Shin-Etsu Chemical (4063)
Shin-Etsu Chemical (4063) is the world’s largest maker of silicon wafers, the single-crystal substrate every chip starts on, and a leading supplier of photoresist. In the year ended March 2026, its semiconductor-heavy Electronics Materials segment grew sales 9% to about 1.0 trillion yen, even as the broader chemicals group softened. It reports next on July 24, 2026.
| Ticker | 4063 |
|---|---|
| Exchange | TSE |
| Sector | Materials · Semiconductor Silicon & Specialty Chemicals |
| Country | Japan |
| Wikidata | Q904284 |
| Last updated | 2026-07-05 |
Next event: Next earnings · Q1 fiscal 2026 (ending June 2026) , confirmed · Company-confirmed on the Shin-Etsu IR calendar: first-quarter results for the fiscal year ending March 2027 are scheduled for July 24, 2026. Full-year guidance was withheld pending clearer visibility. (source)
Latest reported quarter: Fiscal year ended March 31, 2026 (reported 2026-04-28)
Shin-Etsu reported net sales of 2,573.9 billion yen, up 0.5%, for the year ended March 2026, with operating income of 635.2 billion yen, down 14.4%, and net income of 474.4 billion yen, down 11.2%, at diluted EPS of 252.49 yen. The semiconductor franchise held up: the Electronics Materials segment, which houses silicon wafers and photoresist, grew sales 9% to about 1.0 trillion yen and operating income 6%. The annual dividend was 106 yen per share.
| Net sales (FY2025) | ¥2,573.9B +0.5% YoY · Fiscal year ended March 2026 |
|---|---|
| Operating income | ¥635.2B -14.4% YoY · Net income ¥474.4B (-11.2%) |
| Electronics Materials sales | ¥1,015.8B +9% YoY · Silicon wafers + photoresist; op. income +6% |
| Diluted EPS | ¥252.49 · Annual dividend ¥106 per share |
Revenue by segment
| Electronics Materials | ¥1,015.8B · 39.5% of revenue +9% YoY |
|---|---|
| Infrastructure Materials | ¥981.4B · 38.1% of revenue -6% YoY |
| Functional Materials | ¥440.8B · 17.1% of revenue -2% YoY |
| Processing & Specialized Services | ¥136.0B · 5.3% of revenue |
Recent & upcoming events
- · Fiscal 2025 results; semiconductor materials strong. Net sales of 2,573.9 billion yen (up 0.5%) with operating income down 14.4% as PVC and caustic soda weakened; the Electronics Materials segment grew sales 9% on AI-driven silicon-wafer and photoresist demand. Full-year fiscal 2026 guidance was withheld. (source)
Fiscal year 2025 figures (year ended March 31, 2026) are from Shin-Etsu's consolidated results dated April 28, 2026. Silicon wafers and photoresist sit in the Electronics Materials segment. Shares use reported sales.
Figures are as of 2026-07-05 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Shin-Etsu do?
Shin-Etsu is a broad materials company, and its relevance to chips runs through one segment. Electronics Materials houses its semiconductor franchise: silicon wafers, where it is the world’s largest supplier, plus photoresist and photomask blanks, the light-sensitive materials that lithography uses to pattern the wafer. That segment was about 1.0 trillion yen of fiscal 2025 sales, roughly 40% of the group, and it grew 9% while the company’s Infrastructure Materials business, PVC and caustic soda, fell (Shin-Etsu FY2025 results, Apr 28, 2026). The remaining segments, Functional Materials (silicones) and Processing & Specialized Services, round out a conglomerate whose semiconductor cash flows are the reason it sits in this concept.
How is AI driving Shin-Etsu’s business?
Because more chips means more wafers. Every AI accelerator, HBM stack, and leading-edge logic die starts as a polished single-crystal wafer, and Shin-Etsu makes more of them than anyone. Even in a soft year for commodity chemicals, that pull held the Electronics Materials segment up 9% in sales and 6% in operating income (Shin-Etsu FY2025 results, Apr 28, 2026). Management framed the split cleanly:
“In the semiconductor market, the demand related to AI continued to be strong, while the demands in other sectors have finally started to rise.”
— Shin-Etsu Chemical, fiscal 2025 results (Shin-Etsu, Apr 28, 2026)
What did Shin-Etsu report most recently?
