Income Statement Nissan Chemical Corporation

Equities

4021

JP3670800006

Diversified Chemicals

Market Closed - Japan Exchange Other stock markets 01:30:00 2026-01-16 EST			5-day change	1st Jan Change
5,503.00 ^JPY	-0.13%		+1.81%	+2.61%

01-06	Tranche Update on Nissan Chemical Corporation's Equity Buyback Plan announced on May 15, 2025.	CI
12-29	Citi Downgrades Nissan Chemical to Neutral From Buy; Price Target is 6,000 Yen	MT

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Published financial data: NISSAN CHEMICAL CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	209B	208B	228B	227B	251B
Total Revenues	209B	208B	228B	227B	251B
Cost of Goods Sold, Total	121B	107B	121B	122B	135B
Gross Profit	87.74B	101B	107B	105B	117B
Selling General & Admin Expenses, Total	37.2B	41.22B	45.3B	47.11B	51.62B
Provision for Bad Debts	2M	7M	2M	1M	28M
R&D Expenses	4.38B	5.05B	5.15B	5.15B	4.86B
Depreciation & Amortization - (IS)	3.63B	3.85B	4.07B	4.31B	3.2B
Other Operating Expenses, Total	45.21B	50.13B	54.52B	56.57B	59.71B
Operating Income	42.53B	50.96B	52.28B	48.2B	56.83B
Interest Expense, Total	-69M	-73M	-252M	-526M	-709M
Interest And Investment Income	997M	817M	1.53B	1.72B	1.94B
Net Interest Expenses	928M	744M	1.27B	1.2B	1.23B
Income (Loss) On Equity Invest.	1.12B	950M	1.48B	536M	1.06B
Currency Exchange Gains (Loss)	-52M	1.13B	1.3B	2.21B	-153M
Other Non Operating Income (Expenses)	59M	699M	275M	428M	-82M
EBT, Excl. Unusual Items	44.59B	54.49B	56.61B	52.57B	58.89B
Gain (Loss) On Sale Of Investments	1.59B	2.26B	811M	979M	1.25B
Gain (Loss) On Sale Of Assets	-696M	-798M	-822M	-945M	-873M
Asset Writedown	-	-	-	-823M	-3.88B
Other Unusual Items	-	-1.79B	-	-	4.08B
EBT, Incl. Unusual Items	45.48B	54.16B	56.6B	51.78B	59.47B
Income Tax Expense	11.99B	15.03B	15.19B	13.58B	16.52B
Earnings From Continuing Operations	33.5B	39.13B	41.42B	38.2B	42.95B
Net Income to Company	33.5B	39.13B	41.42B	38.2B	42.95B
Minority Interest	-25M	-357M	-329M	-172M	92M
Net Income - (IS)	33.47B	38.78B	41.09B	38.03B	43.04B
Net Income to Common Incl Extra Items	33.47B	38.78B	41.09B	38.03B	43.04B
Net Income to Common Excl. Extra Items	33.47B	38.78B	41.09B	38.03B	43.04B
Per Share Items
Net EPS - Basic	231.72	271.88	291.36	272.82	313.26
Basic EPS - Continuing Operations	231.72	271.88	291.36	272.82	313.26
Basic Weighted Average Shares Outstanding	144M	143M	141M	139M	137M
Net EPS - Diluted	231.72	271.88	291.36	272.82	313.26
Diluted EPS - Continuing Operations	231.72	271.88	291.36	272.82	313.26
Diluted Weighted Average Shares Outstanding	144M	143M	141M	139M	137M
Normalized Basic EPS	192.77	236.27	248.58	234.46	268.55
