Mitsui Chemicals has announced its third-quarter results for the nine months ending December 31, 2025, revealing a sharp decline in net income as global economic recovery slowed.

 

“Sales revenue was 1,218.7 billion yen, a decrease of 120.1 billion yen, or 9.0%, year on year,” the company said. The decline was primarily driven by lower selling prices due to falling raw material costs, including naphtha, and weaker sales in the Basic & Green Materials segment.

 

Operating income before special items fell 10.3% to 68.0 billion yen, “mainly due to the worsened inventory revaluation gain and loss resulting from the fall in raw material prices, such as naphtha,” Mitsui Chemicals said. Operating income dropped 18.3% to 54.6 billion yen, reflecting both this decline and “the recognition of an impairment loss on an investment accounted for using equity method to operate phenol businesses in China.”

 

Net income attributable to owners of the parent plummeted 40.1% to 22.6 billion yen, with basic earnings per share standing at 60.07 yen. The company also executed a two-for-one stock split on January 1, 2026.

 

Life & Healthcare Solutions: Sales rose slightly to 174.1 billion yen, but operating income before special items fell to 17.0 billion yen. “This result was mainly due to the impact of a halt in production facilities at the Omuta Works, despite healthy sales in vision care materials and agrochemicals,” Mitsui Chemicals reported.

 

Mobility Solutions: Revenue dropped 33.7 billion yen to 382.8 billion yen, with operating income before special items declining to 37.5 billion yen. The company cited “the decrease in sales of polypropylene compounds caused by the impact of U.S. tariffs, a shortage of semiconductor supplies, and reduced production by various companies engaged in OEM following a fire at an aluminum plant in North America.”

 

ICT Solutions: Sales fell slightly to 208.4 billion yen, yet operating income before special items surged 7.4 billion yen to 28.5 billion yen due to “healthy sales in semiconductor & optical materials and ICT films & sheets.”

 

Basic & Green Materials: Sales tumbled 86.3 billion yen to 442.5 billion yen, with operating loss before special items widening to 12.8 billion yen. The company attributed the decline to “the worsened inventory revaluation gain and loss resulting from the falling raw material prices, such as naphtha, and deteriorating market conditions, despite the improvements in fixed costs, etc. from business restructuring.”

 

Total assets reached 2,209.1 billion yen, up 55.1 billion yen from the previous fiscal year-end. Total equity increased to 1,005.2 billion yen, with a net debt-equity ratio of 0.70. Net cash rose 21.6 billion yen to 192.2 billion yen.

 

Mitsui Chemicals revised its full-year forecast downward, citing lower automobile production and falling raw material prices. Net income attributable to owners of the parent is now projected at 42.0 billion yen, down from the previously forecast 55.0 billion yen.

 

“Sales revenue is expected to be lower than the previously announced forecast, as sales fell mainly due to reduced automobile production. Each income item is also expected to be lower, considering the third quarter results, due to the worsened inventory revaluation gain and loss resulting from the fall in raw material prices, such as naphtha, as well as deteriorating market conditions,” the company said.