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Presentation materials for financial results3861Oji Holdings CorporationMaterials and Chemicals

FY2025 Earnings Presentation Materials

In FY2025, revenue increased, but operating profit declined due to deteriorating overseas pulp and paper market conditions, lower domestic sales volumes and rising costs. For FY2026, the company expects operating profit to increase on a recovery in pulp market conditions, the full-year impact of price increases and business portfolio restructuring, while forecasting a decline in net income due to lower extraordinary gains and other factors.

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Presentation materials for financial resultsFY2025 (with FY2026 earnings forecast also shown)13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales18,617 Hundreds of millions of yen
Operating profit346 Hundreds of millions of yen
Ordinary income405 Hundreds of millions of yen
Net income556 Hundreds of millions of yen
Operating profit marginnot disclosed (by segment: Consumer and Industrial Materials 2.1%, Functional Materials 4.6%, Resources and Environment Business 1.7%, Printing and Information Media 2.8%)
Full-year earnings forecast
Net Sales
19,400 Hundreds of millions of yen
Operating profit
600 Hundreds of millions of yen
Ordinary income
450 Hundreds of millions of yen
Profit attributable to owners of the parent
350 Hundreds of millions of yen
ROE
3.3 %
Depreciation and amortization
891 Hundreds of millions of yen
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Domestic operating companies' operating profit130 Hundreds of millions of yen
    FactorsSelling price variance
  • Domestic operating companies' operating profit-90 Hundreds of millions of yen
    FactorsVolume variance
  • Domestic operating companies' operating profit5 Hundreds of millions of yen
    FactorsRaw material and fuel price differential
  • Domestic operating companies' operating profit-75 Hundreds of millions of yen
    FactorsLogistics and labor costs
  • Overseas operating companies' operating profit-410 Hundreds of millions of yen
    FactorsSelling price variance
  • Overseas operating companies' operating profit10 Hundreds of millions of yen
    FactorsVolume variance
  • Overseas operating companies' operating profit35 Hundreds of millions of yen
    FactorsRaw material and fuel price differential
  • Overseas operating companies' operating profit25 Hundreds of millions of yen
    FactorsForeign exchange effects
  • Overseas operating companies' operating profit86 Hundreds of millions of yen
    FactorsEfficiency and other factors
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Exchange rate155 JPY/USD
  • Australian thermal coal price141 USD/t
  • Dubai crude oil price76 USD/bbl
  • ChipBased on current contracts, incorporating the impact of the situation in the Middle East
  • Recovered paperFlat at current price levels
New initiatives
  • Acquisition of shares in LTLファーマ and launch of a pharmaceutical business
  • Joint research with imec on biomass-based EUV resists
  • Expansion of pressboard production facilities at 王子エフテックス' Nakatsu Mill
  • Establishment of a converting paper facility for liquid paper containers in Vietnam
  • Planned start of operations at a biomass carbonization plant at the Tomakomai Mill
Key KPIsA metric the company considers important as a management benchmark.
  • ROE5 %
    Year on year against the same period last year+0.7%
  • Depreciation928 Hundreds of millions of yen
    Year on year against the same period last year+36.0%
  • Exchange rate (period average)150.7 JPY/USD
    Year on year against the same period last year-1.9%
  • Number of consolidated subsidiaries215 companies
    Year on year against the same period last year-2.0%
  • Strategic shareholdings727 Hundreds of millions of yen
  • Ratio to consolidated net assets6.39 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • ProductPaperboard
    Sales volume2,828
    Volume unitthousand tonnes
    Selling price85.78
    Price unitJPY/kg·m²
    Sales value2,426
    Amount unitHundreds of millions of yen
  • ProductCorrugated board
    Sales volume2,946
    Volume unitmillion m²
    Selling price79.32
    Price unitJPY/kg·m²
    Sales value2,337
    Amount unitHundreds of millions of yen
  • ProductThermal paper
    Sales volume3,733
    Volume unitmillion m²
    Selling price24.21
    Price unitJPY/m²
    Sales value904
    Amount unitHundreds of millions of yen
  • ProductMarketed pulp
    Sales volume2,378
    Volume unitthousand tonnes
    Selling price88.09
    Price unitYen/kg
    Sales value2,095
    Amount unitHundreds of millions of yen
  • ProductNewsprint and printing/information paper
    Sales volume1,438
    Volume unitthousand tonnes
    Selling price129.31
    Price unitYen/kg
    Sales value1,860
    Amount unitHundreds of millions of yen
