Komori
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Hokuetsu Corporation

3865Materials and ChemicalsMid cap
841JPY-5.0%
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Price history
¥841Latest+7.8%
Drag across the chart to measure the move between two points.Delayed 15 minutes · monthly closing basis
Business overview

Hokuetsu Corporation (securities code 3865) is a corporate group centered on its pulp and paper business and packaging and paper converting business. Under its long-term management vision based on Vision 2030, the company will launch Medium-Term Management Plan 2030 in April 2026 and promote a shift in its business portfolio, enhanced competitiveness, and sustainability-oriented management. For the fiscal year ending March 2026, consolidated net sales were ¥287,736 million, operating income was ¥7,539 million, ordinary income was ¥11,271 million, and net income attributable to owners of the parent was ¥7,299 million. The business segments are pulp and paper, packaging and paper converting, and Other. Net sales from the pulp and paper business were ¥261,384 million, those from packaging and paper converting were ¥17,437 million, and those from Other were ¥8,914 million, for total net sales of ¥287,736 million. Cash and cash equivalents at the end of the fiscal year stood at ¥26,421 million, and the company had 3,728 employees. The company's history and the status of its affiliated companies, as well as its major contracts, partnerships and other relevant facts, are set out below.

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Key numbersShowing 8 of 20
PER
83.92How many years of earnings it would take to buy the stock. The market average is generally considered to be around 15.
PBR
0.55How many times the company's net assets? Around 1x is generally considered a benchmark.
ROE
0.7%Earning power. A figure above 10% is generally considered good.
Dividend yield
0.0%The annual dividend as a percentage of the share price.
Market capitalization
¥137bnShare price × number of shares. The value of the entire company.
Equity ratio
60.1%The proportion of assets funded by money that does not have to be repaid.
Operating margin
0.9%The percentage of revenue remaining from the company’s core business.
Revenue growth (3 years)
-1.2%The average annual growth in sales over the past three years.
What to watch next
The extent to which the earnings improvement from the strategic business partnership with 大王製紙, covering production technology, raw material procurement and product logistics, becomes visible in results disclosures for 2026-2027
2026-2027 (disclosure of effects in earnings releases and annual results)Impact HighLikelihood Medium
Progress toward the export ratio target following the establishment of the Paper Export Sales Headquarters (27% in fiscal 2025 to 38% in fiscal 2030), particularly improvements in volumes and profitability for North America and India
From 2026 onward (progress to be monitored quarterly to annually)Impact MediumLikelihood Medium
Development of the CCS business plan in Higashi-Niigata, including clarification of the demonstration project, partners and schedule
2026-2028 (depending on the level of detail disclosed in the plan)Impact HighLikelihood Low
Whether planned equipment upgrades, including replacement of panels related to the recovery boiler at the Niigata Mill, are completed as scheduled and lead to stable operations and cost optimization
2027 (multiple projects scheduled for completion)Impact MediumLikelihood Medium
Expansion of mass production and sales contributions from high-performance paper materials such as CNF and nanocarbon, including electromagnetic noise suppression sheets, electromagnetic wave absorbers and the plastic-free substrate Panse
Timing not disclosed (to be assessed through product sales and adoption results from the next period onward)Impact MediumLikelihood Low
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Who owns itTop holders total 50.9%
Listed holders 50.9%Everyone else 49.1%
Daio Paper Corporation17.51%
The Master Trust Bank of Japan, Ltd. (Trust Account)7.60%
株式会社第四北越銀行5.22%
北越コーポレーション持株会4.51%
株式会社日本カストディ銀行 (Trust Account)3.80%
OASIS JAPAN STRATEGIC FUND LTD.3.52%
Sompo Japan Insurance Inc.2.82%
The Norinchukin Bank2.23%
2 other listed holders3.70%
Who owns it
HolderOwnership (%)
Daio Paper Corporation17.51
The Master Trust Bank of Japan, Ltd. (Trust Account)7.60
株式会社第四北越銀行5.22
北越コーポレーション持株会4.51
株式会社日本カストディ銀行 (Trust Account)3.80
OASIS JAPAN STRATEGIC FUND LTD.3.52
Sompo Japan Insurance Inc.2.82
The Norinchukin Bank2.23
2 other listed holders3.70
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