Mitsubishi Gas Chemical Company, Inc. discloses its third-quarter results for the fiscal year ending March 2026, revealing a consolidated net loss of ¥26.1 billion attributable to owners of the parent. Net sales decline 5.8% year-over-year to ¥549.4 billion, while operating profit falls 16.5% to ¥37.8 billion.4443
Consolidated Financial Highlights
The company experiences lower net sales primarily from reduced polycarbonate and methanol prices, alongside the withdrawal from the ortho-xylene chain business. Operating profit decreases due to price drops, elevated fixed costs for inorganic chemical expansions, and heightened competition in meta-xylylenediamine (MXDA) products. Ordinary profit stands at ¥48.1 billion, down 10.6% year-over-year.44
A significant net loss emerges from impairment charges totaling ¥59.4 billion at overseas subsidiaries, including the MXDA plant in the Netherlands and a hydrogen peroxide facility in China. Extraordinary losses reach ¥60.9 billion, partially offset by ¥5.5 billion in gains from asset sales.44
Performance by Segment
Green Energy & Chemicals (GEC)
Net sales drop to ¥216.6 billion, with operating profit at ¥7.3 billion. Methanol sees reduced earnings from lower market prices ($304/MT versus $332/MT last year). Aromatic chemicals face profit declines amid competition and fixed cost increases, though withdrawal from certain xylene operations aids earnings. Impairment at the Netherlands MXDA plant impacts results.44
Specialty Chemicals
Net sales reach ¥332.0 billion, with operating profit of ¥33.3 billion. Information and advanced materials grow, driven by strong demand for bisphenol A type epoxy resin (BT materials) and OPETM substrates for AI servers. Engineering plastics and optical materials suffer from lower polycarbonate prices and smartphone volumes. Inorganic chemicals incur higher costs from capacity expansions.44
Full-Year Forecast Revisions
Mitsubishi Gas Chemical raises its full-year operating profit outlook to ¥47.0 billion (up 6.8% from prior forecast) and ordinary profit to ¥55.0 billion (up 10.0%), citing higher BT materials volumes and yen depreciation. Net loss attributable to owners remains at ¥18.0 billion. Assumptions include USD at 155 JPY and crude oil at $65 per barrel for remaining quarters.44
Outlook and Market Factors
Fourth-quarter prospects include rising methanol prices to $325/MT, sustained electronic materials demand, and methanol plant maintenance impacts. PC spreads stay weak, while AI-related products provide support. Dividend forecast holds steady at ¥50 interim and ¥50 year-end.44
