Fluctuations in Product Market Conditions

「For specialty functional paper, we worked to expand sales of products expected to see increased demand, but sales declined year on year due to a decline in demand for information paper and an adjustment in demand for certain products for overseas markets from the second to the third quarter.」

「For specialty functional paper, the company worked to expand sales of products expected to see increased demand, but in addition to declining demand for information paper, demand for some products for overseas markets entered an adjustment phase from the second quarter, and net sales fell below the same period of the previous year.」

「For specialty printing paper, the Company worked to expand sales in overseas markets, but sales fell below the same period of the previous year because the impact of declining domestic demand was substantial. For specialty functional paper, domestic sales volume declined from the previous year due to the shift to electronic media and other factors, but sales exceeded the same period of the previous year as demand for some products for overseas markets increased.」

「For specialty printing paper, domestic demand continued to decline, but sales remained approximately level with the same period of the previous year owing to higher selling prices following price revisions and increased sales of fancy paper for overseas markets. For specialty functional paper, domestic and overseas demand remained weak but showed some signs of recovery, and efforts to develop markets for high-heat-resistant insulating paper and environmentally friendly products enabled sales to remain approximately level with the same period of the previous year.」

「For specialty printing paper, demand in Japan continued to decline, but sales remained approximately level with the same period of the previous year owing to the penetration of price revisions and increased sales of fancy paper for overseas markets. For specialty functional paper, domestic and overseas demand remained weak, and although the company worked to develop markets for high-heat-resistant insulating paper and environmentally friendly products, sales fell below the same period of the previous year.」

「For specialty printing paper, sales were supported by the penetration of price revisions and strong sales of fancy paper for overseas markets, but fell below the same period of the previous year because sales of fancy paper for the domestic market declined, mainly for publishing applications. For specialty functional paper, price revisions also took effect, and the company worked to develop the market for high-heat-resistant insulating paper, but sales fell below the same period of the previous year due to delays in the recovery of demand for some products for overseas markets, among other factors.」

「At the processing operation of the Second Manufacturing Department at the Mishima Plant in the Specialty Materials business, demand declined substantially due to the progress of digitization and the loss of competitive advantages relative to competing products. At the Gifu Plant in the same business, demand continued to decline, particularly for printing and information media applications. As a result, the recoverable amounts fell below the carrying amounts at both locations, and the carrying amounts were reduced to their recoverable amounts, with the decreases of ¥256 million recognized as impairment losses under extraordinary losses.」

「For specialty functional paper, selling prices continued to trend upward as price revisions progressed, but sales fell below the same period of the previous year due to lower demand for some overseas products resulting from digitization and customers' production adjustments.」

「For specialty functional paper, selling prices continued to trend upward following ongoing price revisions, and demand capture for the high-heat-resistant insulating paper launched in 2020 progressed steadily. However, sales fell below the same period of the previous year due to lower sales of information paper resulting from digitization and a sharp decline in demand for some products for overseas markets as customers adjusted production from the second quarter onward.」

「For specialty printing paper, demand recovery for premium printing paper for commercial printing lacked momentum and difficult conditions continued, while fancy paper was supported by firm demand for book and packaging applications. Higher selling prices following the price revision implemented in 2021 also contributed, enabling sales of specialty printing paper to remain at approximately the same level as the previous year.」

「Sales of specialty printing paper exceeded the same period of the previous year, when sales had fallen substantially due to the impact of COVID-19. Demand recovery for premium printing paper for commercial printing lacked momentum and difficult conditions continued, while fancy paper performed steadily, supported by firm demand for book and packaging applications.」

「Sales of specialty printing paper exceeded the same period of the previous year, when sales had fallen substantially due to the impact of COVID-19. Premium printing paper for commercial printing continued to face difficult conditions from the third quarter onward, while fancy paper showed signs of a recovery in demand for packaging applications.」

「Sales of specialty printing paper exceeded the same period of the previous year, when sales had fallen substantially due to the impact of COVID-19, but demand for commercial printing and packaging in particular remained difficult.」

「For specialty printing paper, demand for publishing has been recovering, but demand for commercial printing and packaging has remained difficult due to the impact of COVID-19.」

「For specialty printing paper, demand for commercial printing, publishing, and packaging has fallen sharply due to the spread of COVID-19. Although signs of a recovery in demand have emerged since the third quarter, difficult conditions have continued.」

「For specialty printing paper, demand for commercial printing, publishing, and packaging fell sharply from April onward due to the impact of COVID-19, while sales volume also declined substantially year on year as a result of inventory adjustments by distributors.」

「For specialty printing paper, the company launched several new products, but their effects have taken time to emerge, and both sales volume and value fell below the same period of the previous year.」

「For specialty printing paper, the company launched new products, but both sales volume and value fell below the same period of the previous year due to difficult market conditions.」

「For specialty printing paper, the company captured special demand for premium printing paper, but both sales volume and value fell below the same period of the previous year due to difficult market conditions.」

「In the domestic market for specialty printing paper, core products remained firm during the autumn demand season, but both sales volume and value fell below the same period of the previous year.」

「The Group's principal business is the manufacture, sale, and processing of paper and pulp. A substantial decline in demand for these core products or a fall in product market prices could affect the Group's operating results and financial position.」

「The sales of the Industrial Materials, Specialty Materials, and Consumer Products businesses accounted for 95.0% of consolidated net sales in the fiscal year ended March 2017.」

「The sales of the Industrial Materials, Specialty Materials, and Consumer Products businesses accounted for 98.1% of consolidated net sales in the fiscal year ended March 2016. Although the markets for these products do not all fluctuate simultaneously, changes in these product markets due to various factors could affect the Group's operating results and financial position.」