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Mitsubishi Paper Mills
(3864)
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Rating:54Neutral
Price Target:
¥1,271.00
▲(4.78% Upside)
Action:Reiterated
Date:10/22/26
The score is held back primarily by weakening profitability in 2026 and inconsistent cash-flow generation, despite an improving leverage profile. Technicals are a meaningful offset, with price trading above key moving averages and positive MACD. Valuation is broadly reasonable but not compelling enough to fully counter the fundamental softness.
Positive Factors
Improved Leverage
The substantial reduction in leverage and increase in equity provide Mitsubishi Paper Mills with a more stable capital structure than in earlier years. This improves financial resilience and preserves greater flexibility to manage cyclical demand, fund operations, and pursue growth while profitability recovers.
Negative Factors
Sharp Profitability Decline
The latest results show a material deterioration in earnings power, with revenue contraction and operating profit approaching breakeven. Such thin profitability leaves limited room to absorb weaker volumes or cost pressure and makes sustained earnings recovery an important requirement for the business.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved Leverage
The substantial reduction in leverage and increase in equity provide Mitsubishi Paper Mills with a more stable capital structure than in earlier years. This improves financial resilience and preserves greater flexibility to manage cyclical demand, fund operations, and pursue growth while profitability recovers.
Read all positive factors
Mitsubishi Paper Mills (3864) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥53.74B
Dividend Yield1.77%
Average Volume (3M)105.47K
Price to Earnings (P/E)13.5
Beta (1Y)0.70
Revenue Growth-8.09%
EPS Growth76.25%
CountryJP
Employees2,513
SectorBasic Materials
Sector Strength58
IndustryPaper, Lumber & Forest Products
Share Statistics
EPS (TTM)122.63
Shares Outstanding44,741,432
10 Day Avg. Volume99,340
30 Day Avg. Volume105,473
Financial Highlights & Ratios
PEG Ratio-0.34
Price to Book (P/B)0.35
Price to Sales (P/S)0.23
P/FCF Ratio23.56
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)69.7
Revenue Forecast (FY)¥186.00B
Mitsubishi Paper Mills Business Overview & Revenue Model
Company Description
Mitsubishi Paper Mills Limited (MPML), headquartered in Tokyo, Japan, was founded in 1898 and initially known as Mitsubishi Paper Mills Company before adopting its current name in November 1917. Through its various subsidiaries, MPML engages globa...
How the Company Makes Money
The company primarily makes money by manufacturing and selling paper and specialty material products to corporate customers through its domestic and overseas sales channels. Key revenue streams generally include (1) sales of paper products (e.g., ...
Mitsubishi Paper Mills Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
56
Neutral
Cash Flow
42
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 156.61B | 157.46B | 175.94B | 193.46B | 209.54B | 181.92B |
| Gross Profit | 21.36B | 20.24B | 25.16B | 28.15B | 27.25B | 25.77B |
| EBITDA | 7.31B | 5.79B | 10.95B | 13.14B | 9.26B | 8.24B |
| Net Income | 5.38B | 1.90B | 4.34B | 4.17B | -570.00M | 1.10B |
Balance Sheet | ||||||
| Total Assets | 224.56B | 222.78B | 208.22B | 235.38B | 227.06B | 215.88B |
| Cash, Cash Equivalents and Short-Term Investments | 5.51B | 4.89B | 6.24B | 10.01B | 8.32B | 9.05B |
| Total Debt | 68.81B | 64.92B | 72.33B | 85.06B | 100.17B | 93.36B |
| Total Liabilities | 121.00B | 119.58B | 122.93B | 144.42B | 155.01B | 146.26B |
| Stockholders Equity | 103.53B | 103.15B | 85.26B | 90.93B | 72.03B | 69.61B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | 1.53B | 2.23B | 11.80B | -7.27B | -4.56B |
| Operating Cash Flow | 0.00 | 5.22B | 4.85B | 13.49B | -2.72B | 1.70B |
| Investing Cash Flow | 0.00 | 1.60B | 4.80B | 3.83B | -3.56B | -2.56B |
| Financing Cash Flow | 0.00 | -8.30B | -13.40B | -16.26B | 5.21B | -6.09B |
Mitsubishi Paper Mills Technical Analysis
Positive
1213.00
Price Trends
1194.79
Positive
1131.67
Positive
971.60
Positive
Market Momentum
11.56
Positive
56.13
Neutral
51.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3864, the sentiment is Positive. The current price of 1213 is below the 20-day moving average (MA) of 1229.15, above the 50-day MA of 1194.79, and above the 200-day MA of 971.60, indicating a bullish trend. The MACD of 11.56 indicates Positive momentum. The RSI at 56.13 is Neutral, neither overbought nor oversold. The STOCH value of 51.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:3864.
Mitsubishi Paper Mills Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | ¥78.64B | 16.24 | ― | 4.38% | -0.03% | 30.67% | |
62 Neutral | ¥710.98B | 11.75 | 5.99% | 4.36% | 0.22% | 208.36% | |
62 Neutral | ¥133.07B | 20.69 | 2.61% | 3.11% | -5.23% | -55.21% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | ¥53.74B | 13.46 | 4.37% | 1.62% | -8.09% | 76.25% | |
54 Neutral | ¥147.07B | 15.28 | 1.94% | 1.17% | 2.22% | 27.47% | |
52 Neutral | ¥160.89B | 20.10 | 3.48% | 1.43% | 1.33% | ― |
* Basic Materials Sector Average
JP:3864
Mitsubishi Paper Mills
1,241.00
593.82
91.75%
JP:3863
Nippon Paper
1,295.00
109.89
9.27%
JP:3861
Oji Holdings
830.30
49.78
6.38%
JP:3865
Hokuetsu Corporation
840.00
-119.65
-12.47%
JP:3880
Daio Paper Corporation
979.00
107.09
12.28%
JP:3708
Tokushu Tokai Paper Co., Ltd.
2,164.00
655.96
43.50%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.