Komori
Financial results presentation3877Chuetsu Pulp & Paper Co.,Ltd.Materials and Chemicals

Financial Results Briefing Materials for the Second Quarter (Interim Period) of Fiscal 2026

During the interim period of fiscal 2026, net sales increased due to price revisions and a recovery in overseas pulp market conditions, while operating profit, ordinary profit and net income all declined because of higher raw material and fuel prices, logistics costs and other factors, as well as lower export volumes.

Worth reading
56In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Mixed performance
Direction inferred from the company’s description.
Scale
425
million yen (decrease in operating profit)
Wording
—
How definitive the wording is.

Contents of this document

Financial results presentationFY2026 Second Quarter (First Half)10 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales55,083 Millions of yen+3.8%
Operating profit930 Millions of yen-31.4%
Ordinary income1,140 Millions of yen-26.6%
Net income709 Millions of yen-27.8%
Full-year earnings forecast
Net Sales
116,000 Millions of yen
Operating profit
2,300 Millions of yen
Ordinary income
2,700 Millions of yen
Profit attributable to owners of the parent
2,300 Millions of yen
Annual dividend
¥120 per share
ROE
3.7 %
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Selling Prices¥23 100 million
  • Raw material and fuel prices¥-27 100 million
  • Raw timber, chemicals, fuel and other items¥-27 100 million
  • SG&A expenses¥-2 100 million
  • Fixed Costs¥-1 100 million
  • Electricity Sales¥-1 100 million
  • Costs¥-1 100 million
  • Volume variance¥0 100 million
  • Receipt/payment differential and other items¥4 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Exchange rate¥159.9 /US$
  • Dubai crude oil101 US$/bbl
  • Sales Volumes
    DetailsPaper sales down 3.9 thousand tonnes, pulp sales down 0.2 thousand tonnes
  • Production volume
    DetailsPaper production up 19.1 thousand tonnes, pulp production down 2.5 thousand tonnes
New initiatives
  • No. 3 lime kiln third support tire replacement work at the Takaoka Mill
  • Replacement of the suction filter cylinder on the pulp machine at the Sendai Mill
Key KPIsA metric the company considers important as a management benchmark.
  • Return on equity (ROE)1.2 %
    Year on year against the same period last year-0.5%
  • Depreciation and amortization3,018 Millions of yen
    Year on year against the same period last year-66.0%
  • Exchange rate¥159.88 /US$
    Year on year against the same period last year+13.1%
  • Dubai crude oil102 US$/bbl
    Year on year against the same period last year+30.0%
  • Number of consolidated subsidiaries7 companies
    Year on year against the same period last year0.0%
  • Number of equity-method affiliates6 companies
    Year on year against the same period last year0.0%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Factors affecting changes in sales and production volumes and selling prices are provided. Paper sales increased by 1.5 thousand tonnes, pulp sales decreased by 5.1 thousand tonnes, paper production increased by 4.4 thousand tonnes and pulp production decreased by 5.5 thousand tonnes. Selling prices were profit-increasing factors of ¥1.6 billion for paper and ¥700 million for pulp.
Segment results
  • Paper and Pulp Manufacturing Business
    Net Sales50,183 Millions of yen
    Operating profit494 Millions of yen
    Year-on-year revenue growth1,987 Millions of yen
    Year-on-year change in operating profit-385 Millions of yen
  • Power Generation Business
    Net Sales2,779 Millions of yen
    Operating profit181 Millions of yen
    Year-on-year revenue growth-24 Millions of yen
    Year-on-year change in operating profit-69 Millions of yen
  • Other
    Net Sales8,926 Millions of yen
    Operating profit244 Millions of yen
    Year-on-year revenue growth164 Millions of yen
    Year-on-year change in operating profit42 Millions of yen
  • Adjustments
    Net Sales-6,806 Millions of yen
    Operating profit9 Millions of yen
    Year-on-year revenue growth-96 Millions of yen
    Year-on-year change in operating profit-13 Millions of yen
Financial targets
ROE was 1.2% for the interim period and is forecast at 3.7% for the full year. Other financial targets: Not disclosed.
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
  • ¥-135 million / year
    Details¥1 weaker against the US dollar
  • ¥-65 million / year
    DetailsCrude oil up US$1/bbl
Capital expenditures
¥24.2 100 million tangible fixed asset acquisitions during the interim period of fiscal 2026) / ¥6.4 billion (fiscal 2026 plan
Annual Dividend
Annual
¥120 per share
Interim
¥60 per share
Contents of this document
ItemDetails
Document typeFinancial results presentation
Fiscal Period CoveredFY2026 Second Quarter (First Half)
Net Sales55,083 Millions of yen (YoY +3.8%)
