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Diversified Japanese chemicals maker producing petrochemicals, plastics and specialty materials.
Diversified Japanese chemicals maker producing petrochemicals, plastics and specialty materials.
Sells commodity chemicals priced off the market alongside higher-value materials such as automotive plastics and lens materials for eyeglasses, which it has been pushing to grow as a larger share of earnings. Domestic petrochemical plants, the base of its commodity chain, have been under restructuring.
In one line: Japan's Dow Chemical.
Moat: none (scale). Large-scale commodity petrochemical producer with limited pricing power.
Headquarters: Tokyo, Japan · Founded: 1997 · Employees: 16,967
Size Mitsui Chemicals (4183.T) is a Japan Materials company (Chemicals: Major Diversified) with a market value of $4.08B, the 282nd largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥1,733 on 6 Nov 2026.
Performance Over six months the shares fell 8.6%, against -9.2% for the median peer and +1.8% for the Japan market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue fell 3.5% over the last twelve months (peer median +6.5%); the operating margin is 6.2% (peer median 7.4%).
Valuation It trades at 10.7× forward earnings against a peer median of 16.7× (2nd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.7 points below its cost of capital (6.0% WACC).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ¥1.71T | ¥1.67T | ¥1.81T | ¥1.75T | ¥1.88T |
| Revenue growth | — | -8% | +3% | -7% | — |
| Gross profit | ¥403B | ¥363B | ¥371B | ¥371B | ¥381B |
| EBITDA | ¥214B | ¥187B | ¥193B | ¥181B | ¥181B |
| Net income | ¥65.7B | ¥34.4B | ¥32.2B | ¥50.0B | ¥82.9B |
| Free cash flow | ¥54.2B | ¥84.7B | ¥79.3B | ¥17.3B | -¥31.1B |
| Capital expenditure | ¥135B | ¥138B | ¥138B | ¥154B | ¥138B |
| Total debt | ¥822B | ¥796B | ¥792B | ¥811B | ¥795B |
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 |
|---|---|---|---|---|---|---|
| Mitsui Chemicals 4183.T | $4.08B | -9% | -3% | 6% | 10.7× | 1.9% |
| Sumitomo Chemical 4005.T | $4.93B | -7% | -2% | 5% | 6.9× | 1.1% |
| Mitsubishi Chemical 4188.T | $8.65B | +10% | -8% | 8% | 8.9× | -0.5% |
| Dow DOW | $22.7B | -14% | +4% | 5% | 14.8× | 4.3% |
| Basf BAS.DE | $52.6B | +2% | -4% | 7% | 16.8× | 5.7% |
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 | 4183.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.2% | -10.4% | 4th lowest of 21 |
| 6-month return | -8.6% | -9.2% | 10th highest of 21 |
| Distance from 52-week high | -28.7% | -30.4% | 11th highest of 21 |
| Revenue growth (TTM) | -3.5% | +6.5% | 5th lowest of 21 |
| Operating margin | 6.2% | 7.4% | 10th lowest of 21 |
| Forward P/E | 10.7× | 16.7× | 2nd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | 1.9% | 9.8% | 4th least demanding of 13 |
| Growth delivered (Del g) | +6.6% | +7.3% | 7th highest of 13 |
| Hurdle (Req g minus delivered) | -4.7 pp | +7.3 pp | 4th least demanding of 13 |
| ROIC minus cost of capital | -1.7 pp | -2.0 pp | 8th highest of 21 |
| EV / EBITDA | 6.4× | 10.7× | 2nd cheapest of 11 |
| Net debt / EBITDA | 2.8× | 1.8× | 4th most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mitsui Chemicals 4183.T | Japan | $4.08B | -9% | -3% | 6% | 10.7× | 1.9% | +6.6% |
| Johnson Matthey JMAT.L | United Kingdom | $4.01B | +14% | +8% | 3% | 13.3× | 9.6% | -4.0% |
| Avient AVNT | United States | $4.17B | +23% | +5% | 11% | 13.0× | 9.9% | +0.1% |
| Hubei Xingfa Chemicals 600141.SS | China | $4.19B | -27% | +4% | 8% | 15.3× | n/a | n/a |
| Wacker Chemie WCH.DE | Germany | $4.42B | -24% | -5% | -1% | 33.0× | n/a | n/a |
| Kuraray 3405.T | Japan | $3.52B | +14% | +3% | 7% | 15.0× | -0.2% | +8.3% |
| Perimeter Solutions PRM | United States | $4.83B | -7% | +24% | -51% | 18.3× | 36.6% | +14.0% |
| Kingfa Sci. & Tech 600143.SS | China | $4.96B | -28% | -1% | 3% | 24.6× | -1.2% | +13.3% |
| Arkema AKE.PA | France | $4.96B | -9% | -6% | 5% | 13.7× | 12.5% | +2.8% |
| Tokyo Ohka Kogyo 4186.T | Japan | $5.03B | -30% | +22% | 21% | 17.8× | 19.9% | +15.1% |
| Grandit 688549.SS | China | $2.89B | +36% | +40% | -1% | n/a | n/a | n/a |
| CES Energy Solutions CEU.TO | Canada | $2.82B | +4% | +11% | 10% | 14.1× | 9.2% | +22.9% |
| Ecopro 086520.KS | South Korea | $6.55B | -57% | +11% | 9% | 31.5× | n/a | n/a |
| Nippon Shokubai 4114.T | Japan | $2.27B | +11% | +4% | 6% | 16.2× | 4.1% | +7.9% |
| Hubei Sinophorus Electronic Materials 688545.SS | China | $2.24B | +11% | +75% | 11% | 68.3× | n/a | n/a |
| Aether Industries AETHER.NS | India | $2.20B | +29% | +31% | 25% | 72.6× | n/a | n/a |
| Element Solutions ESI | United States | $7.61B | -29% | +40% | 14% | 15.0× | 16.6% | +6.6% |
| Ingevity NGVT | United States | $2.07B | -21% | -12% | 25% | 10.4× | -0.9% | -0.8% |
| Eternal Materials 1717.TW | Taiwan | $2.06B | -27% | -2% | 5% | 17.2× | 19.9% | +1.2% |
| Zhejiang Yongtai Technology 002326.SZ | China | $2.04B | -40% | +38% | 11% | n/a | n/a | n/a |
| Qingdao Huicheng Environmental Technology 300779.SZ | China | $2.02B | -9% | -13% | 5% | 129.3× | n/a | n/a |