DaicelDAICEL CORPORATION4202東証プライム化学FY ending Mar 2026, consolidated, J-GAAP

Daicel FY ending Mar 2026 results

About 44% of Daicel's sales come from Engineering Plastics, with Materials and Safety making up much of the rest.

Out of every ¥100 of sales, about ¥7 is left as operating profit.

Revenue changed -1.2% from the prior year, operating profit -31.0%.

Revenue and profit pattern

Revenue and profit down

Revenue -1.2% · profit -31.0%, calculated from disclosed figures.

Operating leverage: 26.38× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue: -1.2%¥586.5B → ¥579.6B
Gross profit: -11.2%¥164.7B → ¥146.3B
Operating income: -31.0%¥61B → ¥42.1B
Net income attributable to owners: -79.4%¥49.5B → ¥10.2B
Operating cash flow: -27.4%¥93.4B → ¥67.8B
Free cash flow: -100.8%¥21.1B → -¥178M

Results at a glance

Revenue for FY ending Mar 2026 was ¥579.6B, down 1.2% from ¥586.5B.
Operating income fell 31.0% to ¥42.1B, and net income attributable to owners dropped 79.4% to ¥10.2B.
Operating cash flow shrank to ¥67.8B, not quite enough to cover ¥68B of capital spending, so free cash flow slipped to -¥178M.

What drove the change

Daicel booked an impairment on a COC resin plant still under construction, because demand is growing more slowly and the build is costing more than planned. This drove most of the drop in net income.
In Materials, weak demand for the main uses of acetic acid pushed prices down, while customer inventory cuts in acetate tow and currency moves also hurt sales and profit.
Engineering Plastics grew sales but earned less due to higher depreciation and scheduled maintenance costs. Safety did better, selling more inflators in China and India.

Things to watch

Its car and chip/electronics markets swing quickly, and US tariffs and tension in the Middle East could hit demand and prices.
Rising construction costs or delays on new plants could lower returns and lead to further impairments.
Methanol, a key raw material, can jump in price when large suppliers have outages or maintenance.

Annual Securities Report, 160th term (Apr 2025 - Mar 2026) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report, 160th term (Apr 2025 - Mar 2026) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

For every ¥100 Daicel sells, how much goes where, and how much is kept.

FY ending Mar 2026

Cost of sales: ¥75
SG&A: ¥18
Operating profit: ¥7
Net profit kept: ¥2

Annual margin trends

Gross margin25.2%

Operating margin7.3%

Net margin1.8%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Engineering Plastics¥254.7B
44%
Op. margin 7.5%Industry: Chemicals
Materials¥161.3B
28%
Op. margin 9.3%Industry: Chemicals
Safety¥104.2B
18%
Op. margin 5.9%Industry: Auto Parts
Smart¥37.7B
7%
Op. margin 1.4%Industry: Semiconductor Materials
Medical / Healthcare¥16.2B
3%
Op. margin 2.6%Industry: Chemicals
Other¥5.45B
1%
Op. margin 16.6%

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書－第160期(2025/04/01－2026/03/31)
ID S100YBO02026-06-17Open
EDINET (FSA Japan)
有価証券報告書－第159期(2024/04/01－2025/03/31)
ID S100VYQ92025-06-18Open
EDINET (FSA Japan)
有価証券報告書－第158期(2023/04/01－2024/03/31)
ID S100TPVN2024-06-24Open
EDINET (FSA Japan)
有価証券報告書－第157期(2022/04/01－2023/03/31)
ID S100R12O2023-06-26Open
EDINET (FSA Japan)
訂正有価証券報告書－第156期(令和3年4月1日－令和4年3月31日)
ID S100OOJW2022-07-07Open
EDINET (FSA Japan)
有価証券報告書－第155期(令和2年4月1日－令和3年3月31日)
ID S100LS802021-06-28Open

Extracted from XBRL: 56 / Derived from other figures: 2

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