Normalized Diluted EPS	192.77	236.27	248.58	234.46	268.55
Dividend Per Share	104	122	164	164	174
Payout Ratio	40.72	39.89	48.88	60.4	52.69
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	52.96B	61.18B	63.26B	62B	71.21B
EBITA	42.61B	51.06B	52.38B	48.3B	56.89B
EBIT	42.53B	50.96B	52.28B	48.2B	56.83B
Effective Tax Rate - (Ratio)	26.35	27.74	26.83	26.22	27.78
Normalized Net Income	27.84B	33.7B	35.05B	32.69B	36.9B
Non-Cash Pension Expense	-96M	21M	81M	-190M	-350M
Supplemental Operating Expense Items
Selling and Marketing Expenses	865M	1.02B	1.02B	1.05B	1.16B
Research And Development Expense From Footnotes	16.46B	16.02B	16.84B	17.33B	17.58B

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	32.38B	34.66B	29.65B	22.74B	27.45B
Total Cash And Short Term Investments	32.38B	34.66B	29.65B	22.74B	27.45B
Accounts Receivable, Total	73.91B	79.94B	82.63B	88.75B	89.07B
Other Receivables	2.53B	2.82B	2.11B	2.96B	2.15B
Notes Receivable	1.22B	1.54B	3.09B	2.15B	2.26B
Total Receivables	77.66B	84.3B	87.83B	93.86B	93.47B
Inventory	46.65B	52.18B	64.67B	78.18B	80.15B
Deferred Tax Assets Current	-	-	-	-	-
Other Current Assets, Total	2.9B	4.14B	7.31B	7.19B	9.28B
Total Current Assets	160B	175B	189B	202B	210B
Net Property Plant And Equipment	51.84B	53.18B	64.65B	77.37B	72.42B
Long-term Investments	41.75B	35.21B	32.54B	32.8B	33.82B
Goodwill	-	-	-	-	-
Other Intangibles, Total	12.13B	11.78B	11.54B	10.75B	13.46B
Loans Receivable Long-Term	-	3.32B	-	50M	133M
Deferred Tax Assets Long-Term	205M	918M	531M	519M	567M
Other Long-Term Assets, Total	2M	1M	2M	1M	1M
Total Assets	266B	280B	299B	323B	331B
Liabilities
Accounts Payable, Total	16.3B	19.04B	19.94B	20.43B	19.88B
Accrued Expenses, Total	2.26B	2.28B	2.41B	2.55B	2.58B
Short-term Borrowings	20.94B	20.98B	25.33B	39.06B	28.98B
Current Portion of Long-Term Debt	552M	552M	624M	634M	514M
Current Income Taxes Payable	7.11B	8.71B	7.88B	4.94B	9.96B
Other Current Liabilities	12.59B	14.4B	15.98B	18.95B	17.31B
Total Current Liabilities	59.74B	65.97B	72.16B	86.56B	79.22B
Long-Term Debt	1.18B	1.18B	1.34B	1.28B	10.98B
Pension & Other Post Retirement Benefits	249M	290M	377M	467M	542M
Deferred Tax Liability Non Current	1.31B	69M	98M	1.43B	1.06B
Other Non Current Liabilities	2.46B	4.17B	3.22B	2.81B	2.78B
Total Liabilities	64.95B	71.68B	77.19B	92.56B	94.58B
Common Stock, Total	18.94B	18.94B	18.94B	18.94B	18.94B
Additional Paid In Capital	13.61B	13.61B	13.61B	13.61B	13.61B
Retained Earnings	162B	172B	182B	182B	193B
Treasury Stock	-7.34B	-8.26B	-6.11B	-943M	-2.59B
Comprehensive Income and Other	11.9B	9.22B	9.57B	13.53B	10.4B
Total Common Equity	199B	206B	218B	227B	233B
