DIC Corporation (4631) Stock Price

Market cap
¥359.3B
P/E ratio
10.8x
DIC manufactures specialty chemicals, inks, and advanced materials for packaging, electronics, and industrial applications through three main divisions serving global markets.

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Business Overview

DIC operates as a group comprising 152 consolidated subsidiaries and 18 affiliated companies, organized into three main business segments.

The first segment is "Packaging & Graphic." This segment includes two product divisions: Printing Materials and Packaging Materials. The Printing Materials division offers gravure inks, flexographic inks, offset inks, newspaper inks, inkjet inks, metallic inks, printing plates, and security inks. The Packaging Materials division handles polystyrene, adhesives for packaging, and multilayer films.

The second segment is "Color & Display." This segment comprises two product divisions: Color Materials and Display Materials. The Color Materials division provides pigments for coatings, plastics, inks, and specialty applications, color filter pigments, cosmetic pigments, and healthcare food products. The Display Materials division handles TFT liquid crystal and STN liquid crystal products.

The third segment is "Functional Products." This segment includes three product divisions: Performance Materials, Composite Materials, and Chemitronics. The Performance Materials division offers synthetic resins for inks and coatings, molding, adhesives, and textile processing applications, as well as sulfurized oils and metal soaps. The Composite Materials division handles PPS compounds, resin colorants, hollow fiber membranes, hollow fiber membrane modules, and laboratory and diagnostic reagent materials. The Chemitronics division provides epoxy resins, industrial tapes, UV-curable resins, surfactants for electronic materials, and photoresist polymers.

Management Policy

DIC has established "DIC Vision 2030," a growth strategy targeting 2030. Under this vision, the company has identified three areas of social contribution—"Green," "Digital," and "Quality of Life (QOL)"—and is working toward the realization of a sustainable society. In particular, the company is concentrating management resources on five priority business areas: sustainable energy, healthcare, smart living, color science, and sustainable packaging.

To transform its business portfolio, DIC is implementing concrete measures including strengthening human capital management, making strategic investments, expanding technology platforms, reinforcing its global management structure, and advancing IT and digital transformation. As part of its sustainability strategy, the company is expanding sustainable products, reducing CO2 emissions, and addressing the circular economy.

DIC has positioned the four-year period from fiscal 2022 onward as a foundation-building phase for "DIC Vision 2030," during which it is making aggressive development investments and business acquisitions. However, due to resource dispersion and changes in the external environment, the company has experienced delays in achieving its plans. Accordingly, it is revising its fiscal 2025 targets and aiming to achieve record profits from fiscal 2026 onward.

DIC is reallocating management resources and has positioned the "smart living area" as its highest priority. The company is strengthening its electronics business and pursuing growth in areas such as high-heat-resistant resins for power semiconductors, advanced semiconductor resist resins, low-dielectric resins for 5G/6G, and bonding materials for next-generation batteries. In other priority business areas, the company is pursuing rationalization of acquired businesses and synergy effects to accelerate profitability.

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