Reported Earnings • Aug 09
First quarter 2027 earnings released: EPS: JP¥35.36 (vs JP¥10.73 in 1Q 2026) First quarter 2027 results: EPS: JP¥35.36 (up from JP¥10.73 in 1Q 2026). Revenue: JP¥3.15b (up 18% from 1Q 2026). Net income: JP¥289.0m (up 232% from 1Q 2026). Profit margin: 9.2% (up from 3.3% in 1Q 2026). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Board Change • Jul 22
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Satoshi Yamashita was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 24
New minor risk - Dividend sustainability The dividend is not well covered by earnings. The company is paying a dividend despite being loss-making. Dividend yield: 2.0% This is considered a minor risk. Companies that pay out too much of their earnings are at risk of having to reduce or cut their dividend in future. If earnings growth slows or earnings fall, then there may not be enough earnings to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. However, this risk is mitigated by the fact the dividend is covered by cash flows. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 66% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (8.1% average weekly change). Market cap is less than US$100m (JP¥6.50b market cap, or US$40.2m). Announcement • Jun 03
MANAC Chemical Partners Co.,Ltd to Report Q1, 2027 Results on Aug 07, 2026 MANAC Chemical Partners Co.,Ltd announced that they will report Q1, 2027 results on Aug 07, 2026 Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JP¥777, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 12x in the Chemicals industry in Japan. Total returns to shareholders of 30% over the past three years. Reported Earnings • May 19
Full year 2026 earnings released: EPS: JP¥95.86 (vs JP¥111 loss in FY 2025) Full year 2026 results: EPS: JP¥95.86 (up from JP¥111 loss in FY 2025). Revenue: JP¥11.0b (up 18% from FY 2025). Net income: JP¥781.0m (up JP¥1.68b from FY 2025). Profit margin: 7.1% (up from net loss in FY 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • May 15
MANAC Chemical Partners Co.,Ltd, Annual General Meeting, Jun 30, 2026 MANAC Chemical Partners Co.,Ltd, Annual General Meeting, Jun 30, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 16 June 2026. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.3%). New Risk • Feb 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.6% average weekly change). Earnings have declined by 100% per year over the past 5 years. Minor Risk Market cap is less than US$100m (JP¥9.07b market cap, or US$58.1m). Buy Or Sell Opportunity • Feb 26
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 74% to JP¥1,110. The fair value is estimated to be JP¥909, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 6.7% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: JP¥16.88 (vs JP¥7.40 in 3Q 2025) Third quarter 2026 results: EPS: JP¥16.88 (up from JP¥7.40 in 3Q 2025). Revenue: JP¥2.50b (down 2.9% from 3Q 2025). Net income: JP¥138.0m (up 130% from 3Q 2025). Profit margin: 5.5% (up from 2.3% in 3Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 133 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Jan 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to JP¥747. The fair value is estimated to be JP¥616, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 8.7% over the last 3 years. Meanwhile, the company became loss making. New Risk • Jan 07
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 Japanese stocks, typically moving 5.4% 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 Earnings have declined by 108% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Market cap is less than US$100m (JP¥5.86b market cap, or US$37.4m). Announcement • Nov 29
MANAC Chemical Partners Co.,Ltd to Report Q3, 2026 Results on Feb 13, 2026 MANAC Chemical Partners Co.,Ltd announced that they will report Q3, 2026 results on Feb 13, 2026 Reported Earnings • Nov 19
Second quarter 2026 earnings released: EPS: JP¥46.46 (vs JP¥11.88 loss in 2Q 2025) Second quarter 2026 results: EPS: JP¥46.46 (up from JP¥11.88 loss in 2Q 2025). Revenue: JP¥3.15b (up 47% from 2Q 2025). Net income: JP¥378.0m (up JP¥474.0m from 2Q 2025). Profit margin: 12% (up from net loss in 2Q 2025). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 135 percentage points per year, which is a significant difference in performance. Announcement • Oct 31
MANAC Chemical Partners Co.,Ltd (TSE:4360) agreed to acquire 99.90% stake in Kinkai Chemicals Co.,Ltd. from Teijin Limited (TSE:3401). MANAC Chemical Partners Co.,Ltd (TSE:4360) agreed to acquire 99.90% stake in Kinkai Chemicals Co.,Ltd. from Teijin Limited (TSE:3401) on October 30, 2025. As part of acquisition, 164,840 shares will be acquired.
