MITSUMURA PRINTING CO., LTD.
7916・Standard Market・Other Products
Business
Mitsumura Printing is a long-established comprehensive printing company founded in 1901. Comprising the company and 7 subsidiaries, its core business is the Printing Business (approximately 94% of consolidated net sales), which handles publishing materials, promotional printed materials, packaging, newspapers, and other products. The company operates three segments: the Printing Business; the Industrial Materials & Electronic Components Manufacturing Business, which utilizes screen printing and etching technologies (jigs for automotive and semiconductor applications, etc.); and the Real Estate Leasing, etc. Business, involving office buildings and land in Tokyo. Major customers include The Yomiuri Shimbun Tokyo Head Office (26.8% of net sales) and Yamato Transport (12.9% of net sales). Listed on the Standard Market of the Tokyo Stock Exchange.
Business Model
In the Printing Business, the company manufactures publishing, commercial, and newspaper printed materials on an order basis, aiming to improve profitability through consolidation at the Sayama Plant to raise the in-house production ratio and through price optimization negotiations. In the Industrial Materials & Electronic Components Manufacturing Business, the company manufactures and sells precision products utilizing screen printing and etching technologies. In the Real Estate Leasing, etc. Business, the company generates stable income through leasing of real estate it owns in Tokyo and through electricity sales from solar power generation on the Nasu Plant site, supporting overall group earnings as the only segment with an operating profit within the group.
Company Strengths
Since its founding in 1901, the company has built strengths in quality, aesthetics, and color reproduction centered on offset printing technology. It made Shinmura Printing, which handles packaging materials for pharmaceuticals and OTC drugs, a subsidiary in 2018, actively allocating management resources to the medical paper container packaging field, which has high barriers to entry. The company continues new product development, investing ¥22 million in R&D expenses, including feasibility studies for commercializing paper-based flexible packaging materials.
The company owns real estate such as office buildings and former warehouse sites within Tokyo. In FY2026 (ending March 2026), operating profit from the Real Estate Leasing Business, etc. was ¥360 million (up 38.1% year on year). As the group's only profitable segment, it complements losses in the core business. In October 2025, leasing of the land under the former Kita-Shinagawa building began, further expanding the revenue base.
At the Nasu Plant, the company launched manufacturing of industrial materials such as semiconductor processing tape from January 2025. Demand for jigs from crystal oscillator manufacturers serving the automotive and smartphone markets has remained solid, and sales of the Industrial Materials & Electronic Components Manufacturing Business reached ¥372 million, up 22.3% year on year. Expansion into precision manufacturing areas applying printing technology is progressing.
ENVALITH's Perspective
Performance Trend
Revenue decreased approximately 8% over five periods, from ¥15,413 million in FY2022 to ¥14,133 million in FY2026, primarily due to the structural decline in paper media demand driven by accelerating digitalization (an external factor). In FY2026 (ended March 2026), revenue was ¥14,133 million, down 4.2% year on year. The operating loss narrowed from ¥158 million to ¥69 million, reflecting a slight increase in gross profit (from ¥2,596 million to ¥2,625 million) and a reduction in SG&A expenses (from ¥2,755 million to ¥2,694 million). Net income of ¥353 million was dependent on extraordinary gains/losses, including a gain of ¥1,149 million on the sale of investment securities. For FY2027 (ending March 2027), the company forecasts revenue of ¥13,500 million (down 4.5% year on year), an operating loss of ¥350 million, and net income of zero, indicating that improvement in the earnings structure remains only halfway complete.
Growth Strategy
Transition to higher value-added printing operations, development of new fields in industrial materials, and rebuilding the earnings base through real estate utilization
Continuing negotiations to optimize product prices and freight charges in response to soaring energy and raw material costs, while reviewing unprofitable transactions. Certain results are said to have been achieved in FY2026 (ending March 2026), but an operating loss of ¥350 million is forecast for FY2027 (ending March 2026)... wait, FY2027 (ending March 2027), and full realization of the effects is expected to take time.
Promoting the consolidation and integration of printing plants to improve machine utilization rates across the group and reduce outsourcing costs. Efficient operation of Custom Envelopes & Small-to-Medium Lot Processing equipment also continues. Gross profit margin improved from 17.6% in FY2025 (ending March 2025) to 18.6% in FY2026 (ending March 2026), confirming a certain degree of effectiveness.
With the launch of the new plant (January 2026) of Mitsumura High-Speed Offset, a jointly invested subsidiary with The Yomiuri Shimbun Tokyo Head Office (65% equity stake held by the company), the company terminated newspaper printing production at its Kawagoe Plant and transferred the production function. Part of the Kawagoe Plant site was transferred to The Yomiuri Shimbun Tokyo Head Office, completing the transition to an asset-light collaborative structure.
Positioning the pharmaceutical/OTC packaging materials and packaging field handled by consolidated subsidiary Shinmura Printing as a growth area, the company is promoting new project acquisition, price optimization, and production line efficiency improvements through the introduction of material processing equipment. The company has stated its policy of actively allocating management resources to make this a major profit pillar for the group.
To reduce dependency risk on semiconductor-related applications, the company is promoting the expansion of application areas into the medical/healthcare field and industrial sensor applications. In FY2026 (ending March 2026), a segment loss of ¥58 million continued due to factors such as revisions to customers' development plans, and monetization in new fields has not yet been achieved.
Leasing of the land under the former Kita-Shinagawa Building commenced in October 2025, and the Real Estate Leasing, etc. Business achieved net sales of ¥645 million (including internal transfers), up 18.8% year on year, and operating income of ¥360 million, up 38.1% year on year. Utilization of idle assets at the Kawagoe business site and review of operations in anticipation of the Osaki area redevelopment plan are also continuing.
The company is moving into a demonstration and preparation phase for the commercialization of paper-based flexible packaging materials that reduce plastic usage while offering excellent design qualities. The aim is to create new profit opportunities that respond to the needs of an environmentally conscious society, but sales contribution is currently limited.
Last updated: July 19, 2026