Superbag Company, Limited
3945・Standard Market・Pulp & Paper
Paper Products Business
Core group business. Manufacturing and sale of paper bags and paper containers, accounting for approximately 54% of net sales.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment net sales | ¥15,248 million | ¥15,239 million | — |
| Segment profit (operating income) | ¥1,085 million | ¥1,266 million | ↓ |
| Segment operating margin | 7.1% | 8.3% | ↓ |
| Segment assets | ¥5,964 million | ¥5,680 million | ↑ |
| Capital expenditures (increase in tangible and intangible fixed assets) | ¥474 million | ¥251 million | ↑ |
| Depreciation and amortization | ¥233 million | ¥183 million | ↑ |
Business Details
A core segment centered on paper carrier bags, square-bottom bags, home delivery bags, and paper containers as flagship products, capturing packaging material demand from brick-and-mortar retail stores and e-commerce operators. Shanghai Superbag Packaging Materials Co., Ltd. was excluded from consolidation, consolidating the production structure domestically. Demand is expanding against a backdrop of growing inbound consumption, e-commerce market growth, and heightened environmental awareness, and the Second Medium-Term Management Plan positions "focus on the Paper Products Business" as the most important strategy.
Recent Overview
Net sales increased slightly, but profit decreased by ¥180 million year on year due to equipment maintenance and cost increases.
In FY2026 (ending March 2026), the Paper Products Business maintained flat net sales of ¥15,248 million (up ¥8 million year on year) through expanded sales into key target markets centered on home delivery bags and paper containers. On the other hand, segment profit deteriorated significantly to ¥1,085 million (down ¥180 million year on year). The main causes were increased costs for raw materials and labor, combined with a decline in factory profit margins due to recording of production equipment upgrade expenses and maintenance work. Capital expenditures increased substantially to ¥474 million from ¥251 million in the prior period, reflecting an active investment phase aimed at expanding production capacity. In addition, Shanghai Superbag Packaging Materials Co., Ltd. was excluded from consolidation, advancing the consolidation of the domestic production structure.
Key Products
Growth Drivers
- Expanding demand for packaging materials at brick-and-mortar stores driven by rising inbound consumption
- Increased demand for paper-based delivery materials driven by e-commerce market growth and heightened environmental awareness
- Strengthened sales expansion into key target markets (home delivery bags, paper containers)
- Concentration of management resources on the Paper Products Business under the Second Medium-Term Management Plan
- Expansion of production capacity and profitability through active capital investment
Risks
- Cost increases and declining gross margin due to persistently high raw material prices
- Rising logistics costs and labor costs
- Profit pressure from delayed appropriate pass-through of prices to selling prices
- Declining factory profit margins due to increased costs for maintenance and upgrading of production equipment
- Impact of foreign exchange rate fluctuations on procurement costs
- Risk of reduced orders from some customers
Last updated: June 25, 2026