3943
OHISHI SANGYO CO.,LTD.
大石産業株式会社
Pulp & Paper
Ohishi Sangyo Co., Ltd. engages in the manufacture and sale of industrial packaging materials primarily in Japan. The company offers pulp molds that are used in livestock, agricultural, and industrial applications; and plastic films, such as polystyrene and cast film for food packaging, hygiene, electricity, and industrial applications. It also provides heavy duty bags, including pasted bottoming bag, sack kraft bags, and polyethylene heavy duty bags, which are used for petrochemical products, flour, food, feed, fertilizer, and other powder and granular foams; and corrugated boards that are used for industrial and agricultural applications. In addition, the company offers Yuricargo, a container for packing strawberries. Ohishi Sangyo Co., Ltd. was incorporated in 1947 and is based in Kitakyushu, Japan.
Read more
← Companies
⚠ TSE Capital Mandate
P / Book
0.49×
Overview
Filings & Signals
Ownership
Financials
▾ Collapse Charts
Income Statement
Balance Sheet
Cash Flow
Ratios & Per Share
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Net Sales
¥23.5B
¥23.5B
¥22.0B
¥21.8B
¥19.8B
Cost of Sales
¥19.0B
¥19.2B
¥17.8B
¥17.6B
¥15.4B
Gross Profit
¥4.4B
¥4.3B
¥4.2B
¥4.2B
¥4.3B
SG&A
¥3.7B
¥3.4B
¥3.1B
¥3.1B
¥3.0B
Operating Income
¥717M
¥904M
¥1.1B
¥1.1B
¥1.3B
Non-Operating Income
¥319M
¥317M
¥333M
¥346M
¥328M
Dividend Income
—
¥46M
¥40M
¥37M
¥32M
Interest Income
—
¥11M
¥3M
¥0M
¥1M
Non-Operating Expenses
—
¥91M
¥71M
¥74M
¥88M
Interest Expense
—
¥18M
¥31M
¥29M
¥26M
Ordinary Income
¥991M
¥1.1B
¥1.3B
¥1.4B
¥1.5B
Pre-tax Income
¥1.1B
¥1.3B
¥1.5B
¥1.2B
¥1.5B
Income Taxes
¥401M
¥375M
¥470M
¥307M
¥454M
Current Tax
—
¥403M
¥466M
¥389M
¥443M
Deferred Tax
—
¥-27M
¥4M
¥-82M
¥11M
Net Income (owners)
¥724M
¥944M
¥1.1B
¥902M
¥1.1B
Minority Interest
—
¥0M
¥2M
¥4M
¥4M
Comprehensive Income
—
¥1.2B
¥1.4B
¥1.1B
¥1.2B
EBITDA
¥1.9B
¥1.9B
¥2.0B
¥1.9B
¥2.0B
Goodwill Amort. (J-GAAP)
—
¥3M
¥12M
¥12M
¥12M
EPS
¥92.41
¥121.57
¥275.07
¥233.68
¥273.73
Shares Outstanding
—
7.9M
4.0M
4.0M
4.0M
Shares Issued (total)
—
9.3M
4.7M
4.7M
4.7M
Treasury Shares
—
1.4M
0.7M
0.7M
0.7M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Total Assets
¥28.1B
¥26.7B
¥26.1B
¥25.5B
¥24.2B
Current Assets
¥14.3B
¥15.5B
¥15.4B
¥15.5B
¥15.1B
Cash & Deposits
¥6.5B
¥7.4B
¥7.4B
¥7.5B
¥7.7B
Trade Receivables
—
¥3.7B
¥4.0B
¥4.1B
¥4.0B
Non-Current Assets
¥13.7B
¥11.2B
¥10.7B
¥10.0B
¥9.1B
PP&E
¥11.1B
¥8.9B
¥8.3B
¥7.8B
¥7.1B
Goodwill
—
—
¥3M
¥15M
¥28M
Intangible Assets
—
¥213M
¥221M
¥224M
¥171M
Investment Securities
¥2.0B
¥1.5B
¥1.6B
¥1.2B
¥1.2B
Deferred Tax Assets
—
¥291M
¥288M
¥397M
¥381M
Total Liabilities
¥8.4B
¥8.0B
¥8.3B
¥9.0B
¥8.5B
Current Liabilities
¥6.8B
¥6.3B
¥6.6B
¥7.2B
¥6.6B
Accounts Payable
—
¥1.7B
¥1.9B
¥1.9B
¥2.0B
ST Debt
¥385M
¥525M
¥580M
¥929M
¥830M
Taxes Payable
—
¥179M
¥284M
¥154M
¥257M
Non-Current Liabilities
¥1.6B
¥1.7B
¥1.8B
¥1.8B
¥1.9B
Total LT Borrowings
—
—
—
¥10M
¥85M
Pension Obligations
—
¥1.2B
¥1.3B
¥1.3B
¥1.3B
Deferred Tax Liab.
