Mitsubishi Paper Mills (3864) Q3 2025 earnings summary

Executive summary

• Net sales for the first nine months ended December 31, 2024, were ¥132,655 million, down 8.3% year-over-year, with operating income at ¥2,413 million, down 16.3% year-over-year.

• Ordinary income declined 37.6% year-over-year to ¥2,704 million, and profit attributable to owners of parent was ¥2,401 million, reversing a loss in the prior year.

• The company implemented cost reductions and productivity improvements, merged subsidiaries, and discontinued certain production equipment to enhance profitability.

• Initiatives included a focus on functional materials, sustainability, and digital transformation, with a new medium-term management plan announced.

Financial highlights

• Gross profit for the nine months was ¥18,068 million, down from ¥20,145 million year-over-year.

• EPS for the nine months was ¥54.81, compared to a loss per share of ¥10.51 in the prior year.

• Total assets at period end were ¥226,264 million, down ¥9,115 million from March 2024.

• Net assets increased to ¥91,145 million, with an equity ratio of 40.3%, up 1.6 points from year-end.

• Comprehensive income for the period was ¥641 million, up from ¥437 million year-over-year.

Outlook and guidance

• Full-year net sales forecast revised to ¥180,000 million, down 7.0% year-over-year.

• Operating and ordinary income both forecast at ¥4,500 million, down 16.8% and 36.6% year-over-year, respectively.

• Profit attributable to owners of parent projected at ¥4,500 million, with EPS of ¥102.81.

• Dividend forecast revised to ¥15.00 per share for the year.