JCU CORPORATION
4975・Prime Market・Chemicals
Chemicals Business
JCU's core segment. Develops, manufactures, and sells surface treatment chemicals both domestically and internationally.
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥26,926 million | ¥24,154 million | ↑ |
| Segment profit | ¥12,716 million | ¥10,680 million | ↑ |
| Segment profit margin | 47.2% | 44.2% | ↑ |
| Depreciation and amortization | ¥977 million | ¥826 million | ↑ |
| Share of consolidated net sales | approx. 90.7% | approx. 85.2% | ↑ |
Business Details
Develops, manufactures, and sells surface treatment chemicals and related materials in domestic and overseas markets. Main products include plating chemicals for printed wiring boards, electronic components, semiconductors, automotive parts, and housing building materials. The business operates along two axes—the electronics field (China, Taiwan, South Korea) and the decorative field (Japan, China)—and has a global sales network spanning Asia, the Americas, and India. As the core segment accounting for approximately 91% of consolidated net sales, it is characterized by a high operating margin.
Recent Overview
The electronics field performed well in China, Taiwan, and South Korea, with Chemicals Business net sales up 11.5% year on year.
In FY2026 (ending March 2026), net sales of the Chemicals Business reached ¥26,926 million (up 11.5% year on year), with segment profit of ¥12,716 million (up 19.1% year on year), achieving substantial profit growth. In the electronics field, demand for printed circuit boards for smartphones and PCs was strong in China, demand for semiconductor package substrates for servers and smartphones increased significantly in Taiwan, and South Korea continued a gradual recovery as the semiconductor market bottomed out and inventory adjustments progressed. In the decorative field, China saw increased sales due to higher automobile production, while Japan remained flat due to the impact of changing design trends.
Key Products
Growth Drivers
- Continued active investment in server-related fields, including generative AI, expanding demand for semiconductor package substrates and printed circuit boards
- Expanding demand for semiconductor package substrates in Taiwan and South Korea (for AI, IoT, and high-performance electronic devices)
- Favorable trend in demand for printed circuit boards for high-performance electronic devices in China's electronics field, and increased automobile production due to diversification of export markets
- Establishment of a two-site R&D structure with the new Kumamoto facility and accelerated investment in the semiconductor advanced packaging field
- Active investment in growth fields and creation of new products through the use of MI (materials informatics) based on the medium-term management plan "JCU VISION 2035 -1st stage-"
Risks
- Impact on Chinese manufacturing industries from fluctuations in U.S. trade policy (tariffs, export controls) and the continued decline in exports to the U.S.
- Structural weakness in demand for automotive parts in the decorative field due to the spread of electric vehicles and changing design trends
- Risk of spillover effects on personal consumption and manufacturing from the prolonged real estate downturn in China
- Foreign exchange risk (decrease in yen-converted overseas sales due to yen appreciation)
- Surge in energy and raw material prices due to the emergence of geopolitical risk in the Middle East
Last updated: June 24, 2026