Segment results
  • Consumer and Industrial Materials
    Net Sales9,433
    Operating profit197
    Year on year against the same period last year
    Net Sales 254 / Operating profit 14
  • Functional Materials
    Net Sales2,360
    Operating profit108
    Year on year against the same period last year
    Net Sales -4 / Operating profit -15
  • Resources and Environment Business
    Net Sales3,897
    Operating profit67
    Year on year against the same period last year
    Net Sales -26 / Operating profit -246
  • Printing and Information Media
    Net Sales2,721
    Operating profit75
    Year on year against the same period last year
    Net Sales -211 / Operating profit -58
  • Other
    Net Sales207
    Operating profit-101
    Year on year against the same period last year
    Net Sales 111 / Operating profit -26
Medium-term management plan targets
  • Operating profit1,200 Hundreds of millions of yen
    Target fiscal yearFY2027
  • Profit attributable to owners of the parent800 Hundreds of millions of yen
    Target fiscal yearFY2027
  • ROE8 %
    Target fiscal yearFY2027
Financial targets
  • ROE
    Target value8
    Actual value5
  • Net debt-to-equity ratio
    Target value1
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Impact of the situation in the Middle East-150 Hundreds of millions of yen
Market Size / Share
  • Global electricity demandAverage annual increase of 3.6% from 2026 to 2030
  • Semiconductor market in 2026Up 26.3% year on year
  • Aseptic market growth rate0.4%-8.4% by region (2022-2026 CAGR)
Annual Dividend
Annual dividend per share¥36 per share
BreakdownInterim and year-end breakdown: Not disclosed
Payout ratio
58.9 %
Acquisition of treasury shares
Amount executed477 Hundreds of millions of yen
Additional planned amount730 Hundreds of millions of yen
Additional planned amount unitHundreds of millions of yen
PeriodThrough the end of FY2027
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredFY2025 (with FY2026 earnings forecast also shown)
Net Sales18,617 Hundreds of millions of yen
Operating profit346 Hundreds of millions of yen
Ordinary income405 Hundreds of millions of yen
Net income556 Hundreds of millions of yen
Operating profit marginnot disclosed (by segment: Consumer and Industrial Materials 2.1%, Functional Materials 4.6%, Resources and Environment Business 1.7%, Printing and Information Media 2.8%)
Full-year earnings forecastNet Sales 19,400 Hundreds of millions of yen / Operating profit 600 Hundreds of millions of yen / Ordinary income 450 Hundreds of millions of yen / Profit attributable to owners of the parent 350 Hundreds of millions of yen / ROE 3.3 % / Depreciation and amortization 891 Hundreds of millions of yen
Segment resultsSegment Consumer and Industrial Materials / Net Sales 9,433 Hundreds of millions of yen / Operating profit 197 Hundreds of millions of yen / Year on year against the same period last year Net Sales 254 / Operating profit 14, Segment Functional Materials / Net Sales 2,360 Hundreds of millions of yen / Operating profit 108 Hundreds of millions of yen / Year on year against the same period last year Net Sales -4 / Operating profit -15, Segment Resources and Environment Business / Net Sales 3,897 Hundreds of millions of yen / Operating profit 67 Hundreds of millions of yen / Year on year against the same period last year Net Sales -26 / Operating profit -246, Segment Printing and Information Media / Net Sales 2,721 Hundreds of millions of yen / Operating profit 75 Hundreds of millions of yen / Year on year against the same period last year Net Sales -211 / Operating profit -58, Segment Other / Net Sales 207 Hundreds of millions of yen / Operating profit -101 Hundreds of millions of yen / Year on year against the same period last year Net Sales 111 / Operating profit -26
Breakdown of Factors Affecting the ChangeSubject Domestic operating companies' operating profit / Factors Selling price variance / Amount 130 Hundreds of millions of yen, Subject Domestic operating companies' operating profit / Factors Volume variance / Amount -90 Hundreds of millions of yen, Subject Domestic operating companies' operating profit / Factors Raw material and fuel price differential / Amount 5 Hundreds of millions of yen, Subject Domestic operating companies' operating profit / Factors Logistics and labor costs / Amount -75 Hundreds of millions of yen, Subject Overseas operating companies' operating profit / Factors Selling price variance / Amount -410 Hundreds of millions of yen, Subject Overseas operating companies' operating profit / Factors Volume variance / Amount 10 Hundreds of millions of yen, Subject Overseas operating companies' operating profit / Factors Raw material and fuel price differential / Amount 35 Hundreds of millions of yen, Subject Overseas operating companies' operating profit / Factors Foreign exchange effects / Amount 25 Hundreds of millions of yen, Subject Overseas operating companies' operating profit / Factors Efficiency and other factors / Amount 86 Hundreds of millions of yen
