Oji Holdings (3861) AI Stock Analysis

• Market Cap: ¥763.72B
• Dividend Yield: 3.89%
• Average Volume (3M): 3.88M
• Price to Earnings (P/E): 22.7
• Beta (1Y): 0.55
• Revenue Growth: 3.91%
• EPS Growth: -22.60%
• Country: JP
• Employees: 38,322
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Paper, Lumber & Forest Products
• EPS (TTM): 17.42
• Shares Outstanding: 1,014,381,840
• 10 Day Avg. Volume: 4,471,990
• 30 Day Avg. Volume: 3,881,663
• PEG Ratio: -1.71
• Price to Book (P/B): 0.56
• Price to Sales (P/S): 0.33
• P/FCF Ratio: -12.36
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ¥905.32
• Price Target Upside: 13.46% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 62 Neutral
• Price Target: ¥830.00 ▲(4.02% Upside)

The overall stock score of 62 reflects moderate financial performance with consistent revenue growth but challenges in profitability and cash flow. Technical analysis indicates mixed momentum, while valuation suggests the stock may be overvalued. The absence of earnings call and corporate events data limits further insights.

Oji Holdings Business Overview & Revenue Model

Company Description

Oji Holdings Corporation (3861) is a leading Japanese company primarily engaged in the production and sale of paper products and packaging solutions. With a diverse portfolio that spans various sectors, including paper manufacturing, pulp production, and packaging, Oji Holdings serves a wide array of industries, from consumer goods to industrial applications. The company is also involved in renewable energy initiatives, leveraging its resources to support sustainable practices within its operations and product offerings.

How the Company Makes Money

Oji Holdings generates revenue through multiple key streams, primarily from its core operations in paper and packaging. The company manufactures a wide range of paper products, including printing paper, tissue paper, and specialty paper, which are sold to businesses both domestically and internationally. Additionally, Oji Holdings produces packaging materials, such as corrugated containers and flexible packaging, catering to various industries including food and beverage, electronics, and pharmaceuticals. The company benefits from strategic partnerships with other firms in the supply chain, enhancing its market reach and operational efficiency. Furthermore, Oji Holdings capitalizes on the growing demand for sustainable and eco-friendly products, investing in renewable energy and recycling initiatives that not only contribute to its revenue but also align with global sustainability trends.

Oji Holdings Financial Statement Overview

Summary

Oji Holdings shows consistent revenue growth but faces challenges in profitability and cash flow stability. The balance sheet is stable, though rising debt levels could pose future risks.

Income Statement

The company exhibits moderate growth with revenue increasing from the previous year. Gross profit margin is stable at around 18% over the years, while net profit margin shows a decreasing trend, currently at 2.5%. EBIT and EBITDA margins also reflect a slight decrease, indicating some pressure on operational efficiency. Despite these challenges, the company manages to maintain a positive revenue growth trajectory.

Balance Sheet

The balance sheet reveals a moderate debt-to-equity ratio of approximately 0.82, indicating a balanced approach to leveraging. However, the increase in total debt over recent years poses a potential risk. Return on equity has decreased from 9.8% to 4.2%, highlighting a reduction in profitability relative to shareholders' equity. The equity ratio remains stable, reflecting a consistent capital structure.

Cash Flow

Cash flow analysis shows a significant decrease in free cash flow, turning negative in the most recent year, which could indicate challenges in sustaining capital investments. The operating cash flow to net income ratio remains favorable, suggesting efficient cash generation from operations. However, the negative free cash flow to net income ratio signals potential cash constraints.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.87T	1.85T	1.70T	1.71T	1.47T	1.36T
Gross Profit	340.97B	349.39B	324.08B	340.00B	343.95B	327.43B
EBITDA	143.76B	199.47B	166.15B	165.02B	202.64B	151.53B
Net Income	23.30B	46.17B	50.81B	56.48B	87.51B	49.63B
Balance Sheet
Total Assets	2.59T	2.64T	2.44T	2.30T	2.05T	1.98T
Cash, Cash Equivalents and Short-Term Investments	69.10B	65.86B	62.86B	57.07B	55.82B	136.25B
Total Debt	948.67B	903.39B	736.72B	788.34B	650.51B	647.68B
Total Liabilities	1.53T	1.50T	1.35T	1.33T	1.18T	1.12T
Stockholders Equity	1.04T	1.10T	1.07T	937.08B	851.39B	751.18B
Cash Flow
Free Cash Flow	0.00	-49.51B	87.88B	-75.85B	44.93B	32.43B
Operating Cash Flow	0.00	94.42B	202.90B	18.26B	143.59B	127.11B
Investing Cash Flow	0.00	-154.91B	-118.00B	-123.27B	-92.57B	-91.56B
Financing Cash Flow	0.00	60.97B	-84.90B	101.79B	-136.00B	19.93B

Oji Holdings Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 797.90
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:3861, the sentiment is Negative. The current price of 797.9 is above the 20-day moving average (MA) of 789.60, below the 50-day MA of 799.66, and above the 200-day MA of 691.93, indicating a neutral trend. The MACD of -5.13 indicates Positive momentum. The RSI at 38.67 is Neutral, neither overbought nor oversold. The STOCH value of 27.04 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:3861.

