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Heiwa Paper Co.,Ltd. logo

Heiwa Paper Co.,Ltd.

9929.T

JPXBasic MaterialsPaper, Lumber & Forest Products

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Latest quote

¥469

−¥5.00 · -1.05%

Aug 24, 1:00 PM JSTData delayed

9929.T company overview

Regular session · JST · Market data may be delayed.

Company profile

Company website

Heiwa Paper Co., Ltd., founded in 1946 and based in Tokyo, Japan, operates as a global paper trading enterprise. The company's activities involve the import, development, sale, and export of a diverse array of paper types. Its portfolio encompasses specialty, high-grade, and industrial papers, as well as various other paper materials like decorative papers, fine boards, printing papers, and basic paper stock. Beyond trade, Heiwa Paper is also committed to the innovation and market commercialization of new paper products.

Industry
Paper, Lumber & Forest Products
Sector
Basic Materials
Headquarters
JP
CEO
Yoshio Seike
Listed since
Apr 4, 2000
Employees
188

Market position

Volume
7.5K
4.76× average
Average volume
1.58K
Average daily volume
Market cap
4.34B JPY
Beta
0.2
Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
3.87B JPY
EV / EBITDA
15.36×
Earnings yield
1.85%
Free cash flow yield
12.52%

Profitability & efficiency

Return on equity
0.77%
Return on assets
0.44%
Return on invested capital
0.27%

Financial health

Current ratio
1.64×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends22%14%6%-2%Gross margin, FY2021: 18.08%Gross margin, FY2022: 19.50%Gross margin, FY2023: 19.69%Gross margin, FY2024: 19.42%Gross margin, FY2025: 19.62%Operating margin, FY2021: 1.04%Operating margin, FY2022: 0.86%Operating margin, FY2023: 0.98%Operating margin, FY2024: 0.89%Operating margin, FY2025: 0.41%Net margin, FY2021: 0.56%Net margin, FY2022: 5.44%Net margin, FY2023: 0.85%Net margin, FY2024: 0.73%Net margin, FY2025: 0.50%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 18.08%. Gross margin FY2022 19.50%. Gross margin FY2023 19.69%. Gross margin FY2024 19.42%. Gross margin FY2025 19.62%. Operating margin FY2021 1.04%. Operating margin FY2022 0.86%. Operating margin FY2023 0.98%. Operating margin FY2024 0.89%. Operating margin FY2025 0.41%. Net margin FY2021 0.56%. Net margin FY2022 5.44%. Net margin FY2023 0.85%. Net margin FY2024 0.73%. Net margin FY2025 0.50%.

Income trends

Revenue

15.8B JPY-1.47%

Operating income

64.01M JPY-55.14%

Net income

78.63M JPY-32.81%
Income trends across reported periods17.73B JPY11.31B JPY4.88B JPY−1.54B JPYRevenue, FY2021: 15.62B JPYRevenue, FY2022: 16.07B JPYRevenue, FY2023: 16.12B JPYRevenue, FY2024: 16.03B JPYRevenue, FY2025: 15.8B JPYOperating income, FY2021: 161.69M JPYOperating income, FY2022: 138.34M JPYOperating income, FY2023: 158.05M JPYOperating income, FY2024: 142.68M JPYOperating income, FY2025: 64.01M JPYNet income, FY2021: 87.26M JPYNet income, FY2022: 874.8M JPYNet income, FY2023: 136.33M JPYNet income, FY2024: 117.03M JPYNet income, FY2025: 78.63M JPYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 15.62B JPY. Revenue FY2022 16.07B JPY. Revenue FY2023 16.12B JPY. Revenue FY2024 16.03B JPY. Revenue FY2025 15.8B JPY. Operating income FY2021 161.69M JPY. Operating income FY2022 138.34M JPY. Operating income FY2023 158.05M JPY. Operating income FY2024 142.68M JPY. Operating income FY2025 64.01M JPY. Net income FY2021 87.26M JPY. Net income FY2022 874.8M JPY. Net income FY2023 136.33M JPY. Net income FY2024 117.03M JPY. Net income FY2025 78.63M JPY.
Metric (JPY)FY2025FY2024FY2023FY2022FY2021
Revenue15.8B JPY16.03B JPY16.12B JPY16.07B JPY15.62B JPY
Cost of goods sold12.7B JPY12.92B JPY12.95B JPY12.94B JPY12.8B JPY
Gross profit3.1B JPY3.11B JPY3.18B JPY3.13B JPY2.82B JPY
Selling, general, and administrative3B JPY2.97B JPY3.02B JPY2.99B JPY2.66B JPY
Operating expenses3.04B JPY2.97B JPY3.02B JPY2.99B JPY2.66B JPY
Interest income3.32M JPY3.27M JPY5.33M JPY4.7M JPY4.54M JPY
Interest expense24.77M JPY25.94M JPY20.9M JPY14.29M JPY6.39M JPY
Depreciation and amortization187.85M JPY162.1M JPY114.46M JPY102.76M JPY101.21M JPY
Operating income64.01M JPY142.68M JPY158.05M JPY138.34M JPY161.69M JPY
Net income78.63M JPY117.03M JPY136.33M JPY874.8M JPY87.26M JPY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
2.43

