HARIMA CHEMICALS GROUP,INC.
4410・Prime Market・Chemicals
Resins & Chemical Products
Core domestic business centered on Pine Chemicals, supplying resins for coatings, inks, and rubber
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (full year) | ¥21,420 million | ¥21,088 million | ↑ |
| Operating profit (full year) | ¥1,489 million | ¥410 million | ↑ |
| Operating margin (full year) | 6.9% | 1.9% | ↑ |
| Depreciation (full year) | ¥699 million | ¥695 million | — |
Business Details
A predominantly domestic segment that manufactures and sells Resins for Coatings, Resins for Printing Inks, Emulsifiers for Synthetic Rubber, Resins for Adhesives, and Tall Oil Products (tall oil rosin and tall oil fatty acid). Major customers include manufacturers of architectural and marine coatings, commercial printing, SBR rubber for automotive tires, and adhesives for address labels and stickers. The segment is expanding its product portfolio through increased sales volume of Functional Coating Agents for displays and myrcene, a fragrance raw material.
Recent Overview
Domestic sales growth drove a major improvement, with operating profit up 262.6% year on year
In FY2026 (ending March 2026), net sales were ¥21,420 million (up ¥331 million, or +1.6%, year on year), and operating profit was ¥1,489 million (up ¥1,078 million, or +262.6%, year on year). Expanded sales of new Resins for Coatings products and increased sales volume of Functional Coating Agents / Myrcene contributed to the increase in both sales and profit. Meanwhile, Resins for Printing Inks saw a decrease in sales due to the contraction of the lithographic ink market, and Emulsifiers for Synthetic Rubber saw a decrease in sales due to lower synthetic rubber production. A significant improvement in profitability was achieved, primarily driven by increased domestic sales.
Key Products
Growth Drivers
- Increased domestic sales volume driven by expanded sales of new Resins for Coatings products
- Expanded sales volume of Functional Coating Agents (for displays) and myrcene, a fragrance raw material
- Improved profitability through review of low-margin product lines and optimization of the business portfolio
- Development of new applications in the Pine Chemicals field (rubber functionality enhancement, asphalt additives, etc.)
- Penetration of price increases for Emulsifiers for Synthetic Rubber
Risks
- Declining demand trend for Resins for Printing Inks due to structural contraction of the lithographic ink market
- Impact on emulsifier sales volume from fluctuations in synthetic rubber (SBR) production
- Risk of soaring raw material prices (Pine Chemicals raw materials such as tall oil)
- Sensitivity of demand for architectural exterior coatings to weather and price trends
- Impact on net sales from changes in the scope of consolidation of overseas subsidiaries
Last updated: June 25, 2026