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Japanese basic and specialty chemicals maker producing caustic soda, agrochemicals and pharmaceutical intermediates.
Japanese basic and specialty chemicals maker producing caustic soda, agrochemicals and pharmaceutical intermediates.
In one line: A smaller Japanese basic-chemicals/agrochem producer.
Moat: narrow (process know-how). Established chlor-alkali and agrochemical manufacturing know-how in a competitive commodity-chemicals field.
Headquarters: Tokyo, Japan · Founded: 1920 · Employees: 2,407
Size Nippon Soda (4041.T) is a Japan Materials company (Chemicals: Major Diversified) with a market value of $1.19B, the 667th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥3,440 on 6 Nov 2026.
Performance Over six months the shares fell 5.4%, against -30.0% for the median peer and +1.8% for the Japan market (cap-weighted) — 5th highest of 20 in its peer set.
Growth Revenue fell 1.2% over the last twelve months (peer median +4.7%); the operating margin is 10.1% (peer median 15.1%).
Valuation It trades at 11.1× forward earnings against a peer median of 20.9× (2nd cheapest of 16).
Price implies For today's price to make sense, revenue must grow about 3% a year for seven years (Req g). Recent delivered growth is +2%, so the hurdle is +2 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 1.7 points below its cost of capital (6.1% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥154B | ¥152B | ¥155B | ¥154B | ¥173B |
| Revenue growth | — | -2% | 0% | -11% | — |
| Gross profit | ¥45.9B | ¥43.8B | ¥43.7B | ¥41.5B | ¥47.7B |
| EBITDA | ¥23.8B | ¥23.1B | ¥23.9B | ¥21.7B | ¥26.0B |
| Net income | ¥18.3B | ¥18.3B | ¥15.0B | ¥16.6B | ¥16.7B |
| Free cash flow | n/a | ¥8.43B | ¥3.58B | -¥5.20B | ¥3.21B |
| Capital expenditure | n/a | ¥14.6B | ¥19.2B | ¥11.4B | ¥12.6B |
| Total debt | ¥55.9B | ¥52.3B | ¥50.3B | ¥49.0B | ¥32.4B |
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 |
|---|---|---|---|---|---|---|
| Nippon Soda 4041.T | $1.19B | -5% | -1% | 10% | 11.1× | 3.5% |
| Sumitomo Chemical 4005.T | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% |
| Nissan Chemical 4021.T | $5.72B | 0% | +10% | 23% | 15.9× | 9.3% |
| Kumiai Chemical Industry 4996.T | $499M | -17% | +7% | 4% | 10.1× | -8.5% |
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 | 4041.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.5% | -10.0% | 10th highest of 21 |
| 6-month return | -5.4% | -30.0% | 5th highest of 20 |
| Distance from 52-week high | -18.1% | -44.7% | 3rd highest of 21 |
| Revenue growth (TTM) | -1.2% | +4.7% | 7th lowest of 21 |
| Operating margin | 10.1% | 15.1% | 8th lowest of 21 |
| Forward P/E | 11.1× | 20.9× | 2nd cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | 3.5% | 12.6% | 4th least demanding of 15 |
| Growth delivered (Del g) | +1.8% | +7.8% | 4th lowest of 15 |
| Hurdle (Req g minus delivered) | +1.7 pp | -2.1 pp | 7th most demanding of 15 |
| ROIC minus cost of capital | -1.7 pp | -0.2 pp | 9th lowest of 21 |
| EV / EBITDA | 9.3× | 12.0× | 4th cheapest of 10 |
| Net debt / EBITDA | 1.4× | 0.7× | 3rd most indebted of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Nippon Soda 4041.T | Japan | $1.19B | -5% | -1% | 10% | 11.1× | 3.5% | +1.8% |
| Hubei Jianghan New Materials 603281.SS | China | $1.20B | -30% | +8% | 17% | 20.5× | 4.8% | +6.3% |
| CNSIG Inner Mongolia Chemical Industry 600328.SS | China | $1.21B | -32% | -20% | -7% | n/a | n/a | n/a |
| Xinxiang Richful Lube Additive 300910.SZ | China | $1.26B | -38% | +12% | 16% | 11.6× | 0.6% | +32.5% |
| Jinan Acetate Chemical 4763.TW | Taiwan | $1.26B | -3% | -36% | 46% | 7.3× | -17.4% | +41.2% |
| Lanxess LXS.DE | Germany | $1.27B | -30% | -10% | -1% | n/a | 17.9% | -1.5% |
| Hanchem 014680.KS | South Korea | $1.30B | -40% | +15% | 17% | 11.1× | 4.7% | +7.4% |
| Dalian Bio-Chem 603360.SS | China | $1.05B | -55% | 0% | 16% | 23.5× | 9.5% | +18.4% |
| Victrex VCT.L | United Kingdom | $1.04B | +54% | -1% | 14% | 21.7× | 15.7% | +1.9% |
| China Resources Chemical Innovative Materials 301090.SZ | China | $1.35B | -33% | +4% | 1% | 19.2× | 21.4% | +1.1% |
| Isuspecialtychemical 457190.KS | South Korea | $1.36B | -49% | +14% | 3% | n/a | n/a | n/a |
| Shanghai Emperor of Cleaning Hi-Tech 603200.SS | China | $1.37B | -16% | +4% | -8% | n/a | n/a | n/a |
| Jiangsu Shuangxing Color Plastic New Materials 002585.SZ | China | $1.38B | +5% | -4% | -4% | 62.8× | 22.5% | +0.2% |
| Caregen 214370.KS | South Korea | $1.01B | -73% | -8% | 24% | 22.6× | 35.2% | +3.8% |
| Rianlon 300596.SZ | China | $1.39B | -7% | +11% | 11% | 14.7× | n/a | n/a |
| Privi Speciality Chemicals PRIVISCL.NS | India | $1.40B | -4% | +18% | 20% | 30.4× | 30.1% | +15.0% |
| Jilin Chemical Fibre Stock 000420.SZ | China | $1.42B | -25% | +11% | 5% | 154.0× | n/a | n/a |
| Jiangsu Zhengdan Chemical Industry 300641.SZ | China | $981M | -28% | -30% | 17% | n/a | 8.8% | +11.6% |
| Jubilant Ingrevia JUBLINGREA.NS | India | $966M | -24% | +15% | 10% | 21.1× | 27.3% | +44.9% |
| Zhejiang Huangma Technology 603181.SS | China | $935M | -30% | +7% | 17% | 14.5× | n/a | n/a |
| Alzchem ACT0.DE | Germany | $1.56B | n/a | +5% | 16% | 20.9× | -1.1% | +8.2% |