Oji Holdings Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
8032	75 Outperform	¥107.21B	31.97	―	3.68%	4.06%	-73.92%
9274	72 Outperform	¥49.41B	6.76	―	4.63%	3.21%	-16.62%
3865	66 Neutral	€142.01B	9.26	6.24%	2.87%	2.64%	245.97%
3861	62 Neutral	¥763.72B	22.65	2.87%	3.89%	3.91%	-22.60%
3863	62 Neutral	¥123.16B	6.97	3.57%	1.32%	1.64%	-10.74%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
3880	54 Neutral	€137.64B	-14.11	-4.33%	1.67%	-2.23%	-8527.56%

Oji Holdings Corporate Events

Oji Holdings Revises Financial Forecast Amid Overseas Market Decline

Oji Holdings Corporation has revised its consolidated financial forecast for the second quarter of the fiscal year ending March 2026, citing a decline in overseas market conditions for pulp and other products. This revision reflects a decrease in expected net sales, operating profit, ordinary profit, and profit attributable to owners of the parent. Despite these adjustments, the company maintains its annual dividend forecast, indicating stability in shareholder returns.

The most recent analyst rating on (JP:3861) stock is a Hold with a Yen875.00 price target. To see the full list of analyst forecasts on Oji Holdings stock, see the JP:3861 Stock Forecast page.

Oji Holdings Announces Treasury Share Repurchase Status

Oji Holdings Corporation has announced the status of its treasury share repurchase, acquiring 1,894,700 shares for approximately JPY 1.57 billion between September 1 and September 30, 2025. This repurchase is part of a larger plan approved by the Board of Directors to buy back up to 100 million shares, with the aim of optimizing capital structure and enhancing shareholder value.

The most recent analyst rating on (JP:3861) stock is a Buy with a Yen930.00 price target. To see the full list of analyst forecasts on Oji Holdings stock, see the JP:3861 Stock Forecast page.

Oji Holdings Announces Progress in Share Repurchase Program

Oji Holdings Corporation announced the status of its treasury share repurchase, having acquired 2,710,200 shares at a cost of JPY 2,104,208,170 during August 2025. This move is part of a broader repurchase plan authorized by the Board of Directors, aiming to repurchase up to 100 million shares by December 2025, which could impact the company’s stock liquidity and shareholder value.

The most recent analyst rating on (JP:3861) stock is a Buy with a Yen880.00 price target. To see the full list of analyst forecasts on Oji Holdings stock, see the JP:3861 Stock Forecast page.

Oji Holdings Enhances Shareholder Engagement with New Benefits Program

Oji Holdings Corporation announced changes to its shareholder benefits program, effective September 30, 2025, to enhance shareholder engagement and understanding of the company’s cultural contributions. The revised program includes initiatives such as tree planting activities and concert invitations, aiming to foster deeper connections with shareholders and promote environmental and cultural awareness.

The most recent analyst rating on (JP:3861) stock is a Buy with a Yen880.00 price target. To see the full list of analyst forecasts on Oji Holdings stock, see the JP:3861 Stock Forecast page.

Oji Holdings Reports Mixed Q1 Financial Results

Oji Holdings Corporation is a leading Japanese company in the paper and packaging industry, known for its diverse product offerings including household materials, functional materials, and forest resources management.

Oji Holdings Reports First Quarter Financial Results for FY2026

Oji Holdings reported its financial results for the first quarter of the fiscal year ending March 2026, showing a decline in comprehensive income compared to the previous year. Despite the decrease in profits, the company maintains its dividend forecast and continues to focus on its strategic goals, indicating stability in its operations and commitment to shareholder returns.

The most recent analyst rating on (JP:3861) stock is a Buy with a Yen770.00 price target. To see the full list of analyst forecasts on Oji Holdings stock, see the JP:3861 Stock Forecast page.

Oji Holdings Announces Treasury Share Repurchase

Oji Holdings Corporation announced the repurchase of 3,118,800 of its common stock shares, amounting to JPY 2,321,117,070, during July 2025. This move is part of a broader plan approved by the Board of Directors to repurchase up to 100 million shares by December 2025, aiming to enhance shareholder value and optimize capital structure.

The most recent analyst rating on (JP:3861) stock is a Buy with a Yen760.00 price target. To see the full list of analyst forecasts on Oji Holdings stock, see the JP:3861 Stock Forecast page.