Komori
Musashi (7521) · RiskWorsenedLatest Earnings (2026-08-04): "Mitigated"

Declining Demand for Printing Paper

First written in FY2017-Q1. 20 of 32 entries say "Restated". Latest entry: 2026-08-04.

32entries
11years
3from disclosures
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How it moved
ProgressHeldSoftenedWorseRestatedFY2017-Q1 – FY2020-Q3RestatedFY2023-Q3 – FY2024WorsenedFY2025-H1 – FY20262016: 220162017: 420172018: 320182019: 320192020: 320202021: 320212022: 320222023: 320232024: 220242025: 220252026: 42026
Same theme, other companies
Structural decline in domestic paper demand due to the shift to digital mediaA theme 14 companies write about · 16 as a headwind · 0 as a tailwind

Musashi moved to the "Worse" side of this theme in 2020, 2 years before the typical company in this theme (2022).

The whole theme swung hardest in 2020: 7 of 14 companies on the "Worse" side.

0 other companies' latest entry also says "Mitigated".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-08-04MitigatedEarnings

    「印刷用紙や情報用紙の販売も概ね順調に推移しました。」

    前年度の需要減少による販売減少という記載から、印刷用紙・情報用紙の販売は概ね順調へ変化している。
  2. FY2026WorsenedAnnual report

    「Sales of paper and paper products, including paperboard for pharmaceutical and cosmetics cartons, remained solid, but sales of printing paper and information paper fell as a result of declining demand.」

    The description changed from generally solid sales of printing paper and information paper in the previous fiscal year to lower sales due to declining demand.
  3. FY2026-H1WorsenedAnnual report

    「Sales of paper and paper products, including paperboard for pharmaceutical and cosmetics cartons, remained firm, but sales of printing paper and information paper fell as a result of declining demand.」

    The description changed from generally solid sales of printing paper and information paper in the previous full fiscal year to lower sales due to declining demand.
  4. FY2025WorsenedAnnual report

    「Sales of paper and paper products, including paperboard for pharmaceutical and cosmetics cartons, remained solid, but sales of printing paper and information paper fell as a result of declining demand.」

    The description changed from generally solid sales of printing paper and information paper in the previous full fiscal year to lower sales due to declining demand in the current period, indicating that the impact of declining paper demand had strengthened again.
  5. FY2025-H1WorsenedAnnual report

    「Sales of paper and paper products, including paperboard for pharmaceutical and cosmetics cartons, remained solid, but sales of printing paper and information paper were somewhat sluggish.」

    The description changed from sales of printing paper and information paper being generally solid in the previous full fiscal year to being somewhat sluggish in the current interim period.
  6. FY2024RestatedAnnual report

    「Sales of paperboard and other products grew and remained solid. Sales of printing paper and information paper also remained generally solid.」

    Growth in paperboard for pharmaceutical and cosmetics cartons and generally solid sales of printing paper and information paper continued.
  7. FY2024-Q2RestatedAnnual report

    「Sales of printing paper and information paper also remained generally solid.」

    Sales of printing paper and information paper continued to be described as generally solid.
  8. FY2024-Q1RestatedAnnual report

    「Sales of printing paper and information paper also remained generally solid.」

    As in the previous period, sales of printing paper and information paper continued to be described as generally solid.
  9. FY2023-Q3RestatedAnnual report

    「Sales of paper and paper products grew, led by paperboard for pharmaceutical and cosmetics cartons, and remained solid. Sales of printing paper and information paper also remained generally solid.」

    Sales of printing paper and information paper became generally solid, and the weaker impact of declining paper demand continued from the previous quarter.
  10. FY2023-Q2MitigatedAnnual report

    「Sales of paper and paper products grew, led by paperboard for pharmaceutical and cosmetics cartons, and remained solid. Sales of printing paper and information paper also remained generally solid.」

    While sluggish sales of information paper had been reported through the previous quarter, printing paper and information paper were described as generally solid this quarter.
  11. FY2023-Q1RestatedAnnual report

    「Sales of paper and paper products remained solid as sales of paperboard for pharmaceutical and other cartons grew, despite sluggish sales of information paper.」

    The continued combination of weak demand for paper and growth in paperboard is reflected in the parallel references to sluggish information-paper sales and growth in sales of paperboard for pharmaceutical and other cartons.
  12. FY2022-Q3RestatedAnnual report

    「Sales of paper and paper products included growth in paperboard for pharmaceutical cartons, but sales of printing paper and information paper were affected by declining demand due to the slowdown in economic activity associated with the resurgence of the pandemic and the expansion of remote work.」

    Growth in paperboard for pharmaceutical cartons and declining demand for printing paper and information paper due to the resurgence of the pandemic and the expansion of remote work continued.
  13. FY2022-Q2RestatedAnnual report

    「Sales of paper and paper products included growth in paperboard for pharmaceutical cartons, but sales of information paper remained sluggish due to the impact of the resurgence of COVID-19.」

    Weak sales of information paper continued as a result of the impact of the resurgence of COVID-19.
  14. FY2022-Q1RestatedAnnual report

    「Sales of paper and paper products included growth in paperboard for pharmaceutical cartons, but sales of information paper remained sluggish due to the impact of the resurgence of COVID-19.」

    While weak demand and sales of information paper continued as a result of the impact of the resurgence of COVID-19, paperboard for pharmaceutical cartons continued to grow.
  15. FY2021-Q3WorsenedAnnual report

    「Sales of paper and paper products included growth in paperboard for pharmaceutical cartons, but demand for printing paper and information paper contracted amid the slowdown in economic activity associated with the resurgence of the pandemic and the expansion of remote work, resulting in sluggish performance.」

