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Overview

Chemicals

Nippon Chemical Industrial Co.,Ltd.

Nippon Chemical Industrial is a Japanese manufacturer and distributor of inorganic and specialty chemicals, organized into two core segments: Chemicals (化学品事業) and Specialties (機能品事業). Its product portfolio spans chromium, silica, phosphorus, and barium-based inorganic chemicals, as well as high-value functional materials including electronic ceramic materials, circuit materials, battery materials, semiconductor materials, pharmaceutical intermediates, agrochemical active ingredients, and organic phosphorus compounds (including phosphine derivatives). The company serves a broad range of end markets including electronics, energy storage, life sciences, and advanced materials, leveraging over a century of expertise in inorganic chemistry.

Activists: Former Murakami Fund group (City Index Eleventh, Reno, Minamiaoyama Real Estate) 4.94%

Market Cap

¥41.2B

US$262M

¥36.5B

US$233M

Stock¥4,750▲+0.96%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

5.8

LTM EV/EBIT

14.8

LTM PER

15.9

LTM PBR

0.7

Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+41.5%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Jul 23, 26Former Murakami Fund group (City Index Eleventh, Reno, Mi… filed large shareholding report

2Jul 24, 26Former Murakami Fund group (City Index Eleventh, Reno, Minami… changed stake (5.59%→6.59%)

3Jul 28, 26Former Murakami Fund group (City Index Eleventh, Reno, Minami… changed stake (6.59%→7.84%)

4Jul 31, 26Board approved share buyback

5Aug 12, 26Q1 FY2027/03 earnings announced

MC → EV Bridge

AI Briefing

Century-old inorganic/specialty chemicals maker spanning Chromium, silica, phosphorus plus electronic ceramics, battery and semiconductor materials. FY26/3 revenue ¥40.2B but OP margin slipped to 6.0% from 8.6% a year earlier, signaling cost or mix pressure despite top-line growth. Market cap ¥42.3B vs EV ¥37.6B with net cash position; no tender offer in data, so trades as a standalone specialty chemicals name.

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

79%

21%

EquityD/E 0.26xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 40.5%

as of 2026-03-31 · Source: Annual Securities Report

Nippon Chemical Industrial Co.,Ltd. Business Partners' Stock Ownership Association

10.50%

The Master Trust Bank of Japan, Ltd. (Trust Account)

10.31%

Meiji Yasuda Life Insurance Company (Standing Proxy: Custody Bank of Japan, Ltd.)

4.07%

INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)

3.08%

MATSUI SECURITIES CO.,LTD.

2.57%

Custody Bank of Japan, Ltd. (Trust Account)

2.35%

Konishi Yasu Co., Ltd.

2.10%

Nippon Chemical Industrial Co.,Ltd. Employee Stock Ownership Association

1.91%

STATE STREET BANK AND TRUST COMPANY 505103 (Standing Proxy: Mizuho Bank, Ltd.)

1.84%

Eiji KAWAI

1.81%

Management

6 officers

Yota TANAHASHI

Representative Director, President, Chairman of the Board of Directors and Chairman of the Management Committee

Apr 2000 Joined Sumitomo 3M Limited (currently 3M Japan Limited) Feb 2007 Joined the Company Jun 2008 Same company, Attached to Organic Division, General Manager Jul 2009 Same company, Deputy General Manager, Sales Division Apr 2011 Same company, Executive Officer and General Manager, Corporate Planning Office Jun 2012 Same company, Director, Managing Executive Officer and General Manager, Sales Division Apr 2014 Same company, Director, Managing Executive Officer and General Manager, Sales Division Representative Director, NC Tech Co., Ltd. Jun 2015 Representative Director, Keiyo Chemical Co., Ltd. (current) Jun 2015 Same company, Representative Director, Senior Managing Executive Officer, in charge of Corporate Planning Office, Business Promotion Division and Sales Division Apr 2017 Same company, Representative Director, President, Chairman of the Board of Directors and Chairman of the Management Committee (current)

1976-03-13

Hirokatsu AIKAWA

Director, Managing Executive Officer, in charge of Production Engineering Division and Research & Development Division

Apr 1981 Joined the Company Jul 2009 Same company, General Manager, Tokuyama Plant Jul 2012 Same company, Deputy General Manager, R&D Division and Manager, Chemical Products Research Department Apr 2014 Same company, Executive Officer, General Manager, R&D Division and Manager, Chemical Products Research Department Jul 2015 Same company, Executive Officer, General Manager, R&D Division Aug 2016 Same company, Executive Officer, General Manager, R&D Division and Manager, Research Management Department Apr 2017 Same company, Executive Officer, General Manager, Production Engineering Division Jun 2017 Same company, Director and Executive Officer, General Manager, Production Engineering Division Jun 2019 Same company, Director and Managing Executive Officer, General Manager, Production Engineering Division Jan 2020 Same company, Director and Managing Executive Officer, General Manager, Production Engineering Division and Manager, Production Engineering Department Apr 2020 Same company, Director and Managing Executive Officer, General Manager, Production Engineering Division Oct 2021 Same company, Director and Managing Executive Officer, in charge of Production Engineering Division Jun 2022 Same company, Director and Managing Executive Officer, in charge of Production Engineering Division and R&D Division (current)

