Mitsui Chemicals Provides Consolidated Earnings Guidance for the First Half and Full Year 2023
August 04, 2023 at 12:00 am EDT
Mitsui Chemicals provided consolidated earnings guidance for the first half and full year 2023. In the first half, the company forecasts JPY 870 billion in sales revenue, JPY 46.0 billion in operating income before special items and JPY 23.0 billion in net income attributable to owners of the parent. That means the company expects a decline in both sales and profit.
As for the full year outlook, sales revenue is to be JPY 1.85 trillion, down by JPY 29.5 billion year-on-year. Operating income before special items is forecasted to be JPY 125.0 billion, up by JPY 11.1 billion year-on-year, but this is a downward revision by JPY 25 billion from their previous forecast. Net income attributable to owners of the parent is to be JPY 84.0 billion, up by JPY 1.1 billion year-on-year.
Mitsui Chemicals, Inc. specializes in the manufacture and marketing of chemicals products. Net sales break down by product family as follows:
- basic chemicals and fine chemicals products (48.8%): polypropylene, polyethylene, phenols, polyolefins, polyurethane, etc.;
- performance chemicals products (25.5%): elastomers, urethane, polymers, etc. intended in particular for the automotive industry;
- coating materials, films and agrochemicals (14.6%): resins, adhesives, polypropylene films, polyethylene films, industrial films, agrochemicals (insecticides, fungicides, herbicides, etc.) for the food and packaging sectors;
- specialty materials (10.2%): ophthalmic lens materials, photochromic materials, non-woven fibers, dental products, etc. dedicated to the medical and healthcare industry;
- other (0.9%).
Net sales are distributed geographically as follows: Japan (52.2%), China (14.5%), Asia (13.6%), America (11.8%), Europe (7.3%) and other (0.6%).