Worth reading
61In 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
-186
JPY million (year-on-year decrease in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFiscal year ending March 2026, full year13 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥23,487 million0.0%
Operating profit¥717 million-20.7%
Ordinary income¥991 million-12.3%
Net income¥724 million-23.4%
Operating profit margin3.1 %
Full-year earnings forecast
Net Sales
¥24,323 million
Operating profit
¥901 million
Ordinary income
¥1,134 million
Profit attributable to owners of the parent
¥792 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Lower revenue and profit; behind the initial planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Change in sales volume¥5 million
- Change in selling prices¥101 million
- Change in product revenue¥-8 million
- Manufacturing Costs¥-44 million
- SG&A expenses¥-218 million
- Adjustments, etc.¥-24 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
References crude oil prices and supply-demand trends for petroleum-related products, among other factors, but the numerical assumptions are Not disclosedNew initiatives
- Installation of new equipment at the Ibaraki Plant for pulp-molded products (investment of ¥2.3 billion; scheduled to begin operations in June 2026)
- Expansion of high-value-added products such as Paramill
- Development of 3 new types of molded products under the Yuricargo name
- Start-up of a new multilayer T-die production line in the film business
- Promotion of digital transformation through the absorption-type merger with AXIS CO.,LTD.
- Development and company-wide deployment of a proprietary generative AI system
- Improving operational efficiency through the use of SFA
Key KPIsA metric the company considers important as a management benchmark.
- Revenue growth rate (CAGR from the fiscal year ended March 2020 to the fiscal year ending March 2026)4.1 %
- Overseas revenue ratio15.4 %
- Domestic market share of pulp-molded productsNo.1
- Domestic market share of polystyrene film for food traysTop-tier
Segment results
Cushioning materials business
Net Sales
¥11,638 million+5.3%
Segment profit
¥1,181 million+34.8%
Segment profit margin
10.2 %
yoy_change_point2.2
Packaging functional materials business
Net Sales
¥11,401 million-4.9%
Segment profit
¥626 million-32.7%
Segment profit margin
5.5 %
yoy_change_point-2.3
Medium-term management plan targets
Eighth Medium-Term Management Plan
Target fiscal yearFiscal year ending March 2028
Net Sales¥250 million
Ordinary income¥15 million
Long-Term Vision
Target fiscal yearFiscal year ending March 2035
Net Sales¥300 million
Market Size / Share
Domestic market share of pulp-molded productsNo.1
Domestic market share of polystyrene film for food traysTop-tier
Number of stores and locations
End of period
Sales Offices
Domestic13 Location
Overseas expansion2 Location
Production Sites
Domestic6 Location
Overseas expansion2 Location
Number of employees
Number of Employees594 People
Record dateEnd of March 2026
Capital expenditures
¥3,263 million
Annual Dividend
Fiscal year ending March 2027 forecast
Annual dividend per share¥52
Interim Dividend¥26
Year-end dividend¥26
Payout ratio
DOE2
DOE unit% or higher as a guideline
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥23,487 million (YoY 0.0%) |
| Operating profit | ¥717 million (YoY -20.7%) |
| Ordinary income | ¥991 million (YoY -12.3%) |
| Net income | ¥724 million (YoY -23.4%) |
| Operating profit margin | 3.1 % |
| Full-year earnings forecast | Net Sales ¥24,323 million / Operating profit ¥901 million / Ordinary income ¥1,134 million / Profit attributable to owners of the parent ¥792 million |
| Self-assessment against the plan | Lower revenue and profit; behind the initial plan |
| Segment results | Cushioning materials business Net Sales ¥11,638 million (YoY +5.3%) / Segment profit ¥1,181 million (YoY +34.8%) / Segment profit margin 10.2 % / Packaging functional materials business Net Sales ¥11,401 million (YoY -4.9%) / Segment profit ¥626 million (YoY -32.7%) / Segment profit margin 5.5 % |
| Breakdown of Factors Affecting the Change | Factors Change in sales volume / Amount ¥5 million, Factors Change in selling prices / Amount ¥101 million, Factors Change in product revenue / Amount ¥-8 million, Factors Manufacturing Costs / Amount ¥-44 million, Factors SG&A expenses / Amount ¥-218 million, Factors Adjustments, etc. / Amount ¥-24 million |
| Key KPIs | Indicator name Revenue growth rate (CAGR from the fiscal year ended March 2020 to the fiscal year ending March 2026) / Value 4.1 % / Year on year against the same period last year Not disclosed, Indicator name Overseas revenue ratio / Value 15.4 % / Year on year against the same period last year Not disclosed, Indicator name Domestic market share of pulp-molded products / Value No.1 / Year on year against the same period last year Not disclosed, Indicator name Domestic market share of polystyrene film for food trays / Value Top-tier / Year on year against the same period last year Not disclosed |
| Number of stores and locations | End of period Sales Offices Domestic 13 Location / Overseas expansion 2 Location / Production Sites Domestic 6 Location / Overseas expansion 2 Location / Number of store openings and closures during the period Not disclosed |
| Number of employees | Number of Employees 594 People / Record date End of March 2026 / Changes during the period and hiring plan Not disclosed |
| Assumptions Underlying the Business Outlook | References crude oil prices and supply-demand trends for petroleum-related products, among other factors, but the numerical assumptions are Not disclosed |
| Medium-term management plan targets | Eighth Medium-Term Management Plan Target fiscal year Fiscal year ending March 2028 / Net Sales ¥250 million / Ordinary income ¥15 million / Long-Term Vision Target fiscal year Fiscal year ending March 2035 / Net Sales ¥300 million |
| Annual Dividend | Annual dividend per share ¥52 / Interim Dividend ¥26 / Year-end dividend ¥26 / Subject Fiscal year ending March 2027 forecast |
| Payout ratio | Rate Not disclosed / DOE 2 / DOE unit % or higher as a guideline |
| Capital expenditures | ¥3,263 million |
| Market Size / Share | Domestic market share of pulp-molded products No.1 / Domestic market share of polystyrene film for food trays Top-tier |
| New initiatives | Installation of new equipment at the Ibaraki Plant for pulp-molded products (investment of ¥2.3 billion; scheduled to begin operations in June 2026), Expansion of high-value-added products such as Paramill, Development of 3 new types of molded products under the Yuricargo name, Start-up of a new multilayer T-die production line in the film business, Promotion of digital transformation through the absorption-type merger with AXIS CO.,LTD., Development and company-wide deployment of a proprietary generative AI system, Improving operational efficiency through the use of SFA |
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 forecastUnit price and quantity metricsRisk amount incorporated into the outlookFinancial targetsAcquisition of treasury sharesOrders 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.Lower revenue from overseas operations, higher depreciation and amortization associated with expanded capital investment, and higher personnel expenses resulting from improved employee compensation and expanded investment in human capital. Delays in generating new business results in the core businesses were also cited as a reason for falling short of the forecast.
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.