Diversified chemicals · Semiconductor & display materials · Industrial gases & petrochemicals
Mitsubishi Chemical Holdings
Japan's largest diversified chemical group, running four segments: Specialty Materials (semiconductor and display materials), Industrial Gases, Basic Materials & Polymers (petrochemicals) and MMA. It is expanding EUV/ArF photoresists, ultrapure-water resins, precision cleaning and synthetic silica for the growing semiconductor market, while spinning off and consolidating loss-making petrochemicals and divesting pharma (Mitsubishi Tanabe). Nikkei 225 constituent.
4188.T Updated Sep 4, 2026 4 AI consumers· 3 recurring
Per the valuechain.wiki graph, Mitsubishi Chemical Holdings is directly linked to 1 companies (0 supply, 1 revenue relationships) and reaches 4 companies within two hops; the links are backed by 7 dated sources, 3 of them primary filings (as of 2026-09-04).
Financials & Segments
- Total revenue · ~¥4.41T (FY2024, ended Mar 2025)
- Segments · Specialty Materials (semiconductor & display materials) · Industrial Gases · Basic Materials & Polymers (petrochemicals) · MMA & Derivatives · Pharma (Mitsubishi Tanabe, divestment pending)
Revenue from
- 글로벌 산업가스 수요처 (철강·전자·의료·화학) High confidence· segment revenue 1,301,100,000,000엔 · 산업가스 FY2024(2025.3월기) · MCG consolidated results
Industrial Gases revenue ¥1,301.1bn (FY2024, the single largest segment) with core OP ¥186.1bn, lifted by regional price management and cost cuts. Signed May 2024 to acquire Wesfarmers Kleenheat's LPG business in Australia.Confirms KO Investing.com Published Nov 5, 2025: Mitsubishi Chemical: net income up 169% despite lower revenue (H1 FY2025)Confirms EN Mitsubishi Chemical Group Published May 13, 2025: Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (IFRS) - 반도체·디스플레이 제조사 (EUV·ArF 포토레지스트·초순수 이온교환수지·정밀세정·합성실리카) High confidence· segment revenue 1,081,300,000,000엔 · 스페셜티 머티리얼즈 FY2024(2025.3월기) · MCG consolidated results
Specialty Materials revenue ¥1,081.3bn (FY2024). Riding the semiconductor market, MCG is expanding Lithomax EUV/ArF photoresists (Kyushu-Fukuoka, on-stream Sep–Oct 2025), ultrapure-water ion-exchange resins, semiconductor precision cleaning (new Fukushima + Iwate, on-stream Oct 2026) and synthetic silica powder (+35%).Confirms EN TradingView Published Nov 1, 2025: Mitsubishi Chemical Group (TSE:4188) analyst estimates & price targetsConfirms EN Mitsubishi Chemical Group Published May 13, 2025: Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (IFRS) - 자동차·EV·엔지니어링플라스틱 고객 (탄소섬유복합재·LiB 음극재) Medium confidence
Serves automotive/EV customers with high-performance engineering plastics and carbon-fiber composites via Advanced Solutions/Composites. Decided Dec 2024 to expand Kagawa Plant natural-graphite anode capacity for automotive Li-ion batteries (11,000 t/yr, on-stream Oct 2026).Mentions EN Mitsubishi Chemical Group Published May 13, 2025: Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (IFRS) - Cosmo Advanced Materials & Technology Medium confidence
Supplies resin for toner to Cosmo Advanced Materials & Technology (Korea); rising petrochemical prices are creating pressure to raise selling prices.
Pays to
- 나프타·원유 피드스톡 공급사 High confidence· input price 75,600 엔/KL · 나프타 평균가 FY2024(2025.3월기) · MCG results assumption
Core feedstock for Basic Materials & Polymers (petrochemicals, ¥972.4bn revenue) and MMA. FY2024 average naphtha price ¥75,600/KL, up from ¥65,000. The raw-material-to-product price gap drives segment profitability.Confirms KO AlphaBiz Published Aug 8, 2025: Mitsubishi Chemical (4188 JP): restructuring wrapped up, targeting ¥100bn chemicals profitConfirms EN Mitsubishi Chemical Group Published May 13, 2025: Consolidated Financial Results for the Fiscal Year Ended March 31, 2025 (IFRS) - 전력·연료 (에너지 집약 화학·공기분리 공정) Medium confidence
Ethylene cracking, MMA and air-separation (industrial gases) are energy-intensive. MCG is reshaping energy/structural costs via western-Japan ethylene carbon-neutral consolidation (three-way JV with Mitsui Chemicals & Asahi Kasei, MCG 45%) and coke-oven reductions.Mentions EN Hydrocarbon Processing Published May 27, 2026: Mitsubishi Chemical Group considers spinning off petrochemicals businessMentions EN Mitsubishi Chemical Group Published Aug 8, 2025: Consolidated Financial Results for Q1 FY ending March 31, 2026
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Samsung Electro-Mechanics | lead2 | -11.8 | -18.5 | -1.4 | -2.5 | +110 | +402.2 |
| Samsung SDI | lead2 | -19 | +15.8 | -45.7 | -40.2 | +75.7 | +40.5 |
| LG Chem | lead2 | -29 | +9.7 | -36.6 | -45.3 | +31.2 | -8.6 |
| Cosmo Advanced Materials & Technology | lead1 | +121.4 | +48.7 | +128.9 | -60.4 | -3.4 | -23.5 |
| Mitsubishi Chemical Holdings | node | +29 | -15.5 | +27.7 | -8.1 | +33.5 | +23.4 |
YTD as of 2026-09-04 · source: Yahoo Finance
Mitsubishi Chemical Holdings operates across Nikkei 225. It is +23.4% in 2026. The stock (+23.4%) and its demand side (avg -23.5%) are moving in step. Nikkei 225 constituent.
Analysis generated from returns as of 2026-09-04