Japan diversified chemicals, textiles, and paint: Implications of US/Iran ceasefire

Research evidence excerpt

Japan diversified chemicals, textiles, and paint: Implications of US/Iran ceasefire

Japan diversified chemicals, textiles, and paint: Global Markets Research

Implications of US/Iran ceasefire 15 June 2026

EQUITY: JAPAN CHEMICALS & TEXTILES

Likely to bring down costs, basically positive for Research Analysts

earnings Japan chemicals & textiles Shigeki Okazaki - NSC

Might be bad news for spreads on products that had been benefiting from shigeki.okazaki@nomura.com

Middle East turmoil +81 3 6703 1170

Daiki Ban - NSC

Iran has reportedly agreed to ceasefire with US daiki.ban@nomura.com

US President Donald Trump announced on social media in the early morning of 15 June +81 3 6703 1124

JST that the US and Iran had reached a ceasefire agreement, as did Iranian state- Yusho Yoshitake - NSC

controlled TV. Unlike before, Iran has not only reportedly agreed to a ceasefire with the yusho.yoshitake@nomura.com

US, but Pakistan has also announced that a ceasefire ceremony will be held in +81 3 6703 1169

Switzerland on 19 June, suggesting that agreement is highly likely. In this report, we look Takaomi Kono - NSC

at the impact on the diversified chemicals, textiles, and paint sectors. takaomi.kono@nomura.com

MMA and MDI spreads might fall +81 3 6703 1207

Crude oil prices have been falling in response to reports about a ceasefire agreement, Shu Kanbe, CFA - NSC

and we think this could lead to lower costs for diversified chemicals, textiles, and paint shu.kanbe@nomura.com

+81 3 6703 1214companies, which would be a positive for earnings. Moreover, tensions in the Strait of

Hormuz are likely to ease if and when a ceasefire agreement is signed. While it remains to

be seen how far tensions in the Strait will ease and whether this ceasefire agreement will