Oji Holdings (3861) Q1 2025 earnings summary

Executive summary

• Net sales rose 4.2% year-over-year to ¥438.1 billion, driven by yen depreciation and recovery at Pan Pac Forest Products.

• Operating profit declined 33.3% to ¥14.5 billion due to deteriorating overseas pulp market conditions.

• Profit attributable to owners of parent increased slightly by 0.7% to ¥17.7 billion, aided by gains on sale of investment securities.

• Overseas sales ratio increased by 3.8 points to 37.4%.

• Acquisition of Walki Holding Oy and its affiliates completed, expanding the European packaging platform.

Financial highlights

• Gross profit decreased to ¥82.8 billion from ¥85.6 billion year-over-year.

• Ordinary profit fell 15.7% to ¥24.4 billion.

• Profit before taxes rose 4.4% to ¥29.1 billion, reflecting extraordinary gains.

• Comprehensive income surged to ¥53.6 billion from ¥28.7 billion, mainly due to foreign currency translation gains.

• EPS was ¥18.00, up from ¥17.76 in the prior year.

Outlook and guidance

• Full-year net sales forecast at ¥1,950 billion, up 15.0% year-over-year.

• Operating profit projected at ¥95.0 billion, ordinary profit at ¥100.0 billion, and profit attributable to owners of parent at ¥75.0 billion.

• Full-year EPS forecast at ¥76.17.

• No change in dividend forecast; annual dividend expected at ¥24.00 per share.