For the period ending March 31, 2025, Kinkai Chemicals Co.,Ltd. reported net sales of ¥691 million and operating income of ¥55 million. As of March 31, 2025, Kinkai Chemicals Co.,Ltd. reported total assets of ¥1.15 billion and net assets of ¥863 million.
The expected completion of the transaction is March 31, 2026. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 25 November 2025. The company is not currently making a profit and is not cash flow positive. Trailing yield: 1.7%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.6%). Announcement • Sep 02
MANAC Chemical Partners Co.,Ltd to Report Q2, 2026 Results on Nov 14, 2025 MANAC Chemical Partners Co.,Ltd announced that they will report Q2, 2026 results on Nov 14, 2025 Board Change • Aug 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Director Yasuaki Hanasaki 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. Reported Earnings • Aug 10
First quarter 2026 earnings released: EPS: JP¥10.73 (vs JP¥5.10 loss in 1Q 2025) First quarter 2026 results: EPS: JP¥10.73 (up from JP¥5.10 loss in 1Q 2025). Revenue: JP¥2.66b (up 13% from 1Q 2025). Net income: JP¥87.0m (up JP¥128.0m from 1Q 2025). Profit margin: 3.3% (up from net loss in 1Q 2025). Announcement • Jun 12
MANAC Chemical Partners Co.,Ltd to Report Q1, 2026 Results on Aug 08, 2025 MANAC Chemical Partners Co.,Ltd announced that they will report Q1, 2026 results on Aug 08, 2025 Reported Earnings • May 19
Full year 2025 earnings released: JP¥111 loss per share (vs JP¥10.23 profit in FY 2024) Full year 2025 results: JP¥111 loss per share (down from JP¥10.23 profit in FY 2024). Revenue: JP¥9.30b (down 3.9% from FY 2024). Net loss: JP¥895.0m (down JP¥977.0m from profit in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Announcement • May 15
MANAC Chemical Partners Co.,Ltd, Annual General Meeting, Jun 30, 2025 MANAC Chemical Partners Co.,Ltd, Annual General Meeting, Jun 30, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 16 June 2025. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.6%). Announcement • Mar 04
MANAC Chemical Partners Co.,Ltd to Report Fiscal Year 2025 Results on May 14, 2025 MANAC Chemical Partners Co.,Ltd announced that they will report fiscal year 2025 results on May 14, 2025 Reported Earnings • Feb 15
Third quarter 2025 earnings released: EPS: JP¥7.40 (vs JP¥7.96 loss in 3Q 2024) Third quarter 2025 results: EPS: JP¥7.40 (up from JP¥7.96 loss in 3Q 2024). Revenue: JP¥2.57b (up 23% from 3Q 2024). Net income: JP¥60.0m (up JP¥124.0m from 3Q 2024). Profit margin: 2.3% (up from net loss in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 112 percentage points per year, which is a significant difference in performance. Board Change • Dec 05
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Hideaki Imoto 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. Announcement • Dec 03
MANAC Chemical Partners Co.,Ltd to Report Q3, 2025 Results on Feb 13, 2025 MANAC Chemical Partners Co.,Ltd announced that they will report Q3, 2025 results on Feb 13, 2025 Reported Earnings • Nov 20
Second quarter 2025 earnings released: JP¥11.88 loss per share (vs JP¥6.86 loss in 2Q 2024) Second quarter 2025 results: JP¥11.88 loss per share (further deteriorated from JP¥6.86 loss in 2Q 2024). Revenue: JP¥2.13b (down 4.4% from 2Q 2024). Net loss: JP¥96.0m (loss widened 75% from 2Q 2024). Upcoming Dividend • Sep 20
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 25 November 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.4%). Announcement • Aug 29
MANAC Chemical Partners Co.,Ltd to Report Q2, 2025 Results on Nov 13, 2024 MANAC Chemical Partners Co.,Ltd announced that they will report Q2, 2025 results on Nov 13, 2024 Reported Earnings • Aug 11
First quarter 2025 earnings released: JP¥5.10 loss per share (vs JP¥14.55 profit in 1Q 2024) First quarter 2025 results: JP¥5.10 loss per share (down from JP¥14.55 profit in 1Q 2024). Revenue: JP¥2.36b (down 9.5% from 1Q 2024). Net loss: JP¥41.0m (down 135% from profit in 1Q 2024). Valuation Update With 7 Day Price Move • Aug 05