Minority Interest	1.73B	2.1B	3.11B	3.43B	2.89B
Total Equity	201B	208B	222B	231B	236B
Total Liabilities And Equity	266B	280B	299B	323B	331B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	143M	141M	140M	138M	136M
ECS Total Common Shares Outstanding	144M	142M	140M	139M	136M
Book Value / Share	1.38K	1.45K	1.56K	1.64K	1.71K
Tangible Book Value	187B	194B	207B	217B	220B
Tangible Book Value Per Share	1.3K	1.37K	1.47K	1.56K	1.61K
Total Debt	22.67B	22.72B	27.29B	40.98B	40.47B
Net Debt	-9.71B	-11.94B	-2.36B	18.24B	13.02B
Debt Equivalent of Unfunded Proj. Benefit Obligation	-2.23B	-1.56B	-1.76B	-3.27B	-4.24B
Minority Interest, Total (Incl. Fin. Div)	1.73B	2.1B	3.11B	3.43B	2.89B
Inventories - Raw Materials, Total	12.85B	14.5B	17.7B	21.37B	22.62B
Inventories - Work In Process, Total	23M	15M	18M	5M	19M
Inventories - Finished Goods, Total	33.77B	37.66B	46.95B	56.8B	57.5B
Full Time Employees	2.69K	2.74K	2.96K	3.14K	3.28K
Accumulated Allowance for Doubtful Accounts (Supple)	31M	41M	44M	48M	64M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	45.48B	54.16B	56.6B	51.78B	59.47B
Depreciation & Amortization - CF	10.35B	10.12B	10.88B	13.7B	14.32B
Amortization of Goodwill and Intangible Assets - (CF)	78M	103M	101M	101M	53M
Depreciation & Amortization, Total	10.42B	10.22B	10.98B	13.8B	14.37B
(Gain) Loss From Sale Of Asset	696M	682M	817M	1.76B	4.71B
(Gain) Loss on Sale of Investments - (CF)	-1.59B	-2.89B	-811M	-979M	-1.25B
Other Operating Activities, Total	-10.15B	-12.07B	-14.78B	-15.37B	-9.77B
Change In Accounts Receivable	-1.02B	-5.7B	-2.36B	-4.91B	-217M
Change In Inventories	-2.4B	-6.23B	-12.38B	-12.42B	-2.2B
Change In Accounts Payable	-842M	2.52B	217M	-437M	-1.18B
Change in Other Net Operating Assets	-671M	1.26B	-3.06B	477M	-4.77B
Cash from Operations	39.94B	41.95B	35.23B	33.7B	59.18B
Capital Expenditure	-8.25B	-11.25B	-18.24B	-18.59B	-15.41B
Sale of Property, Plant, and Equipment	-598M	-466M	-716M	-820M	-762M
Cash Acquisitions	-1.21B	-22M	-25M	83M	-2.92B
Divestitures	-	-	-	-	1.81B
Sale (Purchase) of Intangible assets	-688M	-1.13B	-1.22B	-1.59B	-2.2B
Investment in Marketable and Equity Securities, Total	2.9B	4.06B	1.99B	1.62B	-215M
Net (Increase) Decrease in Loans Originated / Sold - Investing	522M	-3.58B	-1.5B	1.07B	-55M
Other Investing Activities, Total	-5.53B	5M	67M	-513M	2.14B
Cash from Investing	-12.85B	-12.4B	-19.64B	-18.74B	-17.61B
Short Term Debt Issued, Total	-	-	3.94B	10.92B	9B
Long-Term Debt Issued, Total	660M	550M	780M	580M	10B
Total Debt Issued	660M	550M	4.72B	11.5B	19B
Short Term Debt Repaid, Total	-2.02B	-345M	-	-	-19.8B
Long-Term Debt Repaid, Total	-640M	-552M	-552M	-624M	-652M
