# Daito Chemix Corporation: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第80期(2025/04/01－2026/03/31) (S100YGAU)
> Page: https://vizora.meequs.com/en/company/daito-chemix
> Retrieved: 2026-09-30T20:29:32.832Z

## Company

Daito Chemix, founded in 1949, is a company in Chemicals listed on TSE Standard. It has 328 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | Daito Chemix Corporation |
| Ticker | 4366 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/4366.T) |
| Listing | TSE Standard |
| Head office | 大阪市鶴見区茨田大宮三丁目1番7号 |
| Representative (per filing) | 代表取締役 執行役員社長 住友朱之助 |
| Founded | Dec 1949 |
| Share capital | ¥2.9B |
| Employees (consolidated) | 328 |
| Average salary (parent only) | ¥7.6M |
| Fiscal year end | March |
| Corporate number | 4120001035442 |
| EDINET | E01014 |
| Industries (Vizora) | Chemicals, Semiconductor Materials, Waste Management & Recycling |

> Profile source: annual securities report (S100YGAU, filed 2026-06-24). As of filing

## Five-axis industry profile

Primary industry: Semiconductor Materials (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 37 | 23 |
| Profitability | 18.8 | 24 |
| Cash conversion | 93.8 | 24 |
| Efficiency | 77.1 | 24 |
| Financial strength | 70 | 5 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 91% of Daito Chemix's sales come from Chemical products, with Environment-related business making up much of the rest.
- Out of every ¥100 of sales, about ¥4 is left as operating profit.
- Revenue changed +4.5% from the prior year, operating profit +2.8%.

## Company structure

- Segment revenue mix: Chemical products 91.1%、Environment-related business 8.9%
- Revenue → net income: ¥19476000000 → ¥791000000
- Net income → operating cash flow: ¥791000000 → ¥2585000000（difference ¥1794000000）
- Main uses of operating cash flow: CapEx ¥867000000 / dividends ¥118000000 / buybacks ¥0
- Change in cash: ¥2078000000
Segment shares use total reported segment revenue, which may include inter-segment sales. The cash bridge is operating cash flow minus net income and combines non-cash items and working-capital effects.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥19.5B |  |
| Operating income | ¥872M | Margin 4.5% |
| Net income | ¥791M | Margin 4.1% |
| Free cash flow | ¥1.72B |  |
| Largest business | Chemical products | of segment revenue 91.1% |
| Employees (consolidated) | 328 |  |
| EPS | ¥34.21 |  |
| Book value per share | ¥476.03 |  |
| Equity ratio | 56.8% |  |
| Shares outstanding | 33,600,000 |  |
| Treasury shares | 1,393,900 |  |
| Shareholders | 5,619 |  |
| Average salary (parent only) | ¥7.6M | Filing company only |
| Cash ratio | 16.9% | Net cash -¥206M · Cash ÷ revenue 24.9% |
| Vs. industry median margin | -3.1 pp | Chemicals |
| ROE | 5.6% | Derived from disclosed figures |
| ROA | 3.0% | Derived from disclosed figures |

## Notable figures

- FY2026, operating cash flow is 3.3× net income
- FY2026, one segment accounts for 70% of positive segment profit
- FY2026, segment profit share differs by -21 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥13998000000 | ¥19476000000 | +39.1% |
| Operating income | ¥1443000000 | ¥872000000 | -39.6% |
| Operating margin | 10.3% | 4.5% | -5.8 pp |
| Employees | 272 people | 328 people | +20.6% |
| Cash and equivalents | ¥3254000000 | ¥4854000000 | +49.2% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 化成品事業 → 化成品事業 | 89.6% |
| 環境関連事業 → 環境関連事業 | 8.9% |
| 環境関連事業 → 事業再編・廃止 | 1.5% |
| 新設・再編 → 化成品事業 | 1.5% |

Segment revenue source references: 4 (derived)

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 19,476 | 100.0% | S100YGAU |
| Cost of revenue | 17,258 | 88.6% | S100YGAU |
| Gross profit | 2,218 | 11.4% | S100YGAU |
| SG&A | 1,345 | 6.9% | S100YGAU |
| Operating income | 872 | 4.5% | S100YGAU |
| Ordinary income | 894 | 4.6% | S100YGAU |
| Pretax income | 1,013 | 5.2% | S100YGAU |
| Income tax | 222 | 1.1% | S100YGAU |
| Net income | 791 | 4.1% | S100YGAU |
| Net income attributable to owners | 791 | 4.1% | S100YGAU |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 89 |
| SG&A | 7 |
| Operating income | 4 |
| (Ref.) Net income | 4 |