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates4.962.820.67-1.47Q4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26Q3 '26
Q4 2024, reported Nov 13, 2024: actual 3.09, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 13, 2025: actual 4.52, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 13, 2025: actual 3.78, estimate —, surprise —, Comparison unavailable. Q3 2025, reported Aug 8, 2025: actual -1.03, estimate —, surprise —, Comparison unavailable. Q4 2025, reported Nov 11, 2025: actual 1.03, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 12, 2026: actual 4.39, estimate —, surprise —, Comparison unavailable. Q2 2026, reported May 13, 2026: actual 3.99, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 10, 2026: actual 2.43, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates561.31B375.26B189.21B3.16BQ4 '24No estimateQ1 '25No estimateQ2 '25MissQ3 '25MissQ4 '25No estimateQ1 '26MissQ2 '26No estimateQ3 '26No estimate
Q4 2024, reported Nov 13, 2024: actual 3.95B JPY, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Feb 13, 2025: actual 4.25B JPY, estimate —, surprise —, Comparison unavailable. Q2 2025, reported May 13, 2025: actual 4.07B JPY, estimate 513.1B JPY, surprise -99.21%, Miss. Q3 2025, reported Aug 8, 2025: actual 3.72B JPY, estimate 520B JPY, surprise -99.28%, Miss. Q4 2025, reported Nov 11, 2025: actual 3.85B JPY, estimate —, surprise —, Comparison unavailable. Q1 2026, reported Feb 12, 2026: actual 4.03B JPY, estimate 507.65B JPY, surprise -99.21%, Miss. Q2 2026, reported May 13, 2026: actual 4.19B JPY, estimate —, surprise —, Comparison unavailable. Q3 2026, reported Aug 10, 2026: actual 3.93B JPY, estimate —, surprise —, Comparison unavailable.

Corporate actions

Annual dividends per share

Cash distributions grouped by calendar year; partial years are marked.

¥12.00

2025 complete year+20.0% since 2021

2026 partial: ¥6.00

* Partial calendar year in the available dividend history.

Corporate action history

DividendUpcoming

Ex-dividend Sep 29, 2026

¥6.00

Semi-Annual

Record Sep 30, 2026 · Payment Sep 29, 2026

DividendUpcoming

Ex-dividend Mar 30, 2027

¥6.00

Semi-Annual

Record Mar 31, 2027 · Payment Mar 30, 2027

Dividend

Ex-dividend Mar 30, 2026

¥6.00

Semi-Annual

Record Mar 31, 2026 · Payment Jun 26, 2026

Dividend

Ex-dividend Sep 29, 2025

¥6.00

Semi-Annual

Record Sep 30, 2025 · Payment Dec 1, 2025

Dividend

Ex-dividend Mar 28, 2025

¥6.00

Semi-Annual

Record Mar 31, 2025 · Payment Jun 27, 2025

Dividend

Ex-dividend Sep 27, 2024

¥6.00

Semi-Annual

Record Sep 30, 2024 · Payment Dec 3, 2024

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