Revised forecast
Fiscal year ending March 2027 · Second-quarter (interim-period) variance from actual results and full-year resultsPrevious forecast published 15 May 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.
For the interim period, results were generally in line with the plan despite factors reducing profit, such as higher costs in the overseas business, while higher profit in the Other business in the domestic segment, cost reductions and other factors contributed to results. Ordinary profit benefited from foreign exchange gains arising from the revaluation of foreign-currency-denominated receivables and payables, in addition to the increase in operating profit and other factors, while interim net income attributable to owners of the parent benefited from the sale of investment securities and fixed assets and other factors. For the full year, the company expects a slower recovery in pulp market conditions and higher costs in its overseas business, and higher raw material and fuel prices in its domestic business due to the prolonged situation in the Middle East, and therefore revised operating profit and ordinary profit downward. Net income attributable to owners of the parent is expected to remain unchanged from the previous forecast as the decline in profit is reduced by the sale of shares held and other factors.
| Item | Details |
|---|---|
| Net Sales | ¥1,940,000 million → ¥1,960,000 million（+1.0%） |
| Operating profit | ¥60,000 million → ¥45,000 million（-25.0%） |
| Ordinary income | ¥45,000 million → ¥30,000 million（-33.3%） |
| Profit attributable to owners of the parent | ¥35,000 million → ¥35,000 million |
| Net income per share | 38.47 yen and sen → 40.94 yen and sen |
| Fiscal Period Covered | Fiscal year ending March 2027 |
| Period Covered | Second-quarter (interim-period) variance from actual results and full-year results |
| Publication date of previous forecast | 15 May 2026 |
| Previous-period results | Full year (fiscal year ended March 2026): revenue ¥1,861,709 million; operating profit ¥34,582 million; ordinary profit ¥40,529 million; net income attributable to owners of the parent ¥55,582 million; earnings per share ¥61.10. Previous corresponding period (interim period of the fiscal year ending March 2026): revenue ¥914,984 million; operating profit ¥16,731 million; ordinary profit ¥8,787 million; interim net income attributable to owners of the parent ¥10,920 million; interim earnings per share ¥11.85. |
| Reason for the revision | For the interim period, results were generally in line with the plan despite factors reducing profit, such as higher costs in the overseas business, while higher profit in the Other business in the domestic segment, cost reductions and other factors contributed to results. Ordinary profit benefited from foreign exchange gains arising from the revaluation of foreign-currency-denominated receivables and payables, in addition to the increase in operating profit and other factors, while interim net income attributable to owners of the parent benefited from the sale of investment securities and fixed assets and other factors. For the full year, the company expects a slower recovery in pulp market conditions and higher costs in its overseas business, and higher raw material and fuel prices in its domestic business due to the prolonged situation in the Middle East, and therefore revised operating profit and ordinary profit downward. Net income attributable to owners of the parent is expected to remain unchanged from the previous forecast as the decline in profit is reduced by the sale of shares held and other factors. |
| Dividend forecast revision | No revision (the full-year 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 interim period, operating profit exceeded the forecast due to higher profit in the Other business in the domestic segment, cost reductions and other factors. Ordinary profit benefited from foreign exchange gains and other factors in addition to the increase in operating profit, while interim net income attributable to owners of the parent benefited from the sale of investment securities and fixed assets and other factors. For the full year, the company expects a slower recovery in pulp market conditions and higher costs in its overseas business, and higher raw material and fuel prices in its domestic business due to the prolonged situation in the Middle East, while reducing the decline in net income through the sale of shares held and other measures.