August 13, 2020

Summary of Consolidated Financial Results
for the Three Months Ended June 30, 2020 (unaudited)
Company name: Mitsubishi Paper Mills Limited
Stock exchange listing: Tokyo Stock Exchange
Code number: 3864
URL: https://www.mpm.co.jp/
Representative: Yukihiro Tachifuji, President and Chief Executive Officer
Contact: Hironori Oikawa, Executive Officer General Manager, Finance & Accounting Dept.
Phone: +81-3-5600-1407(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Three Months Ended June 30, 2020 (April 1, 2020 to June 30,2020)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating income
Ordinary income
owners of parent
Three months ended
Million yen%
Million yen%
Million yen%
Million yen%
June 30, 2020
41,173 (14.4)(1,479)(1,236)(1,661)
June 30, 2019
48,098
(3.5)
(599)
(789)
(1,181)(Note) Comprehensive income: Three months ended June 30, 2020: ¥(1,256) million [-%]
Three months ended June 30, 2019: ¥(1,738) million [-%]
Earnings per share

Three months endedJune 30, 2020
June 30, 2019

Diluted earnings
per shareYenYen(37.21)(26.46)-(2) Consolidated Financial Condition
Total assets

Net assets

Million yen

As of June 30, 2020
214,293
As of March 31, 2020
212,217(Reference) Equity: As of June 30, 2020: ¥59,044 million
As of March 31, 2020: ¥60,525 million

Equity ratio

Million yen%

59,04760,52727.6
28.5

2. Dividends
1stquarter-end

Annual dividends
2nd
3rd
quarter-end
quarter-end

Yen

Yen

Year-end

Yen

Fiscal year ended March 31, 2020
0.00
Fiscal year ending March 31, 2021
Fiscal year ending March 31, 2021
(Forecast)(Note) Revision to the forecast for dividends announced most recently: None(Note) Year-end dividend for Fiscal year ending March 31, 2021 has yet to be determined.

1Total

Yen

Yen

5.00

5.00

--

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2021 (April 1, 2020 toMarch 31, 2021)
It is not possible at this stage to accurately and reasonably calculate the impact of the coronavirus pandemic.
Therefore, the consolidated financial outlook for the fiscal year ending in March 2021 has yet to be finalized.
The financial outlook will be announced as soon as it is possible to do so(Note) Revision to the financial results forecast announced most recently: None
* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting
in changes in scope of consolidation): None
New: - (Company name);
Excluded: - (Company name)(2) Accounting policies adopted specially for the preparation of quarterly consolidated financial statements: None
(3) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: None
2) Changes in accounting policies other than 1) above: None
3) Changes in accounting estimates: Yes
4) Retrospective restatement: None
(4) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
June 30, 2020: 44,741,433 shares
March 31, 2020: 44,741,433 shares2) Total number of treasury shares at the end of the period:
June 30, 2020: 82,580 shares
March 31, 2020: 82,401 shares
3) Average number of shares during the period:
Three months ended June 30, 2020: 44,658,968 shares
Three months ended June 30, 2019: 44,660,765 shares* This quarterly financial results report is exempt from quarterly review by Certified Public Accountants or an
Audit Firm.
* Explanation of the proper use of financial results forecast and other notes
The earnings forecasts and other forward-looking statements herein are based on information currently
acquired by the Company and certain assumptions assessed to be reasonable. Actual results may differ
significantly from these forecasts due to a wide range of factors.

2Consolidated Financial Statements(1) Consolidated Balance Sheets(Million yen)
As of March 31, 2020
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable - trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

3

As of June 30, 2020

9,260
31,35830,138
7,066
11,2783,629(157)
92,576

6,851
37,491
28,411
7,018
11,965
3,656(140)
95,25424,45943,816
21,898467
3,066
93,70824,04442,426
21,841
1,281
2,922
92,517

409
409

385
385

15,7639,833(74)
25,523
119,641
212,217

16,712
9,498(74)26,136
119,039214,293(Million yen)
As of March 31, 2020
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations
Short-term loans payable
Commercial paper
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Net defined benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive incomeValuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

4

As of June 30, 2020

22,082
3,934
64,2674,000
431
10,804
105,519

18,5773,514
61,98915,000210
10,752110,045

33,495
9,423
883
2,366
46,169151,689

32,840
9,233
883
2,242
45,201
155,246

36,561
8,555
13,719(152)
58,68436,561
8,555
11,834(152)
56,7991,206
1,095(461)
1,840
260,527212,217

1,748933(436)2,245
359,047214,293

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income
Three Months Ended June 30(Million yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using equity
methodOther
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary loss
Extraordinary income
Gain on disposal of non-current assets
Gain on sales of investment securities
Other
Total extraordinary income
Extraordinary losses
Loss on disposal of non-current assets
Other
Total extraordinary losses
Loss before income taxes
Income taxes
Loss
Profit attributable to non-controlling interests
Loss attributable to owners of parent

For the three months ended
June 30, 2019
48,09841,662
6,435
7,035
(599)

For the three months ended
June 30, 2020
41,17336,498
4,674
6,154(1,479)

13233

9262

18189

106
371

82543

264
183
113
561
(789)

2004159300(1,236)

34705170−7198
95294(1,032)
138(1,170)
10(1,181)201
28229(1,459)
202(1,661)
0(1,661)5Consolidated Statements of Comprehensive Income
Three Months Ended June 30(Million yen)

Loss
Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Remeasurements of defined benefit plans, net of tax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controllinginterests

For the three months ended
June 30, 2019
(1,170)For the three months ended
June 30, 2020
(1,661)

(730)
(55)
218

543
(157)
24

(0)

(5)

(568)
(1,738)405(1,256)(1,761)(1,257)2206