Total Debt Repaid	-2.66B	-897M	-552M	-624M	-20.45B
Repurchase of Common Stock	-10B	-12B	-9B	-10.01B	-11.5B
Common Dividends Paid	-13.63B	-15.47B	-20.08B	-22.97B	-22.68B
Common & Preferred Stock Dividends Paid	-13.63B	-15.47B	-20.08B	-22.97B	-22.68B
Other Financing Activities, Total	-1M	-50M	-112M	-2M	-12M
Cash from Financing	-25.63B	-27.87B	-25.03B	-22.1B	-35.65B
Foreign Exchange Rate Adjustments	284M	591M	1.32B	231M	-1.22B
Miscellaneous Cash Flow Adjustments	1M	-	3.12B	1M	15M
Net Change in Cash	1.74B	2.28B	-5.01B	-6.91B	4.72B
Supplemental Items
Cash Interest Paid	69M	73M	251M	525M	635M
Cash Income Tax Paid (Refund)	11.08B	13.17B	15.41B	15.89B	12.63B
Levered Free Cash Flow	26.15B	22.41B	6.63B	4.66B	31.03B
Unlevered Free Cash Flow	26.19B	22.46B	6.79B	4.98B	31.47B
Change In Net Working Capital	1.87B	7.23B	17.41B	18.77B	814M
Net Debt Issued / Repaid	-2B	-347M	4.17B	10.88B	-1.46B

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	10.32	11.68	11.3	9.68	10.86
Return on Total Capital	12.27	14.03	13.63	11.57	12.95
Return On Equity %	17.35	19.16	19.28	16.89	18.39
Return on Common Equity	17.49	19.16	19.37	17.06	18.68
Margin Analysis
Gross Profit Margin %	41.96	48.61	46.83	46.22	46.36
SG&A Margin	17.79	19.82	19.86	20.78	20.54
EBITDA Margin %	25.32	29.42	27.74	27.35	28.33
EBITA Margin %	20.38	24.55	22.97	21.31	22.63
EBIT Margin %	20.34	24.5	22.92	21.26	22.61
Income From Continuing Operations Margin %	16.02	18.82	18.16	16.85	17.09
Net Income Margin %	16	18.64	18.02	16.78	17.12
Net Avail. For Common Margin %	16	18.64	18.02	16.78	17.12
Normalized Net Income Margin	13.31	16.2	15.37	14.42	14.68
Levered Free Cash Flow Margin	12.5	10.78	2.91	2.05	12.34
Unlevered Free Cash Flow Margin	12.52	10.8	2.98	2.2	12.52
Asset Turnover
Asset Turnover	0.81	0.76	0.79	0.73	0.77
Fixed Assets Turnover	4.04	3.96	3.87	3.19	3.36
Receivables Turnover (Average Receivables)	2.86	2.7	2.81	2.65	2.83
Inventory Turnover (Average Inventory)	2.68	2.16	2.08	1.71	1.7
Short Term Liquidity
Current Ratio	2.67	2.66	2.63	2.33	2.66
Quick Ratio	1.82	1.78	1.59	1.32	1.5
Operating Cash Flow to Current Liabilities	0.67	0.64	0.49	0.39	0.75
Days Sales Outstanding (Average Receivables)	127.75	135	130.09	138.34	129.1
Days Outstanding Inventory (Average Inventory)	136.11	168.74	175.85	214.4	214.32
Average Days Payable Outstanding	48.76	57.38	53.19	54.55	53.77
Cash Conversion Cycle (Average Days)	215.1	246.36	252.75	298.19	289.65
Long Term Solvency
Total Debt/Equity	11.3	10.92	12.32	17.75	17.14
Total Debt / Total Capital	10.16	9.85	10.97	15.07	14.63
LT Debt/Equity	0.59	0.57	0.6	0.56	4.65
Long-Term Debt / Total Capital	0.53	0.51	0.54	0.47	3.97
