Hokuetsu Corporation logo

Hokuetsu Corporation

3865.T

JPXBasic MaterialsPaper, Lumber & Forest Products

Latest quote

¥900

−¥5.00 · -0.55%

Aug 24, 1:29 PM JST

3865.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Hokuetsu Corporation, founded in Tokyo, Japan, in 1907, is a global producer and supplier of an extensive range of paper and paperboard products. The company's reach extends across Japan, the United States, China, the wider Asian region, and other international markets. Its operations are bifurcated into two primary divisions: the Paper and Pulp Business and the Packaging and Paper Processing Business. Within its Paper and Pulp segment, Hokuetsu offers a broad portfolio. This includes printing and communication papers suitable for books, magazines, catalogs, and brochures, alongside uncoated and colored wood-free paper varieties. The company also furnishes specialized paperboards such as white paperboard, coated duplex board, and cast-coated paper, which are utilized for diverse applications including packaging, catalogs, point-of-purchase advertising, postcards, and publication covers. Further products from this division encompass premium and fancy printing papers, industrial papers, unique processed items, specialty fiber boards, decorative and functional papers, timber products, and glass fiber sheets. The Packaging and Paper Processing division focuses on various packaging solutions. These include cartons for food, beverages, and other liquids, in addition to confectionery boxes. They also supply processed paper tailored for cosmetics and over-the-counter pharmaceutical packaging, and produce milk and drink cartons under their "Tohei Pak" brand. Other offerings in this segment comprise adhesive postcard papers, abrasive-coated base papers, chip carrier tape base paper, mark sheet paper, business forms, and communication media products. Beyond its core manufacturing, Hokuetsu Corporation engages in several ancillary activities, such as waste paper wholesale, construction, transportation, warehousing, investment, and data processing services. The company rebranded to Hokuetsu Corporation in July 2018, having previously been known as Hokuetsu Kishu Paper Co., Ltd.

Industry
Paper, Lumber & Forest Products
Sector
Basic Materials
Headquarters
JP
CEO
Sekio Kishimoto
Listed since
Jan 4, 2000
Employees
3,728

Market position

Day range

Current ¥900

52-week range

Current ¥900

Open
¥909
Previous close
¥905
Volume
124.3K
0.43× average
Average volume
291.68K
Average daily volume
Market cap
142.92B JPY
Beta
0.25
Market reference 1
50-day average
¥906.28
-0.69% below average
200-day average
¥911.28
-1.24% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
220.28B JPY
P/E (TTM)
22.02×
P/B (TTM)
0.57×
P/S (TTM)
0.5×
EV / EBITDA
8.35×
Earnings yield
4.77%
Free cash flow yield
-5.27%
Dividend yield
2.89%

Profitability & efficiency

Gross margin
18.66%
Operating margin
1.73%
Net margin
2.34%
Return on equity
2.90%
Return on assets
1.74%
Return on invested capital
1.26%

Financial health

Debt / equity
0.42×
Current ratio
2.13×
Altman Z-score
2
Piotroski F-score
3 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends25%17%9%0%Gross margin, FY2021: 23.36%Gross margin, FY2022: 21.25%Gross margin, FY2023: 20.25%Gross margin, FY2024: 22.50%Gross margin, FY2025: 19.62%Operating margin, FY2021: 7.72%Operating margin, FY2022: 5.74%Operating margin, FY2023: 5.14%Operating margin, FY2024: 6.45%Operating margin, FY2025: 2.48%Net margin, FY2021: 8.11%Net margin, FY2022: 2.76%Net margin, FY2023: 2.82%Net margin, FY2024: 5.08%Net margin, FY2025: 2.54%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 23.36%. Gross margin FY2022 21.25%. Gross margin FY2023 20.25%. Gross margin FY2024 22.50%. Gross margin FY2025 19.62%. Operating margin FY2021 7.72%. Operating margin FY2022 5.74%. Operating margin FY2023 5.14%. Operating margin FY2024 6.45%. Operating margin FY2025 2.48%. Net margin FY2021 8.11%. Net margin FY2022 2.76%. Net margin FY2023 2.82%. Net margin FY2024 5.08%. Net margin FY2025 2.54%.

Income trends

Revenue

287.74B JPY-5.88%

Operating income

7.13B JPY-63.87%

Net income

7.3B JPY-53.00%
Income trends across reported periods335.58B JPY216.14B JPY96.7B JPY−22.73B JPYRevenue, FY2021: 261.62B JPYRevenue, FY2022: 301.2B JPYRevenue, FY2023: 297.06B JPYRevenue, FY2024: 305.72B JPYRevenue, FY2025: 287.74B JPYOperating income, FY2021: 20.21B JPYOperating income, FY2022: 17.29B JPYOperating income, FY2023: 15.27B JPYOperating income, FY2024: 19.73B JPYOperating income, FY2025: 7.13B JPYNet income, FY2021: 21.21B JPYNet income, FY2022: 8.33B JPYNet income, FY2023: 8.39B JPYNet income, FY2024: 15.53B JPYNet income, FY2025: 7.3B JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 261.62B JPY. Revenue FY2022 301.2B JPY. Revenue FY2023 297.06B JPY. Revenue FY2024 305.72B JPY. Revenue FY2025 287.74B JPY. Operating income FY2021 20.21B JPY. Operating income FY2022 17.29B JPY. Operating income FY2023 15.27B JPY. Operating income FY2024 19.73B JPY. Operating income FY2025 7.13B JPY. Net income FY2021 21.21B JPY. Net income FY2022 8.33B JPY. Net income FY2023 8.39B JPY. Net income FY2024 15.53B JPY. Net income FY2025 7.3B JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue287.74B JPY305.72B JPY297.06B JPY301.2B JPY261.62B JPY
Cost of goods sold231.28B JPY236.92B JPY236.91B JPY237.19B JPY200.49B JPY
Gross profit56.46B JPY68.8B JPY60.15B JPY64.02B JPY61.13B JPY
Research and development805M JPY745M JPY702M JPY614M JPY
Selling, general, and administrative48.92B JPY48.27B JPY44.14B JPY46.03B JPY40.3B JPY
Operating expenses49.33B JPY49.07B JPY44.88B JPY46.73B JPY40.92B JPY
Interest income435M JPY826M JPY788M JPY128M JPY27M JPY
Interest expense865M JPY766M JPY841M JPY796M JPY393M JPY
Depreciation and amortization14.01B JPY13.31B JPY13.02B JPY12B JPY13.35B JPY
Operating income7.13B JPY19.73B JPY15.27B JPY17.29B JPY20.21B JPY
Net income7.3B JPY15.53B JPY8.39B JPY8.33B JPY21.21B JPY

Company facts updated Aug 24, 2026.

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