Operating profit930 Millions of yen (YoY -31.4%)
Ordinary income1,140 Millions of yen (YoY -26.6%)
Net income709 Millions of yen (YoY -27.8%)
Full-year earnings forecastNet Sales 116,000 Millions of yen / Operating profit 2,300 Millions of yen / Ordinary income 2,700 Millions of yen / Profit attributable to owners of the parent 2,300 Millions of yen / Annual dividend ¥120 per share / ROE 3.7 %
Segment resultsSegment Paper and Pulp Manufacturing Business / Net Sales 50,183 Millions of yen / Operating profit 494 Millions of yen / Year-on-year revenue growth 1,987 Millions of yen / Year-on-year change in operating profit -385 Millions of yen, Segment Power Generation Business / Net Sales 2,779 Millions of yen / Operating profit 181 Millions of yen / Year-on-year revenue growth -24 Millions of yen / Year-on-year change in operating profit -69 Millions of yen, Segment Other / Net Sales 8,926 Millions of yen / Operating profit 244 Millions of yen / Year-on-year revenue growth 164 Millions of yen / Year-on-year change in operating profit 42 Millions of yen, Segment Adjustments / Net Sales -6,806 Millions of yen / Operating profit 9 Millions of yen / Year-on-year revenue growth -96 Millions of yen / Year-on-year change in operating profit -13 Millions of yen
Breakdown of Factors Affecting the ChangeFactors Selling Prices / Amount ¥23 100 million, Factors Raw material and fuel prices / Amount ¥-27 100 million, Factors Raw timber, chemicals, fuel and other items / Amount ¥-27 100 million, Factors SG&A expenses / Amount ¥-2 100 million, Factors Fixed Costs / Amount ¥-1 100 million, Factors Electricity Sales / Amount ¥-1 100 million, Factors Costs / Amount ¥-1 100 million, Factors Volume variance / Amount ¥0 100 million, Factors Receipt/payment differential and other items / Amount ¥4 100 million
Key KPIsIndicator name Return on equity (ROE) / Value 1.2 % / Year on year against the same period last year -0.5 %, Indicator name Depreciation and amortization / Value 3,018 Millions of yen / Year on year against the same period last year -66 Millions of yen, Indicator name Exchange rate / Value ¥159.88 /US$ / Year on year against the same period last year ¥13.06 /US$, Indicator name Dubai crude oil / Value 102 US$/bbl / Year on year against the same period last year 30 US$/bbl, Indicator name Number of consolidated subsidiaries / Value 7 companies / Year on year against the same period last year 0 companies, Indicator name Number of equity-method affiliates / Value 6 companies / Year on year against the same period last year 0 companies
Unit price and quantity metricsFactors affecting changes in sales and production volumes and selling prices are provided. Paper sales increased by 1.5 thousand tonnes, pulp sales decreased by 5.1 thousand tonnes, paper production increased by 4.4 thousand tonnes and pulp production decreased by 5.5 thousand tonnes. Selling prices were profit-increasing factors of ¥1.6 billion for paper and ¥700 million for pulp.
Assumptions Underlying the Business OutlookItem Exchange rate / Value ¥159.9 /US$, Item Dubai crude oil / Value 101 US$/bbl, Item Sales Volumes / Details Paper sales down 3.9 thousand tonnes, pulp sales down 0.2 thousand tonnes, Item Production volume / Details Paper production up 19.1 thousand tonnes, pulp production down 2.5 thousand tonnes
Risk amount incorporated into the outlookDetails ¥1 weaker against the US dollar / Amount ¥-135 million / year, Details Crude oil up US$1/bbl / Amount ¥-65 million / year
Financial targetsROE was 1.2% for the interim period and is forecast at 3.7% for the full year. Other financial targets: Not disclosed.
Annual DividendAnnual ¥120 per share / Interim ¥60 per share / End of period Not disclosed
Capital expenditures¥24.2 100 million (tangible fixed asset acquisitions during the interim period of fiscal 2026) / ¥6.4 billion (fiscal 2026 plan)
New initiativesNo. 3 lime kiln third support tire replacement work at the Takaoka Mill, Replacement of the suction filter cylinder on the pulp machine at the Sendai Mill
Items this document does not state (14)
Gross Profit MarginOperating 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 employeesMedium-term management plan targetsPayout ratioAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey 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.

Net sales increased due to the effect of paper price revisions, a recovery in overseas pulp market conditions, the weaker yen and expanded domestic sales. Profit was affected by soaring prices for raw timber, chemicals, fuel and other raw materials and fuels, higher logistics and other expenses, and lower export demand in Asia and the Middle East.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Financial Results Briefing Materials for the Second Quarter (Interim Period) of Fiscal 2026 | Chuetsu Pulp & Paper Co.,Ltd. (3877) timely disclosure | Komori