OHISHI SANGYO CO.,LTD.

Business Details

Manufactures and sells Pulp Mould Products (trays for eggs, industrial use, and fruits/vegetables, etc.), Corrugated Cardboard Products (for industrial and agricultural fields), Resin Moulded Products, and the suspended packaging container Yurikago. Main customers are in the industrial, food, and agricultural fields. The segment aims to enhance added value by providing environmentally friendly products aligned with a circular society, and in FY2026 (ending March 2026) achieved increased revenue and substantially higher profit driven by higher sales volume and revised selling prices.

Recent Overview

Higher sales volume and price revisions drove a 5.3% increase in net sales and a substantial 34.8% increase in segment profit

In FY2026 (ending March 2026), the Cushioning Materials Business achieved net sales of ¥11,638 million (up 5.3% year on year) and segment profit of ¥1,181 million (up 34.8% year on year). In the Pulp Mould division, increased egg tray demand from the recovery from avian influenza and steady performance of industrial trays contributed, while in the Corrugated Cardboard division, higher sales volumes in the industrial and agricultural fields contributed. Selling price revisions across the division also contributed to the increases in revenue and profit. Meanwhile, due to expanded capital expenditure, the increase in property, plant and equipment, etc. expanded to ¥2,851 million, approximately 2.5 times the prior-year level, as capacity expansion at the Ibaraki plant is underway.

Key Products

Growth Drivers

• Increased demand for commercial egg trays due to recovery from avian influenza
• Steady demand trend for industrial trays (for takeout drinks, etc.)
• Contribution to higher revenue from selling price revisions across the division
• Increased sales of corrugated cardboard products for the industrial and agricultural fields
• Strengthened supply capacity through capacity expansion at the Ibaraki plant (measure under the medium-term management plan "New Challenge 2027")
• Market rollout of "Paramil," a high-value-added product using proprietary technology
• Accelerating demand shift from petroleum-derived products to paper-based packaging (rising demand for environmentally friendly products amid heightened geopolitical risk)
• Expansion of sales in the industrial field through introduction of new technologies and equipment

Risks

• Impact on profitability from increased depreciation expenses accompanying expanded capital expenditure (FY2026 ending March 2026: ¥548 million, up 18.1% year on year)
• Profit pressure from continued increases in personnel expenses
• Risk of fluctuating demand for fruit/vegetable trays due to poor weather (such as poor apple harvests)
• Risk of fluctuating demand for egg trays due to diseases such as avian influenza
• Risk of raw material price fluctuations
• Risk of deteriorating business environment due to rising crude oil prices and supply-demand fluctuations in petroleum-related products
• Risk of continued decline in revenue in the Moulded Products division (down 4.0% year on year)