Total Liabilities / Total Assets	24.46	25.63	25.84	28.61	28.6
EBIT / Interest Expense	616.39	698.08	207.48	91.64	80.16
EBITDA / Interest Expense	767.46	838.11	251.04	117.88	100.43
(EBITDA - Capex) / Interest Expense	647.84	683.96	178.68	82.53	78.7
Total Debt / EBITDA	0.43	0.37	0.43	0.66	0.57
Net Debt / EBITDA	-0.18	-0.2	-0.04	0.29	0.18
Total Debt / (EBITDA - Capex)	0.51	0.45	0.61	0.94	0.73
Net Debt / (EBITDA - Capex)	-0.22	-0.24	-0.05	0.42	0.23
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	1.1	-0.55	9.66	-0.6	10.88
Gross Profit, 1 Yr. Growth %	3.89	15.21	5.65	-1.9	11.23
EBITDA, 1 Yr. Growth %	7.65	15.54	3.4	-1.99	14.84
EBITA, 1 Yr. Growth %	10.17	19.84	2.59	-7.79	17.77
EBIT, 1 Yr. Growth %	10.05	19.82	2.6	-7.81	17.91
Earnings From Cont. Operations, 1 Yr. Growth %	8.53	16.83	5.83	-7.75	12.42
Net Income, 1 Yr. Growth %	8.74	15.85	5.96	-7.43	13.17
Normalized Net Income, 1 Yr. Growth %	10.52	21.03	4.03	-6.76	12.89
Diluted EPS Before Extra, 1 Yr. Growth %	10.3	17.33	7.17	-6.36	14.82
Accounts Receivable, 1 Yr. Growth %	1.96	8.16	3.36	7.41	0.35
Inventory, 1 Yr. Growth %	6.33	11.84	23.95	20.89	2.52
Net Property, Plant and Equip., 1 Yr. Growth %	0.5	2.58	21.58	19.67	-6.4
Total Assets, 1 Yr. Growth %	6.41	5.34	6.8	8.28	2.26
Tangible Book Value, 1 Yr. Growth %	5.76	3.98	6.57	4.76	1.43
Common Equity, 1 Yr. Growth %	8.11	3.56	6.07	4.14	2.56
Cash From Operations, 1 Yr. Growth %	12.35	5.03	-16.03	-4.33	75.6
Capital Expenditures, 1 Yr. Growth %	-7.3	36.33	62.05	1.95	-17.11
Levered Free Cash Flow, 1 Yr. Growth %	31.22	-14.29	-70.42	-29.77	566.58
Unlevered Free Cash Flow, 1 Yr. Growth %	30.93	-14.26	-69.78	-26.55	531.5
Dividend Per Share, 1 Yr. Growth %	15.56	17.31	34.43	0	6.1
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	1.03	0.27	4.43	4.41	4.98
Gross Profit, 2 Yr. CAGR %	1.61	9.4	10.33	1.81	4.46
EBITDA, 2 Yr. CAGR %	5.03	11.52	9.3	0.67	6.09
EBITA, 2 Yr. CAGR %	7.18	14.9	10.88	-2.74	4.21
EBIT, 2 Yr. CAGR %	7.08	14.83	10.87	-2.74	4.26
Earnings From Cont. Operations, 2 Yr. CAGR %	6.53	12.6	11.2	-1.19	1.84
Net Income, 2 Yr. CAGR %	6.75	12.24	10.8	-0.96	2.35
Normalized Net Income, 2 Yr. CAGR %	6.2	15.65	12.21	-1.51	2.6
Diluted EPS Before Extra, 2 Yr. CAGR %	8.27	13.76	12.13	0.17	3.69
Accounts Receivable, 2 Yr. CAGR %	3.37	5.02	5.73	5.37	3.82
Inventory, 2 Yr. CAGR %	5.39	9.05	17.74	22.41	11.32
Net Property, Plant and Equip., 2 Yr. CAGR %	-0.85	1.54	11.68	20.62	5.84
Total Assets, 2 Yr. CAGR %	3.68	5.87	6.07	7.54	5.23
Tangible Book Value, 2 Yr. CAGR %	2.18	4.86	5.27	5.66	3.08
Common Equity, 2 Yr. CAGR %	5	5.81	4.81	5.1	3.35
Cash From Operations, 2 Yr. CAGR %	11.6	8.63	-6.09	-10.37	29.61
