Nissan Chemical Corporation

Nissan Chemical Corp reported record first-quarter sales, operating profit, and ordinary profit, with sales rising 13% year-over-year to 89 billion yen, while raising its full-year dividend forecast to 162 yen per share. The Electronic Materials segment saw a 49% jump in sales, driven by strong demand for semiconductor materials including ARC and EUV materials, though the company noted higher fixed costs and a 29% downward revision in the segment's full-year operating profit forecast. In contrast, the Agricultural Chemicals segment experienced a significant downward revision of 1.6 billion yen in its full-year sales forecast, now expected to be 16 billion yen lower than initially planned, due to lower sales of fungicides and herbicides in overseas markets, particularly in Europe where unfavorable weather conditions reduced demand. The Display Materials segment saw a 4% decline in sales, while the pharmaceutical segment also reported lower sales and profits amid generic competition. The company is progressing on its medium-term plan targeting over 20% annual growth in the semiconductor materials business through 2030.