Shin-Etsu Chemical
ConvictionContext
Vertically integrated commodity + specialty chemicals manufacturer: cost-leadership PVC/chlor-alkali (Shintech, US Gulf Coast) plus qualification-locked electronics materials (silicon wafers, photoresists, mask blanks) sold under long-term agreements to chipmakers; heavy, largely self-funded capex on a net-cash balance sheet
Revenue
JPY 2,573.97B~$17.1B at FY-average JPY150.8/USD) FY ended Mar 2026Rev growth
+0.5% YoYFY Mar-2026); +6.1% prior yearGross margin
not separately disclosedin the results summary (tanshinOp margin
24.7%FY Mar-2026), down from 29.0% (FY Mar-2025Capex intensity
high - PP&E + intangible additions JPY 339.7B = ~13% of salesFY Mar-2026), JPY 212.4B of it in Electronics Materials (wafer capacity); total investing cash outflow JPY 544.8B (~21% of sales) including securities purchasesMarket cap
~$79BJPY 12.87T at ~JPY162/USD; Tokyo Stock Exchange Prime 4063, also listed Nagoya; US OTC ADR SHECY; Jul 8 2026Members only
Full financial intelligence for Shin-Etsu Chemical
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
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