Stella Chemifa Corporation (TSE: 4109) filed its consolidated kessan tanshin for the fiscal year ended March 31, 2026 (FY3/2026), prepared under Japanese GAAP. The Osaka-based specialty-chemicals maker is best known as the dominant global producer of ultra-high-purity hydrofluoric acid (HF), an indispensable etching and cleaning chemical used throughout semiconductor and flat-panel-display fabrication. Its products sit at one of the most quality-critical points in the chip-manufacturing process, where even trace impurities can ruin advanced-node wafers.
Earnings grow on higher volumes and improved margins
Consolidated revenue rose 1.4% to ¥36,799 million, driven by higher shipment volumes in the semiconductor and electronic-materials departments alongside increased freight handled in the transport business. Profitability improved across the board: operating profit advanced 7.1% to ¥4,644 million, ordinary profit gained 6.3% to ¥4,424 million, and net profit attributable to owners of the parent climbed 5.7% to ¥3,058 million, helped by both the revenue increase and better margins.
Semiconductor department leads on AI-related demand
Within the High-purity Chemicals business — the group's largest — the flagship semiconductor department posted revenue of ¥22,204 million, up 5.8% as shipment volumes rose against a backdrop of active AI-related demand. Combined with higher electronic-materials volumes, the High-purity Chemicals segment as a whole generated revenue of ¥31,786 million (+0.8%) and operating profit of ¥3,592 million (+1.3%), the latter supported by price pass-throughs implemented to offset higher raw-material costs.
Transport and other businesses
The Transport business, which leverages the group's specialised cargo-handling know-how, lifted revenue 5.5% to ¥4,892 million as freight volumes exceeded the prior year, while operating profit surged 31.6% to ¥1,045 million on the higher volumes and improved profitability. The Other segment, mainly insurance-agency income, contributed revenue of ¥120 million (+3.5%) and operating profit of ¥28 million (+54.7%).
Balance sheet and shareholder returns
Total assets stood at ¥64,149 million at year-end, up ¥3,423 million, as fixed assets grew on increased property, plant and equipment and investment securities. Net assets rose ¥3,068 million to ¥48,061 million, lifting the equity ratio to 74.6% from 73.7% a year earlier. Marking its 110th anniversary, the company set an annual dividend of ¥180 per share, comprising an ¥85 interim payment and a ¥95 year-end dividend that includes a ¥10 commemorative element. Under its fourth medium-term plan (FY3/2026–FY3/2028), Stella Chemifa targets a cumulative total-return ratio of 100% or more, with a ¥170 per-share annual dividend floor.
Outlook for FY3/2027
For the year ending March 2027, Stella Chemifa guides to consolidated revenue of ¥39,100 million (+6.3%), operating profit of ¥4,800 million (+3.3%), ordinary profit of ¥4,900 million (+10.7%) and net profit attributable to owners of ¥3,400 million (+11.2%), supported by expected sales growth in the semiconductor department — chiefly overseas — and continued price pass-throughs even as anhydrous hydrofluoric acid prices are seen rising on a weaker yen. The company also flagged that tensions in the Middle East could tighten supply and raise prices of sulphuric acid, a feedstock for anhydrous HF; the potential impact is not reflected in the forecast and could weigh on results if the situation is prolonged.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Revenue | ¥36,799M | ¥36,290M | +1.4% |
| Operating profit | ¥4,644M | ¥4,336M | +7.1% |
| Ordinary profit | ¥4,424M | ¥4,162M | +6.3% |
| Net profit (owners of parent) | ¥3,058M | ¥2,893M | +5.7% |
| High-purity Chemicals revenue | ¥31,786M | ¥31,533M | +0.8% |
| — Semiconductor department | ¥22,204M | ¥20,987M | +5.8% |
| Transport revenue | ¥4,892M | ¥4,637M | +5.5% |
| Total assets | ¥64,149M | ¥60,726M | +5.6% |
| Net assets | ¥48,061M | ¥44,993M | +6.8% |
| Equity ratio | 74.6% | 73.7% | +0.9pt |
| Annual dividend per share | ¥180.00 | — | — |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.