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to JP¥481, the stock trades at a trailing P/E ratio of 47.2x. Average trailing P/E is 12x in the Chemicals industry in Japan. Total loss to shareholders of 36% over the past three years. Announcement • Jun 28
MANAC Chemical Partners Co.,Ltd to Report Q1, 2025 Results on Aug 09, 2024 MANAC Chemical Partners Co.,Ltd announced that they will report Q1, 2025 results on Aug 09, 2024 New Risk • Jun 25
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.5% average weekly change). Dividend is not well covered by earnings and cash flows. Payout ratio: 158% Paying a dividend despite having no free cash flows. Revenue has declined by 18% over the past year. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.8% net profit margin). Market cap is less than US$100m (JP¥5.76b market cap, or US$36.1m). Valuation Update With 7 Day Price Move • Jun 24
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥716, the stock trades at a trailing P/E ratio of 75.7x. Average trailing P/E is 13x in the Chemicals industry in Japan. Total loss to shareholders of 21% over the past three years. Reported Earnings • May 13
Full year 2024 earnings released: EPS: JP¥9.48 (vs JP¥103 in FY 2023) Full year 2024 results: EPS: JP¥9.48 (down from JP¥103 in FY 2023). Revenue: JP¥9.69b (down 18% from FY 2023). Net income: JP¥76.0m (down 91% from FY 2023). Profit margin: 0.8% (down from 6.9% in FY 2023). Announcement • May 12
MANAC Chemical Partners Co.,Ltd, Annual General Meeting, Jun 28, 2024 MANAC Chemical Partners Co.,Ltd, Annual General Meeting, Jun 28, 2024. New Risk • Mar 27
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 Japanese stocks, typically moving 6.3% 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 Revenue has declined by 15% over the past year. Minor Risks Less than 3 years of financial data is available. Dividend is not well covered by earnings (dividend per share is over 13x earnings per share). Share price has been volatile over the past 3 months (6.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.09% net profit margin). Market cap is less than US$100m (JP¥4.86b market cap, or US$32.2m). Upcoming Dividend • Mar 21
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 17 June 2024. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (2.1%). Announcement • Mar 06
MANAC Chemical Partners Co.,Ltd to Report Fiscal Year 2024 Results on May 10, 2024 MANAC Chemical Partners Co.,Ltd announced that they will report fiscal year 2024 results on May 10, 2024 Announcement • Mar 01
Watanabe Chemical Industries, Ltd. agreed to acquire 90% stake in Hakko Tsusho Co., Ltd. from MANAC Chemical Partners Co.,Ltd (TSE:4360). Watanabe Chemical Industries, Ltd. agreed to acquire 90% stake in Hakko Tsusho Co., Ltd. from MANAC Chemical Partners Co.,Ltd (TSE:4360) on February 29, 2024. Reported Earnings • Feb 17
Third quarter 2024 earnings released: JP¥7.96 loss per share (vs JP¥53.43 profit in 3Q 2023) Third quarter 2024 results: JP¥7.96 loss per share (down from JP¥53.43 profit in 3Q 2023). Revenue: JP¥2.10b (down 41% from 3Q 2023). Net loss: JP¥64.0m (down 115% from profit in 3Q 2023). Announcement • Nov 30
MANAC Chemical Partners Co.,Ltd to Report Q3, 2024 Results on Feb 14, 2024 MANAC Chemical Partners Co.,Ltd announced that they will report Q3, 2024 results on Feb 14, 2024 Reported Earnings • Nov 12
Second quarter 2024 earnings released: JP¥6.86 loss per share (vs JP¥53.43 profit in 2Q 2023) Second quarter 2024 results: JP¥6.86 loss per share (down from JP¥53.43 profit in 2Q 2023). Revenue: JP¥2.23b (down 37% from 2Q 2023). Net loss: JP¥55.0m (down 113% from profit in 2Q 2023). Upcoming Dividend • Sep 21
Upcoming dividend of JP¥7.50 per share at 2.4% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 27 November 2023. Payout ratio is a comfortable 15% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.3%). In line with average of industry peers (2.5%). Announcement • Aug 27