1958-02-02

Manabu SATO

Director (Full-time Audit and Supervisory Committee Member)

Apr 1987 Joined the Company Jun 2012 Same company, General Manager, Accounting Department Jun 2021 Same company, Director (Audit and Supervisory Committee Member) (current)

1962-05-01

Tomoko TADA

Director (Audit and Supervisory Committee Member)

Apr 1993 Joined Chugai Pharmaceutical Co., Ltd. Aug 2002 Head, Consert Social Insurance and Labor Consultant Office (currently Tada International Social Insurance and Labor Consultant Corporation) Mar 2006 Earned MBA, Graduate School of Innovation Management, Hosei University; master's thesis "Labor Disputes in the ADR Era" received Excellence Award Apr 2011 Established Overseas Labor Consulting Department (currently within Tada International Social Insurance and Labor Consultant Corporation) Feb 2015 Established Work-Life Balance Institute (currently within Tada International Social Insurance and Labor Consultant Corporation) Jun 2019 Outside Audit & Supervisory Board Member, Muro Corporation Jun 2021 Director (Audit and Supervisory Committee Member), the Company (current) Nov 2021 Member Partner, Tada International Social Insurance and Labor Consultant Corporation (current) Jun 2022 Outside Director (Audit and Supervisory Committee Member), Muro Corporation (current) Feb 2024 Representative Director, Tada International Consulting Co., Ltd. (current) Jun 2025 Outside Audit & Supervisory Board Member, SG Holdings Co., Ltd. (current)

1972-05-16

Ken KENMOCHI

Director (Audit and Supervisory Committee Member)

Oct 2003 Joined Chuo Aoyama Audit Corporation, Kyoto Office (currently PwC Japan LLC) Mar 2007 Registered as Certified Public Accountant Jun 2012 Left the above firm; established Ken Kenmochi Certified Public Accountant Office, Representative (current) Jun 2013 Outside Audit & Supervisory Board Member, the Company Jun 2015 Outside Director (Audit and Supervisory Committee Member), the Company Apr 2017 Senior Managing Director, Takayoshi Co., Ltd. (currently Takayoshi Holdings Co., Ltd.) Dec 2021 Representative Director and Executive Vice President, Takayoshi Co., Ltd. Mar 2023 Outside Director, Nihon Aqua Co., Ltd. (current) Jun 2023 Director (Audit and Supervisory Committee Member), the Company (current) Mar 2024 Outside Director, CDG Co., Ltd. Jun 2025 Secretary, Chiba Chapter, Japan Institute of Certified Public Accountants (current) Mar 2026 Representative Director, General Incorporated Association Japan Culture Content Promotion Committee (current)

1979-06-13

Shingo TOGI

Director (Audit and Supervisory Committee Member)

Apr 1983 Joined Tomoe Engineering Co., Ltd. Nov 1998 Regional Marketing Manager, The Dow Chemical Company Jan 2006 Executive Director, Automotive North America, The Dow Chemical Company Oct 2010 Representative Director, President and GM Country Manager, ISP Japan Ltd. Oct 2016 Director, Container Business Division, NRS Corporation Oct 2018 Managing Director, General Manager, Sales Division, NRS Corporation Oct 2020 Representative Director, President and COO, NRS Corporation Dec 2024 Adviser, NRS Corporation Jun 2025 Director (Audit and Supervisory Committee Member), the Company (current)

1959-08-01

Large Shareholding Reports

Nomura Asset Management Co., Ltd.

2026-10-06

3.04%

Teacher Retirement System of Texas

2026-08-20

5.55%

―

2026-08-18

6.57%→4.94%

―

2026-08-17

8.06%→6.57%

―

2026-08-13

8.91%→8.06%

―

2026-08-12

8.91%→8.91%

―

2026-08-05

8.91%→8.91%

Nippon Chemical Industrial Business Partners Shareholding Association, Chairman: Shigeru MASUNO

2026-08-04

9.98%→0.00%

―

2026-07-29

7.84%→8.91%

C&I Holdings Co., Ltd.

2026-07-28

6.59%→7.84%

C&I Holdings Co., Ltd.

2026-07-24

5.59%→6.59%

STYLE BLEACH Co., Ltd.

2026-07-23

5.07%→0.00%

C&I Holdings Co., Ltd.

2026-07-23

5.59%

STYLE BLEACH Co., Ltd.

2026-07-16

5.07%

Nomura Asset Management Co., Ltd.

2026-07-06

3.82%→4.54%

Nomura Asset Management Co., Ltd.

2026-06-19

3.82%

Nomura Asset Management Co., Ltd.

2026-06-04

4.43%→3.93%

Nomura Asset Management Co., Ltd.

2026-05-21

4.43%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-10-06

Large Shareholding Report

Nippon Chemical Industrial Co.,Ltd.

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Nippon Chemical Industrial Co.,Ltd.

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