### Margin funnel

Gross margin 11.4% → Operating margin 4.5% → Net margin 4.1%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit up
Revenue growth: +4.5%; Core profit growth: +2.8%
Growth quality: revenue-led
Operating leverage (core profit growth ÷ revenue growth): 0.63×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 18,644 | 19,476 | 832 | +4.5% |
| Gross profit | 2,073 | 2,218 | 145 | +7.0% |
| Operating income | 848 | 872 | 24 | +2.8% |
| Net income attributable to owners | 820 | 791 | -29 | -3.5% |
| Operating cash flow | 2,746 | 2,585 | -161 | -5.9% |
| Free cash flow | 1,855 | 1,718 | -137 | -7.4% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2020 | 12,417 | 812 | 6.5% | 524 | 1,149 | 477 | S100LPLW |
| FY ending Mar 2021 | 13,998 | 1,443 | 10.3% | 1,092 | 2,526 | 2,138 | S100OGU3 |
| FY ending Mar 2022 | 16,134 | 1,763 | 10.9% | 1,583 | 1,150 | -342 | S100R2HH |
| FY ending Mar 2023 | 16,377 | 1,283 | 7.8% | 922 | 404 | -1,590 | S100TPE7 |
| FY ending Mar 2024 | 15,811 | 776 | 4.9% | -1,005 | 1,048 | -1,708 | S100W11B |
| FY ending Mar 2025 | 18,644 | 848 | 4.5% | 820 | 2,746 | 1,855 | S100YGAU |
| FY ending Mar 2026 | 19,476 | 872 | 4.5% | 791 | 2,585 | 1,718 | S100YGAU |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥59.4M |
| Operating income per employee (consolidated) | ¥2.7M |
| Net income per employee (consolidated) | ¥2.4M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 292 | 306 | 304 | 315 | 328 |
| Average salary (parent company) | ¥7.4M | ¥6.9M | ¥6.4M | ¥6.4M | ¥7.6M |
| Average age (parent company) | 43.3 years | 42.6 years | 41.9 years | 41.1 years | 40.7 years |
| Average tenure (parent company) | 18.2 years | 16.2 years | 16.5 years | 15.5 years | 14.9 years |

Year over year: Employees (consolidated) +4.1% · Revenue (consolidated) +4.5%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Chemical products | 17,742 | 91.1% | 605 | 3.4% |
| Environment-related business | 1,734 | 8.9% | 258 | 14.9% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Chemical products | 91.1% | 70.1% | -21.0 | 3.4% |
| Environment-related business | 8.9% | 29.9% | 21.0 | 14.9% |

Segment → industry: Chemical products → Chemicals / Chemical products → Semiconductor Materials / Environment-related business → Waste Management & Recycling

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 2,585 | 13.3% | S100YGAU |
| Capital expenditure | 867 | 4.5% | S100YGAU |
| Free cash flow | 1,718 | 8.8% | 算出 |
| Investing cash flow | -1,839 | -9.4% | S100YGAU |
| Financing cash flow | 1,332 | 6.8% | S100YGAU |
| Dividends paid | 118 | 0.6% | S100YGAU |
| Share buyback | 0 | 0.0% | S100YGAU |
| Change in cash | 2,078 | 10.7% | S100YGAU |
| Cash and equivalents | 4,854 | 24.9% | S100YGAU |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 3,423 | 2,394 | 2,252 | 2,775 | 4,854 | S100TPE7, S100W11B, S100YGAU |
| Total assets | 21,535 | 24,698 | 24,980 | 24,330 | 28,797 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Net assets | 14,284 | 15,175 | 14,536 | 14,855 | 16,358 | S100TPE7, S100W11B, S100YGAU |
| Share capital | 2,901 | 2,901 | 2,901 | 2,901 | 2,901 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Property, plant and equipment | 6,600 | 9,119 | 9,105 | 8,381 | 9,031 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Intangible assets excluding goodwill | 86 | 117 | 135 | 107 | 110 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Investment securities | 2,866 | 3,014 | 2,649 | 2,100 | 3,876 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Current assets | 11,785 | 12,287 | 12,955 | 13,530 | 15,570 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Current liabilities | 4,906 | 6,477 | 5,950 | 6,298 | 8,302 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Trade payables | 1,489 | 1,463 | 1,162 | 1,680 | 2,317 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Short-term borrowings | 900 | 700 | 1,425 | 1,525 | 1,500 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Long-term borrowings | 1,930 | 1,830 | 2,690 | 2,125 | 3,360 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Bonds | 268 | 909 | 627 | 400 | 200 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Interest-bearing debt | 3,098 | 3,439 | 4,742 | 4,050 | 5,060 | 算出 |
| Total liabilities | 7,250 | 9,522 | 10,444 | 9,475 | 12,438 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Equity attributable to owners of parent | 13,301 | 14,085 | 12,961 | 13,674 | 14,347 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Retained earnings | 6,228 | 7,011 | 5,887 | 6,600 | 7,273 | S100R2HH, S100TPE7, S100W11B, S100YGAU |
| Treasury stock | -249 | -249 | -249 | -249 | -249 | S100R2HH, S100TPE7, S100W11B, S100YGAU |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 17% | S100YGAU |
| Property, plant and equipment | 31% | S100YGAU |
| Intangibles and goodwill | 0% | S100YGAU |
| Investment securities | 14% | S100YGAU |
| Other assets | 38% | S100YGAU |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 8% | S100YGAU |
| Interest-bearing debt | 17% | 算出 |
| Other liabilities | 18% | S100YGAU |
| Equity | 57% | S100YGAU |
| Other liabilities | 0% | S100YGAU |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 21,535 | 24,698 | 24,980 | 24,330 | 28,797 |
| Equity | 14,284 | 15,175 | 14,536 | 14,855 | 16,358 |
| Interest-bearing debt | 3,098 | 3,439 | 4,742 | 4,050 | 5,060 |
| Cash | 3,423 | 2,394 | 2,252 | 2,775 | 4,854 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 46.4% | S100YGAU |
| Fixed assets ÷ total assets | 31.4% | S100YGAU |
| Goodwill ÷ parent equity | — | —, S100YGAU |