MANAC Chemical Partners Co.,Ltd to Report Q2, 2024 Results on Nov 10, 2023 MANAC Chemical Partners Co.,Ltd announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 11
First quarter 2024 earnings released: EPS: JP¥14.55 (vs JP¥35.39 in 1Q 2023) First quarter 2024 results: EPS: JP¥14.55 (down from JP¥35.39 in 1Q 2023). Revenue: JP¥2.61b (down 21% from 1Q 2023). Net income: JP¥116.0m (down 59% from 1Q 2023). Profit margin: 4.4% (down from 8.5% in 1Q 2023). The decrease in margin was driven by lower revenue. Announcement • Jun 01
MANAC Chemical Partners Co.,Ltd to Report Q1, 2024 Results on Aug 09, 2023 MANAC Chemical Partners Co.,Ltd announced that they will report Q1, 2024 results on Aug 09, 2023 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.50 per share at 1.8% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 09 June 2023. Trailing yield: 1.8%. Lower than top quartile of Japanese dividend payers (3.6%). Lower than average of industry peers (2.8%). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JP¥820, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 11x in the Chemicals industry in Japan. Total loss to shareholders of 2.8% over the past three years. Announcement • Nov 30
MANAC Chemical Partners Co.,Ltd to Report Q3, 2023 Results on Feb 10, 2023 MANAC Chemical Partners Co.,Ltd announced that they will report Q3, 2023 results on Feb 10, 2023 Board Change • Nov 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 2 highly experienced directors. 4 independent directors (5 non-independent directors). Independent Pat Time Outside Director Misako Aida 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. Insufficient board refreshment. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 28 November 2022. Trailing yield: 2.4%. Lower than top quartile of Japanese dividend payers (3.7%). Lower than average of industry peers (2.9%). Announcement • Aug 31
MANAC Chemical Partners Co.,Ltd to Report Q2, 2023 Results on Nov 09, 2022 MANAC Chemical Partners Co.,Ltd announced that they will report Q2, 2023 results on Nov 09, 2022 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. 7 experienced directors. 2 highly experienced directors. Independent Pat Time Outside Director Misako Aida was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Jun 02
MANAC Chemical Partners Co.,Ltd to Report Q1, 2023 Results on Aug 08, 2022 MANAC Chemical Partners Co.,Ltd announced that they will report Q1, 2023 results on Aug 08, 2022 Announcement • May 18
MANAC Chemical Partners Co.,Ltd, Annual General Meeting, Jun 23, 2022 MANAC Chemical Partners Co.,Ltd, Annual General Meeting, Jun 23, 2022. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment deteriorated over the past week After last week's 31% share price decline to JP¥652, the stock trades at a trailing P/E ratio of 9.3x. Average trailing P/E is 10x in the Chemicals industry in Japan. Total returns to shareholders of 37% over the past three years. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 7 non-independent directors. Independent Pat Time Outside Director Misako Aida was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improved over the past week After last week's 20% share price gain to JP¥619, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 9x in the Chemicals industry in Japan. Total returns to shareholders of 29% over the past three years. Announcement • Apr 08
MANAC Chemical Partners Co.,Ltd to Report Fiscal Year 2022 Results on May 13, 2022 MANAC Chemical Partners Co.,Ltd announced that they will report fiscal year 2022 results on May 13, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥7.50 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 10 June 2022. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.4%). In line with average of industry peers (2.6%). Board Change • Oct 04
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 3 highly experienced directors. No independent directors (8 non-independent directors). External Director Yasuto Utsumi was the last director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. 