Key KPIsIndicator name ROE / Value 5 % / Year on year against the same period last year 0.7 %, Indicator name Depreciation / Value 928 Hundreds of millions of yen / Year on year against the same period last year 36 Hundreds of millions of yen, Indicator name Exchange rate (period average) / Value 150.7 JPY/USD / Year on year against the same period last year -1.9 JPY/USD, Indicator name Number of consolidated subsidiaries / Value 215 companies / Year on year against the same period last year -2 companies, Indicator name Strategic shareholdings / Value 727 Hundreds of millions of yen / Year on year against the same period last year Not disclosed, Indicator name Ratio to consolidated net assets / Value 6.39 % / Year on year against the same period last year Not disclosed
Unit price and quantity metricsProduct Paperboard / Sales volume 2,828 / Volume unit thousand tonnes / Selling price 85.78 / Price unit JPY/kg·m² / Sales value 2,426 / Amount unit Hundreds of millions of yen, Product Corrugated board / Sales volume 2,946 / Volume unit million m² / Selling price 79.32 / Price unit JPY/kg·m² / Sales value 2,337 / Amount unit Hundreds of millions of yen, Product Thermal paper / Sales volume 3,733 / Volume unit million m² / Selling price 24.21 / Price unit JPY/m² / Sales value 904 / Amount unit Hundreds of millions of yen, Product Marketed pulp / Sales volume 2,378 / Volume unit thousand tonnes / Selling price 88.09 / Price unit Yen/kg / Sales value 2,095 / Amount unit Hundreds of millions of yen, Product Newsprint and printing/information paper / Sales volume 1,438 / Volume unit thousand tonnes / Selling price 129.31 / Price unit Yen/kg / Sales value 1,860 / Amount unit Hundreds of millions of yen
Assumptions Underlying the Business OutlookItem Exchange rate / Value 155 JPY/USD, Item Australian thermal coal price / Value 141 USD/t, Item Dubai crude oil price / Value 76 USD/bbl, Item Chip / Value Based on current contracts, incorporating the impact of the situation in the Middle East, Item Recovered paper / Value Flat at current price levels
Risk amount incorporated into the outlookImpact of the situation in the Middle East -150 Hundreds of millions of yen
Medium-term management plan targetsItem Operating profit / Value 1,200 Hundreds of millions of yen / Target fiscal year FY2027, Item Profit attributable to owners of the parent / Value 800 Hundreds of millions of yen / Target fiscal year FY2027, Item ROE / Value 8 % / Target fiscal year FY2027
Financial targetsItem ROE / Target value 8 % / Actual value 5 %, Item Net debt-to-equity ratio / Target value 1 times or less / Actual value Not disclosed
Annual DividendAnnual dividend per share ¥36 per share / Breakdown Interim and year-end breakdown: Not disclosed
Payout ratioValue 58.9 % / Total payout ratio Not disclosed / DOE Not disclosed
Acquisition of treasury sharesAmount executed 477 Hundreds of millions of yen / Additional planned amount 730 Hundreds of millions of yen / Additional planned amount unit Hundreds of millions of yen / Period Through the end of FY2027 / Buyback limit Not disclosed
Market Size / ShareItem Global electricity demand / Value Average annual increase of 3.6% from 2026 to 2030, Item Semiconductor market in 2026 / Value Up 26.3% year on year, Item Aseptic market growth rate / Value 0.4%-8.4% by region (2022-2026 CAGR)
New initiativesAcquisition of shares in LTLファーマ and launch of a pharmaceutical business, Joint research with imec on biomass-based EUV resists, Expansion of pressboard production facilities at 王子エフテックス' Nakatsu Mill, Establishment of a converting paper facility for liquid paper containers in Vietnam, Planned start of operations at a biomass carbonization plant at the Tomakomai Mill
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesCapital expendituresOrders received and order backlogKey points of the Q&A

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.

The company attributed the decline in operating profit in FY2025 to deteriorating overseas pulp and paper market conditions, lower domestic sales volumes and rising costs including logistics and labor expenses. The increase in net income was attributed to higher foreign exchange gains from the revaluation of foreign-currency-denominated receivables and payables, as well as higher gains on the sale of rental properties and held shares. For the expected increase in operating profit in FY2026, the company cited a recovery in pulp market conditions, particularly LBKP, the full-year impact of price increases implemented in FY2025 and the restructuring of low-profitability businesses.

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FY2025 Earnings Presentation Materials | Oji Holdings Corporation (3861) timely disclosure | Komori