For the fiscal year ended March 31, 2026, net sales were 2,573.9 billion yen, up 0.5%, with operating income of 635.2 billion yen, down 14.4%, and net income of 474.4 billion yen, down 11.2%, at diluted EPS of 252.49 yen (Shin-Etsu FY2025 results, Apr 28, 2026). The decline came from Infrastructure Materials, where operating income fell sharply; the semiconductor-heavy Electronics Materials segment grew sales 9% to about 1.0 trillion yen. The annual dividend was 106 yen per share. Because silicon wafers are no longer reported as a standalone line, the segment is the cleanest public read on the wafer business.
What is Shin-Etsu’s guidance?
Shin-Etsu withheld full-year guidance for the fiscal year ending March 2027, saying it will publish a forecast once disclosure becomes possible, citing macroeconomic uncertainty (Shin-Etsu FY2025 results, Apr 28, 2026). The next checkpoint is first-quarter results on July 24, 2026.
What are the risks for Shin-Etsu?
- Wafer and materials cyclicality. Operating income fell 14.4% even with flat sales, showing how sensitive margins are to the memory and commodity-chemical cycles; management flagged that oversupply could persist for a while.
- Conglomerate dilution. The semiconductor story is strong but partly masked by weak PVC and caustic soda, and silicon wafers are no longer separately disclosed, so the pure-play read is indirect.
- FX and macro. Shin-Etsu is heavily export- and dollar-exposed, and yen strength or a macro shock, which it cited when withholding guidance, would move reported earnings.
Related securities, concepts & terms
Shin-Etsu is the wafer layer of the silicon supply chain concept, forming a near-duopoly in leading-edge 300mm wafers with SUMCO, with GlobalWafers rounding out the wafer oligopoly.
- Silicon Supply Chain parent
- SUMCO (3436) sibling
- GlobalWafers (6488) sibling
- Silicon Wafer related
Frequently asked questions about Shin-Etsu
What does Shin-Etsu Chemical do?
Shin-Etsu is a broad chemicals company, but in the silicon supply chain it matters as the world's largest maker of silicon wafers, plus a leading supplier of photoresist and photomask blanks. Those products sit in its Electronics Materials segment, whose sales rose 9% to about 1.0 trillion yen in the year ended March 2026 (Shin-Etsu FY2025 results, Apr 28, 2026). Its other segments make PVC and caustic soda, silicones, and specialty materials.
What were Shin-Etsu's latest results?
For the fiscal year ended March 31, 2026, net sales were 2,573.9 billion yen, up 0.5%, with operating income of 635.2 billion yen, down 14.4%, and net income of 474.4 billion yen, down 11.2% (Shin-Etsu FY2025 results, Apr 28, 2026). The semiconductor-heavy Electronics Materials segment bucked the trend, growing sales 9% and operating income 6% on AI demand. The annual dividend was 106 yen per share.
What is Shin-Etsu's guidance?
Shin-Etsu withheld full-year guidance for the fiscal year ending March 2027, saying it will announce a forecast once disclosure becomes possible, citing macro uncertainty (Shin-Etsu FY2025 results, Apr 28, 2026). Its next report, first-quarter results, is scheduled for July 24, 2026.
When does Shin-Etsu report its next earnings?
July 24, 2026, a date on Shin-Etsu's investor-relations calendar for first-quarter results of the fiscal year ending March 2027 (Shin-Etsu IR calendar). It last reported full-year fiscal 2025 results on April 28, 2026.
Why is Shin-Etsu part of the silicon supply chain concept?
Because it makes the substrate every chip starts on. Silicon wafers are the raw single crystals that fabs pattern into chips, and Shin-Etsu is the world's largest supplier, with photoresist and photomask blanks alongside. Management said AI-related semiconductor demand stayed strong while other sectors began to recover, which is what lifted Electronics Materials 9% (Shin-Etsu FY2025 results, Apr 28, 2026).
Sources & references
- Consolidated Financial Results for the Fiscal Year Ended March 31, 2026 · Shin-Etsu Chemical Co., Ltd., 2026-04-28
- Shin-Etsu Chemical · IR calendar · Shin-Etsu Chemical Co., Ltd., 2026-07-05