TOMOKU CO., LTD.
3946・Prime Market・Pulp & Paper
Corrugated Cardboard
Tomoku Group's core segment, accounting for approximately 56% of consolidated net sales.
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales (Full Year, FY2026 (ending March 2026)) | ¥124,628 million | ¥119,676 million | ↑ |
| Operating Income (Full Year, FY2026 (ending March 2026)) | ¥10,455 million | ¥8,592 million | ↑ |
| Operating Margin (Full Year, FY2026 (ending March 2026)) | 8.4% | 7.2% | ↑ |
| Segment Assets (End of FY2026 (ending March 2026)) | ¥141,511 million | ¥128,608 million | ↑ |
| Depreciation (Full Year, FY2026 (ending March 2026)) | ¥6,320 million | ¥5,951 million | ↑ |
| Increase in Property, Plant, Equipment and Intangible Assets (Full Year, FY2026 (ending March 2026)) | ¥9,019 million | ¥5,526 million | ↑ |
Business Details
Manufactures and sells corrugated sheets, corrugated cases, and printed paper containers. Domestically, the segment mainly serves the processed foods sector, operating a production and sales network in cooperation with multiple subsidiaries including Nichiei Shiko Co., Ltd. and Enshu Shiko Co., Ltd. Overseas, the company has manufacturing and sales bases in the US (Southland Box Company) and Vietnam (Tomoku Vietnam Co., Ltd.). The effect of product price revisions raised selling prices, significantly improving profit margins.
Recent Overview
Achieved a significant increase in profit due to the price revision effect, with net sales up 4.1% and operating income up 21.7%.
In the Corrugated Cardboard division for FY2026 (ending March 2026), net sales were ¥124,628 million (up 4.1% year on year) and operating income was ¥10,455 million (up 21.7% year on year). Domestic sales volume fell below the prior year due to a decline in demand from the processed foods sector, but the effect of product price revisions raised selling prices, significantly improving profitability. The introduction of a state-of-the-art high-speed printing press at the Kyushu plant, the commencement of operations at Taiyo Co., Ltd.'s new Isehara plant, and the consolidation of Nichiei Shiko Co., Ltd. and Enshu Shiko Co., Ltd. all contributed. Overseas, the US subsidiary saw a decline in demand due to the impact of trade policy.
Key Products
Growth Drivers
- Higher selling prices and improved profit margins due to the effect of product price revisions
- Substantially increased production capacity through the introduction of a state-of-the-art high-speed printing press at the Kyushu plant
- Establishment of a stable production and supply system in Kanagawa Prefecture through the commencement of operations at Taiyo Co., Ltd.'s new Isehara plant
- Expanded business scale through the inclusion of Nichiei Shiko Co., Ltd. and Enshu Shiko Co., Ltd. in the scope of consolidation
- Competitiveness of high-quality, high-value-added products, exemplified by winning the most awards (six) among domestic companies at the WorldStar Awards 2026
- Policy of further focus on the overseas business (Vietnam), which is expected to grow
- Continued sales activities emphasizing profit margins
Risks
- Risk of declining demand at the US subsidiary due to US trade policy (tariffs, etc.)
- Sluggish domestic demand for corrugated cardboard (decline in demand from processed foods and fruits/vegetables sectors)
- Profit pressure from rising costs of raw materials, labor, and energy
- Risk of rising prices for crude oil, naphtha, gas oil, and other energy and petrochemical raw materials due to a blockade of the Strait of Hormuz or similar events
- Geopolitical risk and foreign exchange fluctuation risk in overseas operations (US and Vietnam)
- Cash flow burden associated with increased capital expenditure (increase in property, plant and equipment, etc. of ¥9,019 million)
Last updated: June 22, 2026