—
¥200M
¥194M
¥164M
¥196M
Total Equity
¥19.6B
¥18.7B
¥17.7B
¥16.5B
¥15.7B
Capital Stock
—
¥466M
¥466M
¥466M
¥466M
Capital Surplus
—
¥416M
¥416M
¥416M
¥417M
Retained Earnings
¥18.2B
¥18.0B
¥17.3B
¥16.5B
¥15.8B
Treasury Stock
—
¥-998M
¥-1.0B
¥-1.0B
¥-1.1B
AOCI
—
¥802M
¥558M
¥183M
¥31M
Equity (owners)
¥18.2B
¥17.9B
¥17.1B
¥16.3B
¥15.7B
Minority Interests
—
¥64M
¥56M
¥52M
¥44M
Total Interest-Bearing Debt ⓘ
¥385M
¥525M
¥580M
¥939M
¥915M
Net Cash ⓘ
¥6.2B
¥6.9B
¥6.8B
¥6.6B
¥6.8B
NCAV ⓘ
¥5.9B
¥7.5B
¥7.1B
¥6.5B
¥6.6B
NCAV/Share
—
¥954
¥1,790
¥1,655
¥1,664
BV/Share
—
¥2,259
¥4,333
¥4,127
¥3,960
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
Operating CF
¥2.3B
¥2.2B
¥1.9B
¥1.2B
¥1.7B
Interest Paid
—
¥-18M
¥-31M
¥-29M
¥-26M
Interest Received
—
¥58M
¥44M
¥38M
¥34M
D&A
¥1.2B
¥1.0B
¥875M
¥741M
¥695M
Goodwill Amort.
—
¥3M
¥12M
¥12M
¥12M
Investing CF
¥-3.0B
¥-1.8B
¥-1.4B
¥-1.1B
¥-642M
CapEx
¥2.5B
¥1.7B
¥1.3B
¥1.1B
¥692M
Purchase Investments
—
—
¥-5M
—
¥-15M
Proceeds from Invest.
—
—
—
—
¥7M
Financing CF
¥-665M
¥-388M
¥-642M
¥-333M
¥-337M
Dividends Paid
—
¥-252M
¥-253M
¥-266M
¥-235M
Share Buybacks
—
¥0M
¥0M
—
¥-0M
LT Debt Repaid
—
¥-11M
¥-84M
¥-95M
¥-96M
Free Cash Flow
¥-188M
¥451M
¥595M
¥185M
¥1.1B
Net Change in Cash
—
¥21M
¥-128M
¥-202M
¥790M
Metric
FY 2025
TDnet
FY 2024
EDINET ↗
FY 2023
EDINET ↗
FY 2022
EDINET ↗
FY 2021
EDINET ↗
ROE
3.8%
5.2%
6.2%
5.6%
7.0%
ROA
2.6%
3.6%
4.1%
3.6%
4.4%
EPS
¥92.41
¥121.57
¥275.07
¥233.68
¥273.73
DPS
¥26.00
¥67.00
¥64.00
¥64.00
¥64.00
BPS
¥2,491.98
¥2,395.75
¥4,566.67
¥4,260.22
¥4,063.05
FCF/Share
—
¥57
¥151
¥47
¥267
NCAV/Share
—
¥954
¥1,790
¥1,655
¥1,664
Payout Ratio
28.1%
55.1%
23.3%
27.4%
23.4%
Event Timeline
S Shareholder
A Capital Signal
▾ Hide Chart
Large Shareholder Reports 1
Date Activist Stake Event Flag Demands Source
2024-10-04
Aioi Nissay Dowa Insurance Co.,Ltd.
