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Management planning3863Nippon Paper Industries Co.,Ltd.Materials and Chemicals

Announcement of the Outline of the Medium-Term Management Plan 2030

The company formulated the outline of its new five-year plan, the Medium-Term Management Plan 2030, covering FY2026 to FY2030, and the Board of Directors approved it. The plan sets targets of operating profit of at least ¥60 billion, ROIC of at least 4%, ROE of at least 8%, and a net debt-to-equity ratio of no more than 1.0x for FY2030.

Worth reading
66In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
600
Hundreds of millions of yen
Wording
Conditional
How definitive the wording is.

Items stated in the management plan

Formulated
Medium-Term Management Plan 2030Plan period Five years from fiscal 2026 through fiscal 2030
Date of board resolution 15 May 2026 · Publication date 15 May 2026
Operating profit+0.2%
基準 2,025Target2,030Hundreds of millions of yen
ROE+5.0pt
基準 2,025Target2,030％

Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.

Net Sales¥1,192.6 billion (FY2025 actual) → Not disclosed
ROICNot disclosed → At least 4% (FY2030 target)
Only the target level is shown because the current level for comparison was not provided.
What happened to the previous planNet Sales At least ¥1,200 billion / Operating profit ¥40 billion at an early stage / EBITDA At least ¥100 billion on a sustained basis / Net debt-to-equity ratio In the 1.7x range / Net interest-bearing debt ¥710 billion / ROE At least 5.0% → Net Sales ¥1,192.6 billion / Operating profit ¥25.2 billion / EBITDA ¥92 billion / Net debt-to-equity ratio 1.74x / Net interest-bearing debt ¥675.2 billion / ROE 2.4％
Total investment planTotal investments and financing of approximately ¥350 billion (2026–2030)
Investment amount by sectorField GHG reduction / Amount Approximately ¥45 billion, Field Forestry-related / Amount Approximately ¥20.0 billion
Statements about the use of capital
Payout ratio / DOE policyNo numerical targets were disclosed for the payout ratio or DOE. The plan states that shareholder returns will be strengthened in line with earnings power. Cash outflows for shareholder returns of approximately ¥10 billion or more are planned for 2026–2030.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalWACC of 2.1% (FY2025)The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Key initiatives
01Streamlining assets
02Reduction of Interest-Bearing Debt
03Consolidating graphic paper production sites
04Fundamental Reform of Unprofitable Businesses
05Expanding forestry- and timber-related businesses
06Advancing a downstream strategy for the packaging business
07Strengthening the earnings power of lifestyle-related businesses
08Expanding new biomass materials businesses
Plan assumptionsThe plan states that its projected figures and initiatives are based on various assumptions, but specific assumptions regarding foreign exchange rates, market growth rates, raw material prices and other factors were not disclosed.
Non-financial targetsIndicator Reduce GHG emissions / Target value 54% reduction / Timing FY2030
Reason for revision or withdrawal

Based on the results and challenges of the Medium-Term Management Plan 2025, the company aims to enhance corporate value and help build a sustainable society.

Items stated in the management plan
ItemDetails
Plan nameMedium-Term Management Plan 2030
Plan periodFive years from fiscal 2026 through fiscal 2030
Progress against the planFormulated
Sales Target¥1,192.6 billion (FY2025 actual) → Not disclosed
Operating profit target¥25.2 billion (FY2025 actual) → At least ¥60 billion (FY2030 target)
ROE target2.4% (FY2025 actual) → At least 8% (FY2030 target)
ROIC targetNot disclosed → At least 4% (FY2030 target)
Payout ratio / DOE policyNo numerical targets were disclosed for the payout ratio or DOE. The plan states that shareholder returns will be strengthened in line with earnings power. Cash outflows for shareholder returns of approximately ¥10 billion or more are planned for 2026–2030.
Cost of capitalWACC of 2.1% (FY2025)
Total investment planTotal investments and financing of approximately ¥350 billion (2026–2030)
Investment amount by sectorField GHG reduction / Amount Approximately ¥45 billion, Field Forestry-related / Amount Approximately ¥20.0 billion
Non-financial targetsIndicator Reduce GHG emissions / Target value 54% reduction / Timing FY2030
Plan assumptionsThe plan states that its projected figures and initiatives are based on various assumptions, but specific assumptions regarding foreign exchange rates, market growth rates, raw material prices and other factors were not disclosed.
Key initiativesStreamlining assets, Reduction of Interest-Bearing Debt, Consolidating graphic paper production sites, Fundamental Reform of Unprofitable Businesses, Expanding forestry- and timber-related businesses, Advancing a downstream strategy for the packaging business, Strengthening the earnings power of lifestyle-related businesses, Expanding new biomass materials businesses
Results under the previous planNet Sales At least ¥1,200 billion / Operating profit ¥40 billion at an early stage / EBITDA At least ¥100 billion on a sustained basis / Net debt-to-equity ratio In the 1.7x range / Net interest-bearing debt ¥710 billion / ROE At least 5.0% → Net Sales ¥1,192.6 billion / Operating profit ¥25.2 billion / EBITDA ¥92 billion / Net debt-to-equity ratio 1.74x / Net interest-bearing debt ¥675.2 billion / ROE 2.4％
Reason for revision or withdrawalBased on the results and challenges of the Medium-Term Management Plan 2025, the company aims to enhance corporate value and help build a sustainable society.
Date of board resolution15 May 2026
Publication date15 May 2026
Items this document does not state (7)
Operating profit margin targetNet income targetTreasury share acquisition policySelf-assessment of PBR and share priceSegment targetSize of the Target MarketRisks identified

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.

Based on the results and challenges of the Medium-Term Management Plan 2025, the company aims to enhance corporate value and help build a sustainable society. Under the previous plan, strengthening earnings power and improving capital efficiency continued to be identified as challenges.

How to read this page

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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Announcement of the Outline of the Medium-Term Management Plan 2030 | Nippon Paper Industries Co.,Ltd. (3863) timely disclosure | Komori