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Oji Holdings (3861) investor relations material

Oji Holdings Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary7 Nov, 2025

Executive summary

  • Operating profit for the first half of FY2025 declined to ¥16.7 billion, down 55.0% year-over-year, mainly due to a downturn in the overseas pulp market, increased costs, and foreign exchange losses.

  • Net sales for the first half of FY2025 were ¥915.0 billion, down 0.9% year-over-year.

  • Extraordinary gains from the sale of investment securities were recorded, offset by business restructuring expenses at Oji Fibre Solutions and Oji Nepia.

  • The group is executing its Medium-Term Business Plan 2027, focusing on capital efficiency, portfolio transformation, and sustainability, including restructuring low-profit businesses and investing in growth areas like sustainable packaging and forest biomass.

  • Major restructuring included plant closures in Japan, withdrawal from certain overseas businesses, and the acquisition of AustroCel Hallein to strengthen the forest biomass segment.

Financial highlights

  • Operating profit dropped to ¥16.7 billion from ¥37.2 billion, and profit attributable to owners of parent fell to ¥10.9 billion from ¥24.3 billion.

  • Ordinary profit decreased sharply to ¥8.8 billion from ¥39.4 billion.

  • Profit per share for the first half was ¥11.85, compared to ¥24.67 in the prior year.

  • Comprehensive income turned negative at ¥(41.8) billion, compared to ¥107.3 billion in the previous year, mainly due to foreign currency translation losses.

  • Total assets decreased to ¥2,574.1 billion, and net assets fell to ¥1,065.4 billion as of September 30, 2025.

Outlook and guidance

  • FY2025 full-year net sales are forecast at ¥1,850.0 billion, with operating profit expected at ¥45.0 billion, down 40% from the previous forecast.

  • Profit attributable to owners of parent is forecast to rise to ¥50.0 billion, up ¥3.8 billion year-over-year.

  • ROE is projected at 4.7%, up 0.4pt from FY2024.

  • Revised forecast lowered operating profit by ¥30.0 billion and net sales by ¥50.0 billion compared to the previous plan.

  • Assumed exchange rates for the second half: JPY/USD 150.00, with sensitivity analysis provided.

Net effect of portfolio transformation on FY27 targets
Reconcile 50% payout target with 36 yen FY25 dividend
Why did FY24 profit to owners increase post-restatement?
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Frequently asked questions

Oji Holdings Corporation is a Japanese company engaged in the production and sale of paper, packaging materials, and related products. Its operations span a wide range of industries, including printing and writing paper, corrugated containers, paperboard, and functional materials such as adhesive products and thermal paper. The company also manages forestry resources and invests in renewable energy projects. Oji Holdings Corporation is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.

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