    In addition to the existing contraction in paper demand, the resurgence of the pandemic and the expansion of remote work were specifically identified as factors behind declining demand for printing paper and information paper, leaving the paper business as a whole sluggish.
  16. FY2021-Q2WorsenedAnnual report

    「Sales of paper and paper products included growth in paperboard for pharmaceutical cartons, but sales of printing paper and information paper, including pressure-sensitive paper, were affected by contracting demand amid the slowdown in economic activity caused by the spread of COVID-19.」

    In addition to the existing decline in demand for printing paper, information paper as a whole, including pressure-sensitive paper, was reported to have been affected by contracting demand, indicating a broader impact.
  17. FY2021-Q1WorsenedAnnual report

    「Paper and paper products generally posted sluggish sales as demand for paper, including printing paper and information paper, contracted at an accelerated pace amid the slowdown in economic activity caused by the spread of COVID-19.」

    The decline in paper demand that had been underway accelerated as demand contracted further due to the spread of COVID-19, resulting in sluggish sales overall.
  18. FY2020-Q3RestatedAnnual report

    「Sales of paperboard for folding cartons used for pharmaceuticals grew, while printing paper sales were affected by lower demand.」

    While paperboard for pharmaceutical cartons is growing, printing paper continues to be affected by declining demand.
  19. FY2020-Q2RestatedAnnual report

    「Sales of paperboard for folding cartons used for pharmaceuticals grew, while printing paper sales were affected by lower demand.」

    While sales of paperboard for pharmaceutical cartons are growing, printing paper continues to be affected by declining demand.
  20. FY2020-Q1RestatedAnnual report

    「Sales of paperboard for folding cartons used for pharmaceuticals grew, while printing paper sales were affected by lower demand.」

    While sales of paperboard for pharmaceutical cartons are growing, printing paper continues to be affected by declining demand.
  21. FY2019-Q3RestatedAnnual report

    「Sales of paperboard for folding cartons used for pharmaceuticals and cosmetics grew, but printing paper sales remained sluggish due to lower demand. Sales of pressure-sensitive paper and other products were also somewhat affected by lower demand.」

    Printing paper has continued to perform sluggishly due to declining demand, and this time it is stated that pressure-sensitive paper and other products were also somewhat affected by lower demand.
  22. FY2019-Q2RestatedAnnual report

    「Sales of paperboard for folding cartons used for pharmaceuticals and cosmetics grew, but printing paper sales remained sluggish due to lower demand.」

    While sales of paperboard for pharmaceuticals and cosmetics grew, the explanation that printing paper sales were sluggish due to lower demand has continued.
  23. FY2019-Q1RestatedAnnual report

    「Sales of paperboard for folding cartons used for pharmaceuticals and cosmetics grew, while printing paper sales were affected by lower demand.」

    While sales of paperboard for folding cartons used for pharmaceuticals and cosmetics grew, printing paper has continued to be affected by lower demand.
  24. FY2018-Q3RestatedAnnual report

    「Sales of paperboard for folding cartons used for pharmaceuticals and cosmetics grew, but printing paper sales remained weak due to lower demand.」

    While sales of paperboard for folding cartons used for pharmaceuticals and cosmetics grew, weak sales due to declining demand for printing paper have continued.
  25. FY2018-Q2RestatedAnnual report

    「Sales of paperboard for folding cartons used for pharmaceuticals and cosmetics grew, but printing paper sales were somewhat sluggish due to lower demand.」

    Weak printing paper sales due to declining demand have continued.
  26. FY2018-Q1RestatedAnnual report

    「Sales of printing paper were affected by lower demand, but overall performance remained generally steady as sales of thermal recording paper for business forms grew.」

    The impact of declining demand for printing paper on sales has continued.
  27. FY2017RestatedAnnual report

    「Sales of printing paper were sluggish due to lower demand in commercial printing and publishing, while sales of paperboard for folding cartons and thermal recording paper for business forms grew.」

    Weak printing paper sales due to lower demand in commercial printing and publishing have continued.
  28. FY2017-Q3RestatedAnnual report

    「Sales of printing paper were sluggish due to lower demand for advertising, but overall performance remained generally steady as sales of paperboard for folding cartons grew on firm packaging demand.」

    The explanation that printing paper sales were sluggish due to declining advertising demand has continued.
  29. FY2017-Q2RestatedAnnual report

    「Sales of printing paper were sluggish due to lower demand, but overall performance remained generally steady as sales of specialty wrapping paper for photosensitive materials and high-function paperboard for pharmaceutical packaging grew.」

    Weak printing paper sales due to declining demand have continued.
  30. FY2017-Q1First statedAnnual report

    「Sales of printing paper, the core product in paper and converted paper products, declined slightly due to lower demand. However, sales of paperboard for folding cartons grew for food and pharmaceutical packaging, resulting in generally steady performance.」

    Declining demand for printing paper is reflected in lower sales.
Moved together

"Uncertainty over the Outlook Due to a Slowdown in Emerging Economies, the UK's Withdrawal from the EU, and a Stronger Yen" moved the same way as this thread, in the same document, in 9 of its 32 moves.

998876★123456
  1. ★This thread
  2. 1Uncertainty over the Outlook Due to a Slowdown in Emerging Economies, the UK's Withdrawal from the EU, and a Stronger Yen9×
  3. 2Loss recorded by the paper and paper products segment9×
  4. 3Declining Demand for Printing Equipment Such as CTP and POD8×
  5. 4Delays in Financial Institutions’ Equipment Renewals and Security Equipment Sales Negotiations8×
  6. 5Year-on-year increases in revenue and profit7×
  7. 6Growing Orders for the Document Digitization Business6×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
Musashi's next results are scheduled for 2026-11-10. Read the earnings preview It last moved in the Earnings of 2026-08-04: "Mitigated".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.