ASAHI PRINTING CO.,LTD.
3951・Standard Market・Pulp & Paper
Printing & Packaging Materials Business
Core group business engaged in the manufacture and sale of printing and packaging materials for pharmaceuticals and cosmetics
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales (Full Year, FY2026 ending March 2026) | ¥39,995 million | ¥40,260 million | ↓ |
| Segment Profit (Gross Profit Basis) (Full Year, FY2026 ending March 2026) | ¥8,909 million | ¥9,256 million | ↓ |
| Net Sales YoY Change (Full Year, FY2026 ending March 2026) | -0.7% | — | ↓ |
| Segment Profit YoY Change (Full Year, FY2026 ending March 2026) | -3.7% | — | ↓ |
Business Details
In addition to Asahi Printing Co., Ltd. itself, manufacturing and sales are handled by Sakamoto Printing Co., Ltd., NIPPO Co., Ltd., Harleigh (Malaysia) Sdn. Bhd., Shin-Nippon Industries Sdn. Bhd., and Kinta Press & Packaging (M) Sdn. Bhd. The segment's core products are pharmaceutical packaging, package inserts, and labels, as well as packaging materials for cosmetics, with domestic and overseas pharmaceutical and cosmetics manufacturers as customers. It accounted for approximately 89% of consolidated net sales (on an external customer sales basis) in FY2026 (ending March 2026), and manufacturing capability and quality control leveraging domestic and overseas production bases are the source of competitive advantage.
Recent Overview
Decline in both revenue and profit due to sluggish orders for China, while domestic pharmaceutical and cosmetics demand remained largely flat
For the full year of FY2026 (ending March 2026), the Printing & Packaging Materials Business recorded net sales of ¥39,995 million (down 0.7% year on year) and segment profit of ¥8,909 million (down 3.7% year on year), representing a decline in both revenue and profit. Domestically, orders for pharmaceutical and cosmetics products remained solid, and productivity improvement measures were also effective; however, rising raw material procurement costs, wage increases, and higher fixed costs including increased depreciation associated with plant restructuring pressured profits. Overseas, orders for products destined for China, which had been strong in the prior year, remained weak throughout the year without recovering, becoming the main cause of the decline in both revenue and profit. In addition, in July 2025, the Company acquired additional shares of NIPPO Co., Ltd. for ¥364 million, aiming to improve group management efficiency.
Key Products
Growth Drivers
- Steady trend in domestic orders for pharmaceutical and cosmetics products (continued certain level of demand for both pharmaceutical- and cosmetics-related products)
- Advancement of the expansion strategy for the "label business" and "overseas business" under the Medium-Term Management Plan 2030
- Enhancement of overseas production capacity through the new plant construction project at Shin-Nippon Industries Sdn. Bhd.
- Profit improvement through productivity enhancement measures (introduction of labor-saving and workforce-reduction equipment, visualization of operations utilizing IoT)
- Enhanced intra-group synergies and management efficiency through the additional acquisition of NIPPO Co., Ltd.
- Strengthened response to sustainable products and services through environmental initiatives (printing technology with reduced waste ink, use of recycled paper, etc.)
Risks
- Rising cost-of-sales ratio due to continued surges in raw material prices
- Structural decline in demand for pharmaceutical package inserts due to progress in digitalization of medical package inserts
- Continued weakness in export orders for China and uncertainty over recovery
- Rising fixed costs such as increased depreciation associated with wage increases and plant restructuring
- Impact on overseas operations (particularly China and Malaysia) from prolonged geopolitical risk
- Fluctuations in inbound demand due to changes in consumption behavior of foreign visitors to Japan
Last updated: June 19, 2026