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Oji Holdings (3861) Price & Analysis
3861 Stock Chart & Stats
- Day’s Range
- JPY 810.00 - JPY 818.20
- 52-Week Range
- JPY 753.20 - JPY 990.70
- Previous Close
- JPY 809.10
- Volume
- 3.12M
- Average Volume (3M)
- 3.52M
- Market Cap
- JPY 694.50B
- Enterprise Value
- JPY 1.68T
- Total Cash (Recent Filing)
- JPY 69.10B
- Total Debt (Recent Filing)
- JPY 948.67B
- Price to Earnings (P/E)
- 11.5
- Beta
- 0.56
- Next Earnings
- Nov 06, 2026
- EPS Estimate
- N/A
- Next Dividend Ex-Date
- Mar 30, 2027
- Dividend Yield
- 4.40%
Bulls Say, Bears Say
Bulls Say
Diversified Paper, Packaging And Forestry Operations
Exposure across paper, packaging, consumer products and forestry gives Oji Holdings multiple demand channels and supply-chain capabilities. This diversification can reduce reliance on one end market and support resilience as product mix shifts toward packaging and other value-added applications.
Substantial Equity Base Supports Financial Resilience
A sizable equity base provides a durable capital cushion for a cyclical, asset-intensive manufacturing group. It can absorb earnings volatility and help fund maintenance or strategic investment, although the benefit is moderated by the company’s meaningful and rising debt burden.
Operating Cash Flow Remains Structurally Positive
Positive operating cash flow across the reported period indicates that the core businesses generally generate cash, despite year-to-year volatility. The improvement in 2026 supports ongoing operating needs and debt service, while also providing a base for investment when working-capital conditions normalize.
Bears Say
Persistent Margin And Earnings Compression
The decline from 2022 profitability levels indicates weaker operating leverage and less stable earnings power. If pricing, product mix or input-cost recovery remain challenging, sustained margin pressure could limit reinvestment capacity and reduce the benefit of revenue growth.
Unreliable Free Cash Flow Conversion
Large swings in free cash flow make internally funded growth and shareholder distributions less predictable. Repeated negative periods may reflect heavy capital spending or working-capital demands, increasing reliance on financing and reducing flexibility during weaker operating conditions.
Rising Leverage And Declining Returns On Equity
Higher debt relative to equity increases fixed financial commitments and limits flexibility compared with stronger balance sheets. At the same time, lower ROE shows weaker profit generation from the expanding asset base, making deleveraging and productive capital allocation more important.
Oji Holdings News
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Company Description
Oji Holdings
Oji Holdings Corporation, a prominent Japanese conglomerate, operates globally across the pulp and paper sector. Its diverse business activities are structured into four key segments. The Household and Industrial Materials division delivers a wide array of products, from containerboards, corrugated packaging, and various paper bags to household essentials like tissue paper, toilet rolls, kitchen towels, wet wipes, and even disposable diapers and face masks. Within the Functional Materials segment, the company produces specialty papers, thermal papers, adhesive solutions, and films. Its Forest Resources and Environment Marketing division oversees forestry plantations, timber processing, and pulp production, alongside providing energy, fuels, chemicals, and broader material procurement services. The Printing and Communications Media division focuses on manufacturing papers for newsprint, general printing, publications, and communication purposes. Additionally, Oji Holdings has vested interests in real estate, engineering, trading, and logistics ventures. Founded in 1873 as Oji Paper Co., Ltd., the company rebranded as Oji Holdings Corporation in October 2012 and maintains its headquarters in Tokyo, Japan.
- Sector
- Basicmaterials
- Industry
- Paper, Lumber & Forest Products
- CEO
- Hiroyuki Isono
- Employees
- 38,757
- Website
- www.ojiholdings.co.jp
- Address
- 7-5, Ginza 4-chome, Tokyo, TY, 104-0061, JP
Oji Holdings (3861) Earnings & Revenues
Technical Analysis
Overall Consensus
| Indicator | Bullish | Neutral | Bearish |
|---|---|---|---|
| Overall Consensus | 5 | 3 | 14 |
| Technical Analysis | 5 | 3 | 2 |
| Moving Averages | 0 | 0 | 12 |






