09
First quarter 2022 earnings released: EPS JP¥69.00 (vs JP¥32.85 in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: JP¥160.0b (up 20% from 1Q 2021). Net income: JP¥14.4b (up 110% from 1Q 2021). Profit margin: 9.0% (up from 5.1% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Jun 01
Mitsubishi Gas Chemical Company, Inc. (TSE:4182) completed the acquired J-Chemical, Inc. from J-Oil Mills, Inc. (TSE:2613). Mitsubishi Gas Chemical Company, Inc. (TSE:4182) agreed to acquire J-Chemical, Inc. from J-Oil Mills, Inc. (TSE:2613) on March 29, 2021. In this transaction, Mitsubishi Gas Chemical Company, Inc. acquired 1800 shares of J-Chemical, Inc. As of March 2020, J-Chemical, Inc. reported a net sales of ¥6.6 billion and EBIT of ¥ 0.603 billion. J-Oil Mills, Inc.'s board approved the deal on on March 29, 2021. The transaction is expected to close around the end of May 2021.
Mitsubishi Gas Chemical Company, Inc. (TSE:4182) completed the acquired J-Chemical, Inc. from J-Oil Mills, Inc. (TSE:2613) on May 31, 2021. Reported Earnings • May 14
Full year 2021 earnings released: EPS JP¥173 (vs JP¥100 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: JP¥595.7b (down 2.9% from FY 2020). Net income: JP¥36.1b (up 71% from FY 2020). Profit margin: 6.1% (up from 3.4% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 24
Upcoming dividend of JP¥35.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 08 June 2021. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.6%). Announcement • Mar 05
Mitsubishi Gas Chemical Company, Inc. to Report Fiscal Year 2021 Results on May 11, 2021 Mitsubishi Gas Chemical Company, Inc. announced that they will report fiscal year 2021 results on May 11, 2021 Reported Earnings • Feb 06
Third quarter 2021 earnings released: EPS JP¥56.62 (vs JP¥31.55 in 3Q 2020) The company reported a solid third quarter result with improved earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: JP¥161.5b (flat on 3Q 2020). Net income: JP¥11.8b (up 78% from 3Q 2020). Profit margin: 7.3% (up from 4.1% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 06
Revenue beats expectations Revenue exceeded analyst estimates by 16%. Over the next year, revenue is forecast to grow 5.3%, compared to a 5.1% growth forecast for the Chemicals industry in Germany. Is New 90 Day High Low • Feb 03
New 90-day high: €19.90 The company is up 35% from its price of €14.70 on 05 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 25% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €29.22 per share. 
