DIC Reports Consolidated 1H 2026 Financial Results

DIC Corporation reported its consolidated financial results for the six months ended June 30, 2026. In the six months ended June 30, 2026, DIC Corporation’s consolidated net sales rose 13.3%, to ¥593 billion ($3.72 billion). Operating income increased 92.2%, to ¥51.8 billion ($325.2 million).

“Key global economies continue to be impacted by logistics and supply chain disruptions arising from the escalating tensions in the Middle East, leading to soaring crude oil prices and energy costs, as well as to apprehension regarding supplies of naphtha-derived petrochemicals,” DIC reports. “Although the situation is gradually easing, an uncertain outlook lingers for both corporate entities and consumers.

“For certain printing inks and coating resins, customers, particularly in overseas markets, moved to boost inventories amid expectations of a prolonged Middle East crisis,” DIC continues. “Operating income climbed 92.2%, to ¥51.8 billion, a new first-half record.”

Segment Sales

Packaging & Graphic segment sales increased 14.3%, to ¥307.2 billion ($1.89 billion). Segment operating income rose 62.6%, to ¥21.7 billion ($136.2 million).

“In the area of packaging inks, used chiefly on packaging for food products, shipments in Japan were sluggish, as elevated consumer prices led to a decrease in consumption, but sales expanded thanks to efforts to adjust sales prices in response to rising raw materials prices,” DIC notes.

“Sales of these products also rose in the Americas and Europe, thanks to robust shipments in North America, as well as to sales price revisions,” the company adds. “In Asia and elsewhere, sales of packaging inks were boosted by a recovery in market conditions since the beginning of the year, as well as by an inventory buildup by customers in multiple countries in anticipation of a prolonged Middle East crisis, which pushed up shipments.

“Notwithstanding a downward trend in shipments in Japan, as well as in the Americas and Europe, owing to ongoing structural declines in publishing-related demand worldwide, overall sales of publication inks, which center on inks for commercial printing and news inks, were bolstered by efforts to revise sales prices to counter higher raw materials prices,” DIC reports. “In Asia and elsewhere, shipments of these products rose as customers stockpiled inventories in anticipation of a protracted Middle East conflict. Sales of jet inks, used in digital printing, advanced, as the impact of one-time customer inventory adjustments subsided and shipments remained firm. Sales of polystyrene, applications for which include food trays, were up, thanks to efforts to modify sales prices in response to raw materials price increases.

“Segment operating income rose 62.6%, to ¥21.7 billion,” DIC reports. “While customers around the world stockpiled inventories of a broad range of products, concerned over the situation in the Middle East, steps taken to expand sales of high-value-added products and implement prompt sales price revisions underpinned gains in all geographic operating regions.”

Color & Display segment sales rose 8.6%, to ¥142.5 billion ($894.5 million). The segment reported operating income of ¥12 billion ($73.8 million), an increase of 2.1 times.

“Shipments of pigments for coatings, which account for a significant share of sales, rose, particularly in Europe—the principal market for these products—for architectural and industrial applications,” DIC reports. “Segment operating income soared 2.1 times, to ¥12.0 billion, bolstered by the increase in sales, as well as by efforts to reduce costs, primarily through structural reforms.”

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