Dexerials Corporation
4980・Prime Market・Chemicals
Optical Materials & Components
A segment supplying high-functionality materials for displays and automotive applications through optical films and optical resin materials
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (including intersegment transactions) | ¥47,971 million | ¥50,647 million | ↓ |
| Revenue from external customers | ¥47,162 million | ¥50,039 million | ↓ |
| Business profit | ¥14,308 million | ¥14,556 million | ↓ |
| Business profit margin | 29.8% | 28.7% | ↑ |
| Depreciation and amortization | ¥3,564 million | ¥3,431 million | ↑ |
Business Details
Composed of the optical film category, including Anti-Reflection Film (ARF) and Precision Bonding Resin, and the optical resin material category, including Optical Elastic Resin (SVR) and UV-Curable Resin for Optical Discs. All products are customized and sold to liquid crystal panel manufacturers and set manufacturers for smartphones, notebook PCs, tablets, and automotive displays. Anti-Reflection Film manufactured by the sputtering method holds a strong competitive advantage due to its low-reflection characteristics and scratch resistance. Note that sales of Phosphor Film were discontinued at the end of the first half of the prior fiscal year.
Recent Overview
Revenue declined 5.3% due to the direct impact of the discontinuation of Phosphor Film sales, but the profit margin improved on solid Precision Bonding Resin performance
In the Optical Materials & Components segment for FY2026 (ending March 2026), revenue was ¥47,971 million (down 5.3% year on year), reflecting the structural impact of the discontinuation of Phosphor Film sales at the end of the first half of the prior fiscal year. ARF for notebook PCs performed well in the first half but declined slightly in the second half as demand settled, while ARF for automotive applications increased slightly due to an increase in the number of adopted models and expansion of display area, resulting in overall flat sales. Precision Bonding Resin performed solidly due to an increase in sales volume of adopted models for high-end smartphones. Business profit came to only ¥14,308 million (down 1.7% year on year), while the business profit margin improved to 29.8% from 28.7% in the prior fiscal year.
Key Products
Growth Drivers
- Increase in the number of adopted models and expansion of display area for Anti-Reflection Film (ARF) accompanying the enlargement and enhanced functionality of automotive displays
- Revenue increase effect from higher sales volume of adopted models for Precision Bonding Resin used in high-end smartphones
- Replacement demand for end products in ARF for notebook PCs (performed well through the first half)
- Improvement in the ratio of high-value-added products through portfolio restructuring following the discontinuation of Phosphor Film sales
Risks
- Structural decline in revenue due to the discontinuation of Phosphor Film sales (zero contribution to revenue from the current fiscal year onward)
- Slowdown in second-half demand for notebook PC-oriented ARF and risk of declining sales volume for certain adopted models
- Risk of fluctuation in sales volume of adopted models for high-end smartphones in Precision Bonding Resin
- Foreign exchange impact on revenue and profit from yen appreciation
- Risk of revenue concentration with key customers (Nitto Denko Corporation and its subsidiaries)
- Risk of quarterly performance fluctuation due to changes in delivery timing at customers' discretion
Last updated: June 22, 2026