Mitsubishi Chemical's revenue of the chemicals segment FY 2018-2022

In the fiscal year 2022, the sales revenue of the chemicals segment of Mitsubishi Chemical Group Corporation amounted to about 1.43 trillion Japanese yen. The revenue of the chemical segment decreased to around 0.89 trillion yen in fiscal year 2020, likely due to the overall decrease in production in Japan during the beginning of the COVID-19 pandemic, but indicated an increase in more recent fiscal years.

Mitsubishi Chemical

The Japanese company is headquartered in Tokyo and was formed in October 2005 from the merger of Mitsubishi Chemical Corporation and Mitsubishi Pharma Corporation. Mitsubishi Chemical is the largest chemical company in Japan and remains among the top global players regarding revenue in 2023. The chemical segment is its largest segment regarding revenue, followed by performance products, industrial gases, and health care.

Chemical industry in Japan

Overall, the Japanese chemical industry remains the fourth largest worldwide, following China, the United States, and Germany. It is also one of the largest employers of the manufacturing industries in Japan, providing work for over 930 thousand people. While plastic materials are the most exported chemical product from Japan, medical products constitute the largest import value. Japan is expected to remain an important market for foreign pharmaceutical products due to the increasing demand for the aging population.