Pulp & Paper · Fiscal year end Mar 31

Nippon Paper Industries Co., Ltd.

3863

日本製紙株式会社

FIGI BBG0046L16R43863.T3863 JPCorp. no. 8011501009422

Latest half-year results

First half · fiscal year to 2026-03 · filed 2025-11-13

For the first half of the fiscal year to 2026-03: Revenue ¥589.2 billion (+0.8% YoY), Ordinary income ¥8.5 billion (+377.5% YoY), Net income ¥0.8 billion.

	This period	Year on year
Revenue	¥589.2bn	+0.8%
Ordinary profit	¥8.5bn	+377.5%
Net profit to owners	¥754m	—

From the securities report on EDINET, which states no forecast. History via /v1/companies/3863/earnings-releases.

Financials

Japan GAAP · consolidated · fiscal year to 2026-03-31

Revenue: ¥1.2tn
Net income: ¥11.7bn
ROE: 2.4%
Equity ratio: 29.2%
Dividend / share: ¥15
Employees: 15,042

Revenue · ¥tn

Net income · ¥bn

Fiscal year	Revenue	Net income	Total assets	Net assets	ROE	EPS	Operating CF
2026-03-31	¥1,192.6bn	¥11.7bn	¥1,738.5bn	¥540.5bn	2.4%	¥101.69	¥75.0bn
2025-03-31	¥1,182.4bn	¥4.5bn	¥1,703.3bn	¥510.4bn	1.0%	¥39.33	¥72.8bn
2024-03-31	¥1,167.3bn	¥22.7bn	¥1,731.2bn	¥495.6bn	5.3%	¥197.09	¥90.3bn
2023-03-31	¥1,152.6bn	−¥50.4bn	¥1,666.5bn	¥415.2bn	-12.3%	¥-436.28	¥65.8bn
2022-03-31	¥1,045.1bn	¥2.0bn	¥1,639.3bn	¥438.6bn	0.5%	¥17.23	¥72.4bn

Indicators

Computed by us from filings · fiscal year to 2026-03-31

Metric	Value	Percentile among listed companies
ROE, %	2.4	12.4
Ordinary margin	0.0194	16.9
Equity ratio, %	29.2	13.4
Revenue growth	0.0086	29.1
Net income growth	1.5871	90.8
Operating cash flow / assets	0.0431	35.8

Policy-uncertainty measure0.44 Share of the report's text discussing policy-related uncertainty, by policy area. Proprietary text method.

Trade & tariffs 1 Politics & geopolitics 1

Ownership activity 1 filer(s) stated they may make proposals in 365 days; 2 new 5% holder(s) in 180 days; net stake change +1.09pt in 90 days; 2.1% held by other listed companies.

Results wording balance: +0.33. Proprietary text method; it describes the wording only and does not interpret context.

Interest example: if all ¥858.3bn of reported debt repriced by 50 basis points, a year's interest would rise by ¥4.3bn, 5.7% of operating cash flow. Our arithmetic only, not a forecast: fixed-rate debt and hedges are ignored.

Via /v1/companies/3863/indicators. Descriptive figures, not a rating and not investment advice.

From other filings

As the company states them

Internal control, 2026-06-25: see filing 上記の評価の結果、当事業年度末日時点において、当社の財務報告に係る内部統制は有効であると判断しました。 Filing

Segments, votes and tender offers

Stated in EDINET filings

Segments: Paper and Paperboard, Lifestyle, Energy Project, Wood Products and Construction Related, Other. /v1/companies/3863/segments

Latest voting result: 2026-06-26 · 剰余金の処分の件 · passed. /v1/companies/3863/voting

Ownership changes

All companies →

2026-10-22

Increase+1.09pt

― raised holdings in Nippon Paper Industries Co., Ltd. (3863) to 10.87% from 9.78%.

S100Z969Filer profile Original filing (PDF, Japanese)
2026-10-22

Threshold

Holdings of ― in Nippon Paper Industries Co., Ltd. (3863) moved above 10% (9.78% -> 10.87%).

S100Z969Filer profile Original filing (PDF, Japanese)
2026-07-23

Increase+1.05pt

― raised holdings in Nippon Paper Industries Co., Ltd. (3863) to 9.78% from 8.73%.

