DIC Corporation
4631・Prime Market・Chemicals
Packaging & Graphics
DIC's largest segment. A revenue foundation deploying inks and packaging materials on a global scale.
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (Q1 FY2026, ending December 2026) | ¥145,223 million | ¥134,001 million | ↑ |
| Operating income (Q1 FY2026, ending December 2026) | ¥8,315 million | ¥6,651 million | ↑ |
| Operating margin (Q1 FY2026, ending December 2026) | 5.7% | 5.0% | ↑ |
| Net sales YoY change | +8.4% | — | ↑ |
| Operating income YoY change | +25.0% | — | ↑ |
| Net sales YoY change (local currency basis) | +2.4% | — | ↑ |
| Operating income YoY change (local currency basis) | +18.7% | — | ↑ |
Business Details
Manufactures and sells printing materials (gravure inks, offset inks, newspaper inks, jet inks, etc.) and packaging materials (Polystyrene, Packaging Adhesives & Multilayer Films, etc.). Its main applications are food packaging, commercial printing, and digital printing, with global operations spanning Japan, the Americas, Europe, and Asia. It is DIC's largest reporting segment, accounting for approximately 51% of consolidated net sales, and serves as the revenue foundation of the company's core business.
Recent Overview
Q1 2026 net sales of ¥145,223 million (+8.4% YoY) and operating income of ¥8,315 million (+25.0% YoY), with income growth achieved across all regions.
In Q1 2026 (January–March), net sales were ¥145,223 million (+8.4% YoY) and operating income was ¥8,315 million (+25.0% YoY). In Japan, Packaging Inks revenue declined due to a consumption slowdown driven by rising prices, while the Americas and Europe secured revenue growth through pricing measures. In Asia, customer inventory build-up in anticipation of Middle East tensions and sales expansion efforts in various countries proved effective. UV inks grew in each region, and market share was captured from competitors in Europe. As a result of expanding sales of high-value-added products and thoroughgoing pricing measures, income increased across all regions.
Key Products
Growth Drivers
- Growth of UV inks (trading cards, etc.) across regions and revenue growth in Publication Inks driven by market share gains from competitors in Europe
- Securing revenue growth in Packaging Inks in the Americas and Europe through thoroughgoing pricing measures
- Progress in customer development and sales expansion in Asia (centered on China) and capturing demand from customer inventory build-up in anticipation of Middle East tensions
- Steady shipment trends for Jet Inks driven by progress in digitalization
- Positive effect of a weaker yen boosting the yen-translated value of overseas sales
Risks
- Continued structural decline in demand and ongoing price competition for Publication Inks
- Decline in Packaging Inks shipments due to weak consumer goods demand amid rising prices in Japan and Asia
- Risk of sluggish shipment growth due to economic stagnation in the Americas and Europe
- Raw material procurement risk and rising energy costs associated with prolonged Middle East tensions
- Foreign exchange translation impact from weaker emerging market currencies (pressure on yen-denominated profit)
- Risk of a downturn once the effect of customer inventory build-up subsides
Last updated: March 23, 2026