4.03%
change
Passive
—
Capital Allocation Signals 2
Date
Type
Amount
Summary
2026-05-15
16:00
Div Cut
¥206M ¥26.0/sh
-26%
OHISHI Sangyo announced a year-end dividend of ¥26 per share for FY2026 (ended March 31, 2026), totaling ¥206 million. T…
Summary
OHISHI Sangyo announced a year-end dividend of ¥26 per share for FY2026 (ended March 31, 2026), totaling ¥206 million. This represents a 26% reduction compared to the prior year's ¥35 per share (which included a ¥20 ordinary dividend and ¥15 commemorative dividend). The annual dividend for FY2026 is ¥52 per share (¥26 interim + ¥26 year-end), down from the prior year's ¥51 per share on a post-split basis. The company cited its stable dividend policy targeting a consolidated net asset dividend ratio (DOE) of 2.0% or above while maintaining internal reserves for future business development.
Deadline: 2026-06-02
YoY: -26%
Source (JP)
当社グループは、生産性の向上を図りながら、将来の事業展開に備えた内部留保を確保しつつ、連結純資産配当率(DOE)2.0%以上を目安に、安定的に配当を実施する方針としております。
2026-05-15
16:00
Cost of Capital
—
Ohishi Sangyo (3943) updated its capital cost and shareholder value management program, originally disclosed December 19…
Summary
Ohishi Sangyo (3943) updated its capital cost and shareholder value management program, originally disclosed December 19, 2024. The company targets PBR 1.0x and ROE 8% by fiscal 2035, with interim goals of 275 billion yen revenue and 18 billion yen operating profit by FY2028. Concrete initiatives include dividend policy revision (DOE from 1.5% to 2.0%+, achieving 2.1% in FY2026), strategic policy shareholding reduction to ≤5% of consolidated net assets, a 2:1 stock split completed October 2024, and enhanced investor relations.
YoY: +10%
Source (JP)
2026年5月15日に改めて現状を分析・評価し、改善に向けた方針・取り組み等をアップデート。PBR向上=ROE向上×資本コスト低減の目標1.0倍、ROE目標8%。配当目安:DOE2.0%以上へ変更、2026年3月期実績2.1%。政策保有株式を連結純資産の5%以下に削減予定。
資本コストや株価を意識した経営の実現に向けた対応について(アップデート)
TDnet PDF
Top 10 Shareholders
Ownership DNA
Cross-Holdings Tracker 16
#
Shareholder
Shares (thou.)
% of Total
1
Oji Holdings Corporation
王子ホールディングス株式会社
763
9.65%
2
OSK Employee Stock Ownership Plan
OSK社員持株会
553
7.00%
3
株式会社西日本シティ銀行
378
4.79%
4
THE BANK OF FUKUOKA, LTD.
株式会社福岡銀行
373
4.72%
5
株式会社北九州銀行
351
4.45%
6
Mitsui Sumitomo Insurance Company, Limited
三井住友海上火災保険株式会社
240
3.04%
7
株式会社ニシキ
200
2.53%
8
Nippon Life Insurance
日本生命保険相互会社
173
2.19%
9
西日本ユウコー商事株式会社
147
1.87%
10
Japan Custody Bank
株式会社日本カストディ銀行(信託口)
115
1.47%
Domestic Nominees
1.5%
-0.6% vs 2024
Trust bank custodians — GPIF, pensions, investment trusts
Foreign Custodians
0.0%
+0.0% vs 2024
Sub-custodians for foreign asset managers
Direct / Strategic
40.2%
-1.6% vs 2024
Named entities with disclosed investment intent
Shareholder
Trend
2023
2024
2025
Oji Holdings Corporation
王子ホールディングス
9.65%
9.65%
9.65%
OSK Employee Stock Ownership Plan
OSK社員持株会
7.91%
7.87%
7.00%
-0.87%
式会社西日本シティ銀行
4.79%
4.79%
4.79%
THE BANK OF FUKUOKA, LTD.