S100YRLUFiler profile Original filing (PDF, Japanese)
2026-07-06

New 5% stake

BlackRock Japan Co., Ltd. disclosed a 5.38% stake in Nippon Paper Industries Co., Ltd. (3863), crossing the 5% reporting threshold.

S100YODAFiler profile Original filing (PDF, Japanese)
2026-06-15

Increase+1.18pt

― raised holdings in Nippon Paper Industries Co., Ltd. (3863) to 8.73% from 7.55%.

S100YBD6Filer profile Original filing (PDF, Japanese)
2026-06-09

Increase+1.11pt

― raised holdings in Nippon Paper Industries Co., Ltd. (3863) to 7.55% from 6.44%.

S100Y96YFiler profile Original filing (PDF, Japanese)
2026-06-03

Purpose change+1.33pt

― changed its stated purpose for holding Nippon Paper Industries Co., Ltd. (3863): may_make_proposals -> may_make_proposals, shareholder_value_engagement, undervaluation_thesis.

S100Y821Filer profile Original filing (PDF, Japanese)
2026-06-03

Increase+1.33pt

― raised holdings in Nippon Paper Industries Co., Ltd. (3863) to 6.44% from 5.11%.

S100Y821Filer profile Original filing (PDF, Japanese)
2026-05-12

Stated it may make proposals

― states it may make proposals to the management of Nippon Paper Industries Co., Ltd. (3863) (first filing).

S100Y2OEFiler profile Original filing (PDF, Japanese)
2026-05-12

New 5% stake

― disclosed a 5.11% stake in Nippon Paper Industries Co., Ltd. (3863), crossing the 5% reporting threshold.

S100Y2OEFiler profile Original filing (PDF, Japanese)

Trades by 5% holders

From the 60-day trade tables in 5% reports

Bought SoldHover a dot for the trade

Holder	Period	Net shares	Net % of shares	Avg. filed price	Range
株式会社シティインデックスフィフス	2026-08-17 – 2026-10-15	+583,000	+0.53pt	—	—
株式会社C&I Holdings	2026-04-23 – 2026-07-15	+2,102,000	+1.78pt	—	—
株式会社Mホールディングス	2026-03-24 – 2026-07-13	+6,777,200	+5.81pt	—	—
individual filer	2026-03-24 – 2026-05-27	+2,485,600	+2.14pt	¥1,180	¥1,180–1,180
Ichigo Asset Management International, Pte. Ltd.	2021-09-17 – 2022-03-23	-2,706,600	−2.32pt	¥1,230.5	¥1,231–1,231
Ichigo Trust Pte. Ltd.	2021-09-17 – 2022-03-23	-2,706,600	−2.32pt	¥1,230.5	¥1,231–1,231

Net shares and the average are our calculations. Prices are filed prices as stated by the filer, mostly for off-market trades; they are not market prices. Stock lending, custody transfers and option exercises are excluded from net shares. Every row via /v1/companies/3863/trades.

5% filings

Large shareholding reports on 3863

Filed	Filer	Stake	Change	Stated purpose
2026-10-22	―	10.87%	+1.09pt	may make proposals shareholder value engagement undervaluation thesis
2026-07-23	―	9.78%	+1.05pt	may make proposals shareholder value engagement undervaluation thesis
2026-07-06	BlackRock Japan Co., Ltd.	5.38%	—	pure investment
2026-06-15	―	8.73%	+1.18pt	may make proposals shareholder value engagement undervaluation thesis
2026-06-09	―	7.55%	+1.11pt	may make proposals shareholder value engagement undervaluation thesis
2026-06-03	―	6.44%	+1.33pt	may make proposals shareholder value engagement undervaluation thesis
2026-05-12	―	5.11%	—	may make proposals
2025-12-22	Nippon Life Insurance Company	5.14%	+0.10pt	pure investment
2025-12-19	Sumitomo Mitsui Trust Bank,Limited	4.55%	−1.03pt	strategic holding
2025-09-19	Sumitomo Mitsui Trust Bank,Limited	5.58%	−0.30pt	strategic holding

