Daicel revises forecast lower, announces share buyback plan

Daicel Corporation announced a revision to its consolidated financial forecast for the fiscal year ending March 31, 2026. The company now anticipates lower sales and profits, with net sales projected at JPY 583.0 bn (down 2.8% from previous forecast), operating profit at JPY 46.5 bn (down 13.9%), and profit attributable to owners of parent at JPY 50.0 bn (down 7.4%). This adjustment is primarily attributed to decreased sales of acetate tow due to customer inventory adjustments, reduced POM sales in the engineering plastics business, and temporary troubles at the carbon monoxide plant in the materials business.

In a separate announcement, Daicel’s board of directors resolved to acquire up to 11 million shares of its common stock, representing 4.14% of outstanding shares (excluding treasury shares), for a total acquisition amount not exceeding JPY 15 bn. The acquisition period is set from November 10, 2025, to March 31, 2026. This strategic move aims to enhance shareholder returns and improve capital efficiency as part of the company’s mid-term management strategy.

The revised forecast incorporates an assumed exchange rate of JPY 146/US$, Asian spot methanol price of US$330/ton, Dubai crude oil price of US$70/bbl, and domestic naphtha price of JPY 63,000/kl for the third quarter onwards. Despite the downward revision in earnings, the company maintains its annual dividend forecast of JPY 60 per share, demonstrating a commitment to stable shareholder returns.