HIKARI BUSINESS FORM CO., LTD.

3948・Standard Market・Pulp & Paper

Official website

HIKARI BUSINESS FORM CO., LTD.

3948・Standard Market・Pulp & Paper

Official website

HIKARI BUSINESS FORM CO., LTD.3948

Reference Indicators

Market Cap

67¥100M

P/E (Forecast)

—

P/B

0.7x

Dividend Yield (Forecast)

4.37%

ROE

1.6%

EV/EBITDA

8.4x

Financial Summary

Unit: ¥M

Item	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Net Sales	9,565	11,994	9,876	7,915	7,743
Cost of Sales	7,034	8,548	7,152	6,301	6,092
Gross Profit	2,530	3,446	2,724	1,614	1,651
SG&A Expenses	1,330	1,477	1,453	1,435	1,448
Operating Income	1,199	1,968	1,270	178	202
Non-operating Income	52	34	51	52	90
Non-operating Expenses	23	27	13	9	11
Ordinary Income	1,229	1,975	1,308	221	280
Extraordinary Income	41	0	24	44	9
Extraordinary Losses	62	113	231	—	31
Pre-tax Income	1,208	1,861	1,101	265	258
Income Taxes	388	589	353	104	107
Net Income	819	1,272	748	161	151
EBITDA	1,512	2,263	1,510	542	396
Gross Margin	26.5%	28.7%	27.6%	20.4%	21.3%
Operating Margin	12.5%	16.4%	12.9%	2.3%	2.6%
ROA	7.6%	10.7%	6.6%	1.5%	1.3%
ROE	10.8%	15.1%	8.2%	1.7%	1.6%