Mitsubishi Paper Mills (3864) Q4 2025 earnings summary

Executive summary

• Net sales for FY2024 were 175,942 million yen, down 9.1% year-over-year, reflecting a market slump in Europe and lower sales volumes despite domestic price revisions and cost reductions.

• Operating income decreased 15.6% to 4,567 million yen, and ordinary income fell 35.9% to 4,548 million yen compared to the previous year.

• Profit attributable to owners of parent rose to 4,343 million yen from 4,170 million yen in FY2023.

• Comprehensive income turned negative at (5,235) million yen, mainly due to a significant decrease in remeasurements of defined benefit plans.

Financial highlights

• Gross profit declined to 25,162 million yen from 28,146 million yen year-over-year.

• Cash and cash equivalents at year-end were 6,239 million yen, down from 10,009 million yen.

• Operating cash flow was 4,854 million yen, a decrease of 8,632 million yen year-over-year.

• Investing activities generated 4,797 million yen, mainly from asset sales; financing activities used 13,402 million yen, primarily for loan repayments.

• Total assets decreased to 208,217 million yen from 235,380 million yen, and net assets fell to 85,282 million yen.

Outlook and guidance

• FY2025 forecast: net sales of 180,000 million yen (+2.3%), operating income of 8,000 million yen (+75.2%), ordinary income of 8,000 million yen (+75.9%), and profit attributable to owners of parent of 3,500 million yen.

• Extraordinary loss expected in FY2025 due to structural reform in Germany.

• Dividend for FY2024 set at 15 yen per share, with the same planned for FY2025.