式会社福岡銀行
4.72%
4.72%
4.72%
式会社北九州銀行
4.45%
4.45%
4.45%
Mitsui Sumitomo Insurance Company, Limited
三井住友海上火災保険
3.70%
3.70%
3.04%
-0.66%
式会社ニシキ
2.53%
2.53%
2.53%
Nippon Life Insurance
日本生命保険
2.19%
2.19%
2.19%
西日本ユウコー商事
NEW ENTRY
—
—
—
1.87%
NEW
Japan Custody Bank
日本カストディ銀行
2.03%
2.03%
1.47%
-0.56%
Tokio Marine & Nichido Fire Insurance Co., Ltd.
東京海上日動火災保険
last seen 2024
Exited Top 10
1.95%
1.95%
—
Concentration (HHI)
ⓘ
254
253
233
3 fiscal years · top-10 holders per year · >2,500 HHI = high concentration · entity-resolved
Portfolio Book Value
¥996M
+28% since 2023
Holdings
16
+4 new
3 exited
Trend
1 building
vs 2023
Held Company
FY2025
¥996M total
FY2023
¥778M total
Book Val ¥M
Shares
Book Val ¥M
Shares
AGC Inc.
AGC㈱
244
53,871
265
53,871
Yamaguchi Finacial Group,Inc.
㈱山口フィナンシャルグループ
146
83,329
67
83,329
M
Fukuoka Financial Group, Inc.
㈱ふくおかフィナンシャルグループ
111
28,431
72
28,431
M
Oji Holdings Corporation
王子ホールディングス㈱
109
174,166
91
174,166
M
譬ェ蠑丈シ夂、セ隘ソ譌・譛ャ繝輔ぅ繝翫Φ繧キ繝」繝ォ繝帙�シ繝ォ繝�繧」繝ウ繧ー繧ケ
㈱西日本フィナンシャルホールディングス
101
48,528
52
48,528
M
NIPPON STEEL CORPORATION
日本製鉄㈱
69
21,770
67
21,770
TOSOH CORPORATION
東ソー㈱
68
33,400
60
33,400
NIPPN CORPORATION
㈱ニップン
35
NEW
New
16,300
—
三井住友トラスト・ホールディングス㈱
27
+100.0%
↑
7,264
16
3,632
M
Japan Dry Distillation Industry Co., Ltd.
日本乾溜工業㈱
26
27,000
17
27,000
M
SAKATA INX CORPORATION
サカタインクス㈱
24
12,685
13
12,685
M
Japan Pulp & Paper Co., Ltd.
日本紙パルプ商事㈱ (注2)
21
NEW
New
35,000
—
M
Star Flyer Inc.
㈱スターフライヤー
10
4,000
10
4,000
Tomagawa Corporation Co., Ltd.
㈱巴川コーポレーション
4
NEW
New
5,800
—
M
Hayashikane Sangyo Co., Ltd.
林兼産業㈱
1
NEW
New
2,101
—
オーケー食品工業㈱ (注2)
—
—
NIPPN CORPORATION
㈱ニップン (注2)
—
−100%
Exit
—
27
16,300
Japan Pulp & Paper Co., Ltd.
日本紙パルプ商事㈱
—
−100%
Exit
—
18
3,500
M
㈱巴川製紙所
—
−100%
Exit
—
3
5,800
M
Portfolio total
996
778
Book value in ¥M · ↓ reduced · ↑ increased vs prior year · M = mutual holding