Shin-Etsu Polymer Co.,Ltd.

7970 信越ポリマー株式会社

Chemicals · Prime · TSE: Disclosed

PRICE: ¥2,271 · MKT CAP: ¥182.7B · P/E: 18.4x · P/B: 1.41x · DIV YIELD: 2.3%

PRICE — 5Y

Characteristics & Business Summary

Shin-Etsu Polymer Co.,Ltd. develops and supplies PVC and semiconductor silicone products worldwide. It offers touch switches and pads, rubber contacts, short strokes, metal domes, in-molds, pressure sensitive devices, view/light path control films, and...

Income Statement Highlights (¥ Million, except EPS/DPS in ¥)

Fiscal Period	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Net Sales	76,904	92,640	108,278	104,379	110,582	115,116	—
Operating Profit	7,217	9,732	12,749	11,050	13,271	14,040	—
Ordinary Profit	7,021	10,129	12,986	11,530	13,218	14,008	—
Net Profit	4,536	6,308	8,529	8,674	9,430	9,899	—
EPS	¥56	¥78	¥105	¥107	¥117	¥123	—
DPS	¥20	¥26	¥38	¥46	¥52	¥30	—

Balance Sheet & Valuation Highlights

Total Assets ¥153B

Net Assets (Equity) ¥130B

Equity Ratio 84.4%

ROE (Return on Equity) 8.6%

Cash & Equivalents ¥50B

Interest-Bearing Debt —

Capital Expenditure (CapEx) ¥4B

Depreciation & Amort. ¥6B

Major Shareholders

1. 信越化学工業株式会社 53.4%
2. The Master Trust Bank of Japan, Ltd. (Trust Account) 8.0%
3. Custody Bank of Japan, Ltd. (Trust Account) 2.5%
4. Citibank, N.A. 1.5%
5. Hikari Tsushin, Inc. 1.2%
6. BNY GCM CLIENT ACCOUNT JPRD AC ISG(FE-AC) （常任代理人株式会社三菱UFJ銀行） 1.0%
7. Nippon Life Insurance Company 0.9%
8. State Street Bank and Trust Company 0.9%
9. Morgan Stanley 0.9%
10. Northern Trust Company 0.9%

Activist Activity

No large shareholder activist campaigns detected.

Historical Per-Share Data & Valuation Ratios

Per Share Metric	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Revenues per share	¥951	¥1,150	¥1,338	¥1,293	¥1,375	¥1,431	—
FCF/Share	¥97	¥69	¥-16	¥-32	¥66	¥129	—
EPS	¥56	¥78	¥105	¥107	¥117	¥123	—
DPS	¥20	¥26	¥38	¥46	¥52	¥30	—
Capital Spending per share	¥34	¥52	¥129	¥180	¥133	¥51	—
Book Value per share	¥1,112	¥1,167	¥1,240	¥1,305	¥1,370	¥1,431	—
Common Shares Outstanding	81M	81M	81M	81M	80M	—	—

Financial Aggregates & Margins

Financial Aggregate	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Forecast
Revenues (Net Sales)	¥77B	¥93B	¥108B	¥104B	¥111B	¥115B	—
Operating Margin (%)	9.4%	10.5%	11.8%	10.6%	12.0%	12.2%	—
Net Profit (owners)	¥5B	¥6B	¥9B	¥9B	¥9B	¥10B	—
Net Profit Margin (%)	5.9%	6.8%	7.9%	8.3%	8.5%	8.6%	—
Working Capital	¥61B	¥63B	¥68B	¥65B	¥70B	¥79B	—
Total Debt (Interest-bearing)	¥0B	¥0B	¥0B	¥0B	¥0B	—	—
Net Worth (Common Equity)	¥90B	¥94B	¥100B	¥105B	¥110B	¥115B	—
Return on Total Assets (ROA)	4.2%	5.1%	6.3%	6.2%	6.2%	6.5%	—
Return on Common Equity (ROE)	5.0%	6.7%	8.5%	8.2%	8.6%	8.6%	—

Business Summary & Analysis

Capital Strategy Targets

No active capital policy disclosure records found.