Mitsubishi Paper Mills (TSE:3864) Strong Profits May Be Masking Some Underlying Issues
Nov 23
Have your own idea? Try our Stock Screener
Japanese (NIKKEI) Paper and Forestry Products Industry Analysis
UpdatedNov 24, 2025
DataAggregated Company Financials
Companies15
- 7D-0.8%
- 3M-3.2%
- 1Y14.2%
- YTD9.5%
Over the last 7 days, the Paper and Forestry Products industry has remained flat, although notably Daio Paper declined by 4.3%. As for the the longer term, the industry is up 14% over the past 12 months. Looking forward, earnings are forecast to grow by 26% annually.
Industry Valuation and Performance
Has the Japanese Paper and Forestry Products Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Mon, 24 Nov 2025 | JP¥1.3t | JP¥4.5t | JP¥71.6b | 7.6x | 17.9x | 0.3x |
| Wed, 22 Oct 2025 | JP¥1.3t | JP¥4.6t | JP¥48.4b | 10.6x | 26.9x | 0.3x |
| Fri, 19 Sep 2025 | JP¥1.4t | JP¥4.6t | JP¥48.4b | 11.4x | 28.3x | 0.3x |
| Sun, 17 Aug 2025 | JP¥1.3t | JP¥4.6t | JP¥48.4b | 11x | 26.6x | 0.3x |
| Tue, 15 Jul 2025 | JP¥1.3t | JP¥4.5t | JP¥68.3b | 11.5x | 18.6x | 0.3x |
| Thu, 12 Jun 2025 | JP¥1.2t | JP¥4.5t | JP¥68.3b | 11.3x | 17.5x | 0.3x |
| Sat, 10 May 2025 | JP¥1.2t | JP¥4.5t | JP¥115.4b | 6x | 10.3x | 0.3x |
| Mon, 07 Apr 2025 | JP¥1.1t | JP¥4.5t | JP¥115.4b | 5.6x | 9.6x | 0.2x |
| Wed, 05 Mar 2025 | JP¥1.2t | JP¥4.5t | JP¥115.4b | 6.1x | 10.3x | 0.3x |
| Fri, 31 Jan 2025 | JP¥1.2t | JP¥4.4t | JP¥74.8b | 9.6x | 16.3x | 0.3x |
| Sun, 29 Dec 2024 | JP¥1.2t | JP¥4.4t | JP¥74.8b | 9.7x | 16.2x | 0.3x |
| Tue, 26 Nov 2024 | JP¥1.2t | JP¥4.4t | JP¥74.6b | 9.5x | 15.7x | 0.3x |
| Thu, 24 Oct 2024 | JP¥1.2t | JP¥4.4t | JP¥92.3b | 9x | 12.8x | 0.3x |
| Sat, 21 Sep 2024 | JP¥1.2t | JP¥4.4t | JP¥92.5b | 9.3x | 12.9x | 0.3x |
| Mon, 19 Aug 2024 | JP¥1.2t | JP¥4.4t | JP¥88.2b | 10.7x | 13.4x | 0.3x |
| Wed, 17 Jul 2024 | JP¥1.2t | JP¥4.4t | JP¥98.2b | 9.5x | 12x | 0.3x |
| Fri, 14 Jun 2024 | JP¥1.2t | JP¥4.4t | JP¥98.2b | 8.7x | 12.1x | 0.3x |
| Sun, 12 May 2024 | JP¥1.3t | JP¥4.4t | JP¥42.4b | 10.8x | 30.1x | 0.3x |
| Tue, 09 Apr 2024 | JP¥1.4t | JP¥4.4t | JP¥42.7b | 11.3x | 32.8x | 0.3x |
| Thu, 07 Mar 2024 | JP¥1.3t | JP¥4.4t | JP¥42.7b | 11.1x | 30.2x | 0.3x |
| Sat, 03 Feb 2024 | JP¥1.4t | JP¥4.6t | JP¥20.8b | 14.2x | 65x | 0.3x |
| Mon, 01 Jan 2024 | JP¥1.3t | JP¥4.6t | JP¥21.1b | 14.3x | 62.4x | 0.3x |
| Wed, 29 Nov 2023 | JP¥1.3t | JP¥4.6t | JP¥21.1b | 13.5x | 62.6x | 0.3x |
| Fri, 27 Oct 2023 | JP¥1.3t | JP¥4.6t | JP¥256.0m | 12.3x | 5273.3x | 0.3x |
| Sun, 24 Sep 2023 | JP¥1.4t | JP¥4.6t | JP¥430.0m | 12.8x | 3292.8x | 0.3x |
| Tue, 22 Aug 2023 | JP¥1.2t | JP¥4.6t | JP¥430.0m | 11.2x | 2890.8x | 0.3x |
| Thu, 20 Jul 2023 | JP¥1.2t | JP¥4.6t | JP¥763.0m | 9.3x | 1521.7x | 0.3x |
| Sat, 17 Jun 2023 | JP¥1.2t | JP¥4.6t | JP¥998.0m | 9.7x | 1206.9x | 0.3x |
| Mon, 15 May 2023 | JP¥1.2t | JP¥4.5t | JP¥36.7b | 8.8x | 31.4x | 0.3x |
| Wed, 12 Apr 2023 | JP¥1.1t | JP¥4.5t | JP¥37.6b | 8.7x | 30x | 0.3x |
| Fri, 10 Mar 2023 | JP¥1.2t | JP¥4.5t | JP¥37.6b | 9.3x | 31.2x | 0.3x |
| Sun, 05 Feb 2023 | JP¥1.1t | JP¥4.4t | JP¥72.4b | 8.8x | 14.8x | 0.2x |
| Tue, 03 Jan 2023 | JP¥1.1t | JP¥4.3t | JP¥92.4b | 7.6x | 11.7x | 0.2x |
| Thu, 01 Dec 2022 | JP¥1.1t | JP¥4.3t | JP¥92.4b | 7.2x | 11.8x | 0.3x |
Price to Earnings Ratio
11.8x
Current Industry PE
- Investors are pessimistic on the Japanese Forestry industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 17.9x which is lower than its 3-year average PE of 392x.
- The industry is trading close to its 3-year average PS ratio of 0.27x.
Past Earnings Growth
- The earnings for companies in the Forestry industry have declined 8.1% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Japanese Materials industry?
| JP Market | -1.67% | |
| Materials | -1.87% | |
| Paper and Forestry Products | -0.83% | |
| Paper Products | -0.80% | |
| Forestry Products | -2.35% | |
Industry PE
- Investors are most optimistic about the Paper Products industry which is trading above its 3-year average PE ratio of 8.2x.
- Analysts are expecting annual earnings growth of 26.3%, which is higher than its past year's earnings decline of 11.6% per year.
- Investors are most pessimistic about the Forestry Products industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the Paper Products industry, expecting annual earnings growth of 26% over the next 5 years.
- This is better than its past earnings decline of 12% per year.
- In contrast, the Paper Products industry is expected to see its earnings grow by 26% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| 3861 Oji Holdings | JP¥801.00 | 3.2% +JP¥22.6b | 42.0% | PE22.2x | |
| 3865 Hokuetsu | JP¥857.00 | 1.3% +JP¥1.9b | -45.2% | PE12.4x | |
| 3877 Chuetsu Pulp & Paper | JP¥1.78k | 2.7% +JP¥578.0m | 21.0% | PE31.9x | |
| 7800 AmifaLtd | JP¥635.00 | 3.8% +JP¥69.4m | 10.1% | PS0.2x |
