Mitsui Chemicals: F3/26 Results: Share Price Poised for Recovery

研报英文原文证据摘录

Mitsui Chemicals: F3/26 Results: Share Price Poised for Recovery

Update

MayMay 13,13, 20262026 02:4703:58 PMPM GMTGMT

Morgan Stanley MUFG Securities Co., Ltd.+MMitsui Chemicals (4183) | Japan Takato Watabe

Equity Analyst

F3/26 Results: Share Price Takato.Watabe@morganstanleymufg.comRyoichi Watanabe +81 3 6836-5436

Ryoichi.Watanabe@morganstanleymufg.com +81 3 6836-8929

Poised for Recovery Kayoko Shoji

Research Associate

Kayoko.Shoji@morganstanleymufg.com +81 3 6836-5437

Reaction to earnings Kano Fujita

Unchanged In-line Largely unchanged Kano.Fujita@morganstanleymufg.com +81 3 6836-8932

Impact to our thesis Financial results versus consensus Direction of next 12-month

consensus EPS

Mitsui Chemicals (4183.T, 4183 JT)

Source: Company data, Morgan Stanley Research

Petrochemical Majors | Japan

Stock Rating Overweight

Key Takeaways Industry View Attractive

Price target ¥2,900

F3/26 core OP was in line with guidance and our estimate. Shr price, close (May 13, 2026) ¥1,999

Mkt cap, curr, basic (bn) ¥752.7

We think F3/27 core OP guidance sufficiently factors in Middle East impacts. Avg daily trading value (bn) ¥5.1

We expect continued share price recovery, supported by medium-term portfolio

Related report:

reforms.

Mitsui Chemicals: F3/26 Results 1st Impression:

No Surprise in Results or F3/27 Guidance (13F3/26 results in line with expectations, F3/27 guidance sufficiently factors in

May 2026)Middle East impacts in our view: Mitsui Chemicals reported results at 13:00 JST on

Petrochemical Majors: Jan-Mar Results Preview:May 13 and held an online briefing from 15:30 JST the same day. As the below table

Potential Guidance Surprises (27 Apr 2026)shows, F3/26 core OP landed close to guidance, our forecast and the market

Mitsui Chemicals: Nagoya Plant Tour: Hubconsensus.