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Makes specialty and agricultural chemicals, plus materials used in semiconductor manufacturing.
Makes specialty and agricultural chemicals, plus materials used in semiconductor manufacturing.
Agrochemicals are sold on patent-protected active ingredients to distributors and crop-protection companies. Electronic materials for chip lithography, such as anti-reflective coatings applied to wafers, are qualified with chipmakers and then reordered. Fine chemicals fill in the rest.
In one line: A smaller FMC Corporation (agchem + specialty materials).
Moat: narrow (IP / patents, process know-how). Patent-protected agrochemical compounds and qualified semiconductor material formulations.
Headquarters: Tokyo, Japan · Founded: 1887 · Employees: 3,411
Size Nissan Chemical (4021.T) is a Japan Materials company (Chemicals: Specialty) with a market value of $5.72B, the 216th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥6,763 on 6 Nov 2026.
Performance Over six months the shares fell 0.2%, against -10.1% for the median peer and +1.8% for the Japan market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue grew 9.9% over the last twelve months (peer median +12.2%); the operating margin is 23.4% (peer median 14.2%).
Valuation It trades at 15.9× forward earnings against a peer median of 22.4× (8th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 9% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is +3 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 7.7 points above its cost of capital (9.8% WACC).
Next results Next results expected around 9 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥289B | ¥280B | ¥251B | ¥227B | ¥228B |
| Revenue growth | — | +11% | +11% | -1% | — |
| Gross profit | ¥137B | ¥125B | ¥113B | ¥100B | ¥103B |
| EBITDA | ¥83.2B | ¥79.1B | ¥71.2B | ¥62.0B | ¥63.3B |
| Net income | ¥52.7B | ¥49.7B | ¥43.0B | ¥38.0B | ¥41.1B |
| Free cash flow | ¥50.5B | ¥45.3B | ¥43.0B | ¥14.3B | ¥16.3B |
| Capital expenditure | ¥20.8B | ¥21.1B | ¥19.1B | ¥21.2B | ¥20.5B |
| Total debt | ¥44.3B | ¥38.4B | ¥40.5B | ¥41.0B | ¥27.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Nissan Chemical 4021.T | $5.72B | 0% | +10% | 23% | 15.9× | 9.3% |
| Sumitomo Chemical 4005.T | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% |
| FMC FMC | $876M | -58% | -22% | -21% | 6.2× | -2.8% |
| Shin-etsu Chemical 4063.T | $66.5B | -27% | +5% | 25% | 17.2× | 8.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 4021.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -23.8% | +0.3% | 2nd lowest of 21 |
| 6-month return | -0.2% | -10.1% | 7th highest of 21 |
| Distance from 52-week high | -26.1% | -30.2% | 8th highest of 21 |
| Revenue growth (TTM) | +9.9% | +12.2% | 10th lowest of 21 |
| Operating margin | 23.4% | 14.2% | 4th highest of 21 |
| Forward P/E | 15.9× | 22.4× | 8th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 9.3% | 11.0% | 8th least demanding of 16 |
| Growth delivered (Del g) | +6.0% | +11.5% | 4th lowest of 16 |
| Hurdle (Req g minus delivered) | +3.3 pp | -2.1 pp | 6th most demanding of 16 |
| ROIC minus cost of capital | +7.7 pp | -0.1 pp | 3rd highest of 21 |
| EV / EBITDA | 11.0× | 14.3× | 6th cheapest of 13 |
| Net debt / EBITDA | 0.1× | 1.3× | 4th least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nissan Chemical 4021.T | Japan | $5.72B | 0% | +10% | 23% | 15.9× | 9.3% | +6.0% |
| Zhejiang Longsheng 600352.SS | China | $5.70B | -11% | -1% | 19% | 13.7× | -5.2% | -3.1% |
| Coromandel International COROMANDEL.NS | India | $5.69B | -7% | +24% | 8% | 27.3× | n/a | n/a |
| Kingboard 0148.HK | Hong Kong | $5.78B | -17% | +19% | 15% | 5.0× | n/a | n/a |
| Canmax Technologies 300390.SZ | China | $5.62B | -64% | +98% | 27% | 7.3× | n/a | n/a |
| LB Group Co., Ltd. Class A 002601.SZ | China | $5.58B | -8% | +7% | 7% | 22.4× | 5.0% | +12.9% |
| Inner Mongolia Junzheng Energy & Chemical 601216.SS | China | $5.92B | -16% | +3% | 11% | 12.0× | -3.4% | +11.3% |
| Gujarat Fluorochemicals FLUOROCHEM.NS | India | $5.42B | +23% | +20% | 17% | 53.0× | n/a | n/a |
| Hoshine Silicon Industry 603260.SS | China | $5.32B | -33% | -7% | -6% | 41.7× | 22.5% | +18.5% |
| Shenzhen Capchem Technology 300037.SZ | China | $6.16B | -21% | +72% | 13% | 19.0× | 19.3% | +26.6% |
| Linde India LINDEINDIA.NS | India | $6.20B | -13% | +13% | 22% | 97.2× | 47.9% | +11.5% |
| Haohua Chemical Science & Technology 600378.SS | China | $6.29B | -9% | +20% | 9% | 22.1× | 11.0% | +25.2% |
| Methanex MX.TO | Canada | $5.18B | +12% | +31% | 23% | 6.9× | -9.4% | +7.1% |
| NewMarket NEU | United States | $6.39B | +1% | +1% | 20% | n/a | -0.8% | +6.3% |
| SOL SOL.MI | Italy | $6.39B | +6% | +9% | 14% | 30.5× | 16.9% | +12.8% |
| Celanese CE | United States | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% | +11.0% |
| Sumitomo Chemical 4005.T | Japan | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% | +0.4% |
| Navin Fluorine International NAVINFLUOR.NS | India | $4.89B | +27% | +46% | 30% | 45.6× | 34.0% | +22.7% |
| Croda International CRDA.L | United Kingdom | $6.88B | +31% | +3% | 16% | 23.3× | 19.9% | +4.1% |
| Dottikon ES DESN.SW | Switzerland | $4.72B | -24% | +11% | 27% | 37.6× | 12.6% | +14.4% |
| Red Avenue New Materials 603650.SS | China | $4.70B | -12% | +24% | 9% | 40.7× | n/a | n/a |