Cross-shareholdings

From the annual report's status of shareholdings

Listed strategic holdings: 30 issues
Book value: ¥25.6bn
Sold in the year: ¥5.2bn 25 issues
Bought in the year: ¥184m 2 issues
Mutual, both reports: 16
Held by listed cos.: 58

Holds	Book value	Shares vs. prior year	Mutual
Recruit Holdings Co., Ltd. 6098	¥11.7bn	-30.8%	no
Oji Holdings Corporation 3861	¥9.2bn	0.0%	both reports
Elopak ASA	¥8.2bn	+1.7%	no
Mizuho Financial Group, Inc. 8411	¥4.0bn	-36.7%	stated
TOMOKU CO.,LTD. 3946	¥2.4bn	0.0%	both reports
Sompo Holdings, Inc. 8630	¥2.0bn	0.0%	stated
The 77Bank,Ltd. 8341	¥1.9bn	-33.4%	both reports
ASAHI GROUP HOLDINGS,LTD. 2502	¥1.6bn	0.0%	no
Yamaguchi Finacial Group,Inc. 8418	¥1.3bn	-33.3%	both reports
kuribayashi steamship co.,ltd. 9171	¥1.3bn	-16.9%	both reports

Held by: KPP GROUP HOLDINGS CO., LTD. 9274, Toyo Seikan Group Holdings, Ltd. 5901, TAKUMA CO., LTD. 6013, kuribayashi steamship co.,ltd. 9171, KOKUYO CO.,LTD. 7984, The Shikoku Bank, Ltd. 8387, The 77Bank,Ltd. 8341, Hirogin Holdings, Inc. 7337, Yamaguchi Finacial Group,Inc. 8418, NIPPON FELT CO.,LTD. 3512, North Pacific Bank,Ltd. 8524, KYODO PAPER HOLDINGS 9849 and 46 more

Purposes, all holdings and mutual flags via /v1/companies/3863/cross-holdings. Share changes include stock splits.

Major shareholders

As of fiscal year end 2026-03-31

Shareholder	Shares	Ratio
日本マスタートラスト信託銀行株式会社(信託口) (注)１	13,377,700	11.55%
株式会社日本カストディ銀行(信託口) (注)１	7,993,700	6.90%
日本製紙従業員持株会	3,054,429	2.64%
ステート　ストリート　バンク　アンド　トラストカンパニー505223	3,025,743	2.61%
日本製紙取引先持株会	2,684,800	2.32%
individual holder	2,476,300	2.14%
日本生命保険相互会社	2,473,165	2.13%
大樹生命保険株式会社	2,258,900	1.95%
ステート　ストリート　バンク　アンド　トラストカンパニー505001	1,912,340	1.65%
INTERACTIVE BROKERS LLC	1,601,415	1.38%

U.S. funds holding 3863

SEC Form N-PORT, reports to 2026-07-31

58 U.S. funds held 14,005,971 shares worth $116.4m.

Fund	Shares	Value	% of fund	As of
Avantis International Small Cap Value ETF American Century ETF Trust	2,710,700	$21.4m	0.108%	2026-05-31
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND VANGUARD STAR FUNDS	1,562,489	$13.5m	0.002%	2026-07-31
DFA INTERNATIONAL SMALL CAP VALUE PORTFOLIO DFA INVESTMENT DIMENSIONS GROUP INC	1,291,857	$11.1m	0.078%	2026-07-31
VANGUARD DEVELOPED MARKETS INDEX FUND VANGUARD TAX-MANAGED FUNDS	1,047,247	$8.3m	0.003%	2026-06-30
Dimensional International Small Cap Value ETF Dimensional ETF Trust	926,988	$8.0m	0.162%	2026-07-31

Up to 25 funds per stock via the API.

Get this as JSON

GET /v1/companies/3863
GET /v1/companies/3863/financials
GET /v1/companies/3863/details
GET /v1/companies/3863/segments
GET /v1/companies/3863/voting
GET /v1/companies/3863/tender-offers
GET /v1/companies/3863/indicators
GET /v1/companies/3863/earnings-releases
GET /v1/events?ticker=3863
GET /v1/companies/3863/trades         
GET /v1/companies/3863/cross-holdings 
GET /v1/companies/3863/brief

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