Mitsubishi Paper Mills Limited significantly raised its consolidated net income forecast for the current fiscal year from its previous forecast, expects record-high profit for the first time in 37 fiscal years and indicated plans to effectively increase its annual dividend in connection with the stock split. The company is notable for turning profitable on a cumulative second-quarter basis and forecasting high profitability in the second half.
Mitsubishi Paper Mills Limited announced its results on 12 November 2024, reporting that consolidated net income for the cumulative second quarter of the fiscal year ending March 2027 (April–September) had turned profitable at ¥2.83 billion. It subsequently raised its full-year consolidated net income forecast 2.2-fold, from the previous ¥6.5 billion to ¥14.0 billion, with the forecast profit growth rate expanding from 3.4-fold to 7.4-fold. After considering the second-half plan together with the company’s actual results, full-year profit is expected to reach a record high for the first time in 37 fiscal years.
Results for the first half and the outlook were significantly supported by performance in the most recent 3 months. Consolidated net income for the July–September quarter surged 19-fold year on year to ¥670 million, while the operating profit margin on sales improved from 3.2% in the same period of the previous year to 5.6%.
A notice concerning the stock split was also issued at the same time. In connection with the 1-for-2 stock split effective 31 December, the company revised its annual dividend for the current fiscal year from the previous plan of ¥20 to ¥23.5. On a pre-stock-split basis, this equates to ¥40, and the annual dividend is expected to represent an effective increase.