Revised forecast
Fiscal year ending March 2026 · Full yearPrevious forecast published 6 February 2026The bar length represents the relative magnitude of change, based on the item that changed the most in this document. The percentage change shown by the dotted line is calculated from the two reported figures because the company did not provide the rate.
Domestic sales volumes and the extent of the recovery in overseas pulp market conditions fell short of assumptions, resulting in lower-than-expected operating profit. Meanwhile, ordinary profit and net income are expected to exceed the previous forecast due to foreign exchange gains from the revaluation of foreign-currency-denominated receivables and payables, as well as gains on the sale of rental real estate and equity holdings.
| Item | Details |
|---|---|
| Net Sales | ¥1,850,000 million → ¥1,861,700 million（+0.6%） |
| Operating profit | ¥45,000 million → ¥34,600 million（-23.1%） |
| Ordinary income | ¥35,000 million → ¥40,500 million（+15.7%） |
| Profit attributable to owners of the parent | ¥50,000 million → ¥55,600 million（+11.2%） |
| Net income per share | 54.25 yen and sen → 61.1 yen and sen |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Period Covered | Full year |
| Publication date of previous forecast | 6 February 2026 |
| Previous-period results | Fiscal year ended March 2025 results: net sales of ¥1,849,264 million, operating profit of ¥67,686 million, ordinary profit of ¥68,568 million, profit attributable to owners of parent of ¥46,171 million, and earnings per share of ¥47.34 |
| Reason for the revision | Domestic sales volumes and the extent of the recovery in overseas pulp market conditions fell short of assumptions, resulting in lower-than-expected operating profit. Meanwhile, ordinary profit and net income are expected to exceed the previous forecast due to foreign exchange gains from the revaluation of foreign-currency-denominated receivables and payables, as well as gains on the sale of rental real estate and equity holdings. |
| Dividend forecast revision | No change. The annual dividend is expected to be ¥36 per share. |
| Consolidated / non-consolidated | Consolidated |
Items this document does not state (1)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.For the fiscal year ending March 2026, operating profit is expected to decline because domestic sales volumes and the recovery in overseas pulp market conditions are expected to fall short of assumptions. Meanwhile, ordinary profit and net income are expected to increase due to foreign exchange gains and gains on the sale of rental real estate and equity holdings. For the fiscal year ending March 2027, the forecast incorporates improved operating profit from acquisitions and the consolidation of subsidiaries, product price revisions, a recovery in pulp market conditions and structural reforms, as well as the risk of higher costs resulting from the situation in the Middle East and a decrease in extraordinary income.