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 16.9% |
| Cash ÷ revenue | 24.9% |
| Net cash (cash − interest-bearing debt) | -¥206M |
| Net debt ÷ operating cash flow | 0.08× |
| Cash conversion (operating CF ÷ operating income) | 296.4% |
| Cash vs. profit gap | 1,794 JPY mn (of net income 226.8%) |
| Shareholder returns / net income | 14.9% |
| Shareholder returns / FCF | 6.9% |
| Shareholder payments — dividends / net income | 14.9% |
| Shareholder payments — dividends / FCF | 6.9% |
| CapEx intensity (capex ÷ revenue) | 4.5% |
| Investing CF relative to operating CF | 71.1% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 9.8% | 0.75× | 7.4% | 1.62× | 11.9% | S100R2HH |
| 2023 | 5.6% | 0.71× | 4.0% | 1.69× | 6.7% | S100TPE7 |
| 2024 | — | —× | -4.0% | —× | — | S100W11B |
| 2025 | 4.4% | 0.76× | 3.3% | 1.85× | 6.2% | S100YGAU |
| 2026 | 4.1% | 0.73× | 3.0% | 1.90× | 5.6% | S100YGAU |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| 平松 裕将 | Major shareholder | 13.2% | 2026-03-31 |
| 東京応化工業㈱ | Major shareholder | 4.9% | 2026-03-31 |
| 三木産業㈱ | Major shareholder | 4.7% | 2026-03-31 |
| 日本生命保険(相) | Major shareholder | 4.7% | 2026-03-31 |
| ダイトーケミックス取引先持株会 | Major shareholder | 4.6% | 2026-03-31 |
| 大阪有機化学工業㈱ | Major shareholder | 3.8% | 2026-03-31 |
| 竹中 一雄 | Major shareholder | 3.5% | 2026-03-31 |
| ＫＯＲＥＡ ＳＥＣＵＲＩＴＩＥＳ ＤＥＰＯＳＩＴＯＲＹ－ＳＨＩＮＨＡＮＳＥＣＵＲＩＴＩＥＳ （常任代理人：シティバンク、エヌ・エイ東京支店） | Major shareholder | 2.8% | 2026-03-31 |
| ダイトーケミックス社員持株会 | Major shareholder | 2.1% | 2026-03-31 |
| 日本精化㈱ | Major shareholder | 1.9% | 2026-03-31 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第80期(2025/04/01－2026/03/31) | S100YGAU | 2026-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YGAU,, |
| 有価証券報告書－第79期(2024/04/01－2025/03/31) | S100W11B | 2025-06-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W11B,, |
| 有価証券報告書－第78期(2023/04/01－2024/03/31) | S100TPE7 | 2024-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TPE7,, |
| 有価証券報告書－第77期(2022/04/01－2023/03/31) | S100R2HH | 2023-06-26 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100R2HH,, |
| 有価証券報告書－第76期(令和3年4月1日－令和4年3月31日) | S100OGU3 | 2022-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OGU3,, |
| 有価証券報告書－第75期(令和2年4月1日－令和3年3月31日) | S100LPLW | 2021-06-25 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LPLW,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).