Capital Expenditures, 2 Yr. CAGR %	-7.98	12.42	48.64	28.53	-8.07
Levered Free Cash Flow, 2 Yr. CAGR %	25.08	6.05	-49.65	-54.42	116.37
Unlevered Free Cash Flow, 2 Yr. CAGR %	24.92	5.95	-49.1	-52.89	115.37
Dividend Per Share, 2 Yr. CAGR %	12.62	16.43	25.58	15.94	3
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	2.64	0.5	3.31	2.73	6.52
Gross Profit, 3 Yr. CAGR %	3.18	5.95	8.14	6.09	4.86
EBITDA, 3 Yr. CAGR %	5.19	8.42	8.75	5.4	5.19
EBITA, 3 Yr. CAGR %	6.79	11.24	10.64	4.27	3.67
EBIT, 3 Yr. CAGR %	6.72	11.17	10.6	4.26	3.7
Earnings From Cont. Operations, 3 Yr. CAGR %	7.05	9.86	10.3	4.48	3.15
Net Income, 3 Yr. CAGR %	7.24	9.7	10.11	4.35	3.54
Normalized Net Income, 3 Yr. CAGR %	6.8	10.93	11.64	5.49	3.07
Diluted EPS Before Extra, 3 Yr. CAGR %	8.73	11.21	11.52	5.59	4.84
Accounts Receivable, 3 Yr. CAGR %	4.17	4.95	4.46	6.29	3.67
Inventory, 3 Yr. CAGR %	7.3	7.5	13.81	18.78	15.38
Net Property, Plant and Equip., 3 Yr. CAGR %	-1.64	0.28	7.82	14.28	10.85
Total Assets, 3 Yr. CAGR %	2.16	4.23	6.18	6.8	5.75
Tangible Book Value, 3 Yr. CAGR %	2.61	2.77	5.43	5.1	4.23
Common Equity, 3 Yr. CAGR %	4.43	4.52	5.9	4.59	4.25
Cash From Operations, 3 Yr. CAGR %	1.95	9.36	-0.3	-5.5	12.15
Capital Expenditures, 3 Yr. CAGR %	-15.68	4.91	26.99	31.08	11.05
Levered Free Cash Flow, 3 Yr. CAGR %	15.05	10.27	-30.71	-43.74	11.46
Unlevered Free Cash Flow, 3 Yr. CAGR %	14.94	10.19	-30.26	-42.48	11.91
Dividend Per Share, 3 Yr. CAGR %	15.21	14.16	22.14	16.4	12.56
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.4	2.9	3.35	2.04	3.98
Gross Profit, 5 Yr. CAGR %	4.4	6.33	5.98	4.28	6.65
EBITDA, 5 Yr. CAGR %	6.7	8.69	6.81	5.25	7.68
EBITA, 5 Yr. CAGR %	8.3	10.19	8.41	5.42	8.02
EBIT, 5 Yr. CAGR %	8.26	10.14	8.36	5.38	8.02
Earnings From Cont. Operations, 5 Yr. CAGR %	8.23	10.1	8.69	5.3	6.83
Net Income, 5 Yr. CAGR %	8.41	10.05	8.65	5.3	6.94
Normalized Net Income, 5 Yr. CAGR %	8.78	10.81	8.93	5.77	7.93
Diluted EPS Before Extra, 5 Yr. CAGR %	10.08	11.61	10.07	6.66	8.32
Accounts Receivable, 5 Yr. CAGR %	5.12	5.89	4.79	5.11	4.21
Inventory, 5 Yr. CAGR %	3.91	7.44	11.36	13.23	12.81
Net Property, Plant and Equip., 5 Yr. CAGR %	1.78	0.46	3.49	7.97	7.02
Total Assets, 5 Yr. CAGR %	3.08	3.83	3.7	5.54	5.8
Tangible Book Value, 5 Yr. CAGR %	3.86	3.88	3.66	3.92	4.48
Common Equity, 5 Yr. CAGR %	5.05	4.91	4.58	4.75	4.87
Cash From Operations, 5 Yr. CAGR %	5.9	5.24	-1.34	1	10.73
Capital Expenditures, 5 Yr. CAGR %	-1.87	-1.91	5.78	13.79	11.6
Levered Free Cash Flow, 5 Yr. CAGR %	10.92	6.39	-17.34	-22.56	9.26
Unlevered Free Cash Flow, 5 Yr. CAGR %	10.78	6.31	-17.02	-21.56	9.49
Dividend Per Share, 5 Yr. CAGR %	18.77	18.6	19.25	14.87	14.09