Nippon Paper IndustriesNippon Paper Industries Co., Ltd.3863東証プライムパルプ・紙FY ending Mar 2026, consolidated, J-GAAP

Nippon Paper Industries FY ending Mar 2026 results

About 47% of Nippon Paper Industries's sales come from Paper and paperboard, with Lifestyle and Wood products and construction related making up much of the rest.

Out of every ¥100 of sales, about ¥2 is left as operating profit.

Revenue changed +0.9% from the prior year, operating profit +27.9%.

Revenue and profit pattern

Revenue and profit upProfit grew faster

Revenue +0.9% · profit +27.9%, calculated from disclosed figures.

Operating leverage: 32.43× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue: +0.9%¥1.18T → ¥1.19T
Gross profit: +4.2%¥191.1B → ¥199B
Operating income: +27.9%¥19.7B → ¥25.2B
Net income attributable to owners: +158.7%¥4.54B → ¥11.7B
Operating cash flow: +3.0%¥72.8B → ¥75B
Free cash flow: -4.7%¥21.7B → ¥20.7B

Results at a glance

Revenue for FY ending Mar 2026 was ¥1.19T, up a modest +0.9%.
Profits grew much faster: operating income rose from ¥19.7B to ¥25.2B (+27.9%), and net income attributable to owners went from ¥4.54B to ¥11.7B (+158.7%).
Operating cash flow increased to ¥75B (+3.0%), but free cash flow slipped to ¥20.7B (-4.7%).

What drove the change

A new household tissue mill (Crecia Miyagi) contributed sales for the full year.
Nippon Dynawave Packaging in North America returned to normal operation after a large maintenance shutdown in the prior year.
Better efficiency at Opal's Maryvale mill in Australia cut costs and raised output, though paper export volumes fell on weak market conditions.

Things to watch

If the turnaround at Opal in Australia falls behind plan, group results could suffer.
Demand for printing and office paper keeps shrinking as things go digital, and slow restructuring of production would hurt earnings.
Prices for wood chips, recovered paper, coal and freight tend to rise with markets and labor shortages, and the company may not pass all of it on to customers.

Annual Securities Report (102nd term) / 経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析 · Annual Securities Report (102nd term) / 事業等のリスク

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

For every ¥100 Nippon Paper Industries sells, how much goes where, and how much is kept.

FY ending Mar 2026

Cost of sales: ¥83
SG&A: ¥15
Operating profit: ¥2
Net profit kept: ¥1

Annual margin trends

Gross margin16.7%

Operating margin2.1%

Net margin1.0%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Paper and paperboard¥557.9B
47%
Op. margin 0.1%Industry: Paper & Pulp
Lifestyle¥482B
40%
Op. margin 1.5%Industry: Toiletries & Household Products
Wood products and construction related¥76.5B
6%
Op. margin 13.1%Industry: Housing Equipment & Building Materials
Energy project¥43.2B
4%
Op. margin 7.7%Industry: Electric Power & Gas
Other¥33B
3%
Op. margin 9.7%

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書－第102期(2025/04/01－2026/03/31)
ID S100YJ5X2026-06-25Open
EDINET (FSA Japan)
有価証券報告書－第101期(2024/04/01－2025/03/31)
ID S100W5KI2025-06-26Open
EDINET (FSA Japan)
有価証券報告書－第100期(2023/04/01－2024/03/31)
ID S100TU892024-06-27Open
EDINET (FSA Japan)
有価証券報告書－第99期(2022/04/01－2023/03/31)
ID S100R8UQ2023-06-29Open
EDINET (FSA Japan)
訂正有価証券報告書－第98期(令和3年4月1日－令和4年3月31日)
ID S100OSWQ2022-07-29Open
EDINET (FSA Japan)
有価証券報告書－第97期(令和2年4月1日－令和3年3月31日)
ID S100LRPU2021-06-29Open

Extracted from XBRL: 55 / Derived from other figures: 2

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