February 7, 2019

Summary of Consolidated Financial Results
for the Nine Months Ended December 31, 2018 (unaudited)
Company name: Mitsubishi Paper Mills Limited
Stock exchange listing: Tokyo Stock Exchange
Code number: 3864
URL: http://www.mpm.co.jp/
Representative: Kunio Suzuki, President and Chief Executive Officer
Contact: Hironori Oikawa, 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 Nine Months Ended December 31, 2018 (April 1, 2018 toDecember 31, 2018)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating income
Ordinary income
owners of parent
Nine months ended
Million yen%
Million yen%
Million yen%
Million yen%
December 31, 2018
152,5361.3(1,268)(1,657)(2,949)December 31, 2017
150,559(0.2)
863(73.0)
811(63.9)(287)(Note) Comprehensive income: Nine months ended December 31, 2018: ¥(5,035) million [-%]
Nine months ended December 31, 2017: ¥1,110 million [(46.4)%]
Diluted earnings
Earnings per shareper share
Nine months ended
Yen
Yen
December 31, 2018(86.30)December 31, 2017(8.41)(2) Consolidated Financial Condition
Total assets

Net assets

Million yen

Equity ratio

Million yen

As of December 31, 2018
230,097
As of March 31, 2018237,379(Reference) Equity: As of December 31, 2018: ¥54,739 million
As of March 31, 2018: ¥59,731 million%

55,846
61,07723.8
25.2

2. Dividends
1stquarter-end

2ndquarter-end

Yen

Annual dividends
3rdquarter-end

Yen

Year-end

Yen

Fiscal year ended March 31, 2018
0.00
0.00
Fiscal year ending March 31, 2019
Fiscal year ending March 31, 2019
(Forecast)(Note) Revision to the forecast for dividends announced most recently: None
Year-end dividend for Fiscal year ending March 31, 2019 has yet to be determined.

1TotalYen

Yen

5.00

5.00

--

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2019 (April 1, 2018 toMarch 31, 2019)(% indicates changes from the previous corresponding period.)
Profitattributable toEarnings per share
Net sales
Operating income
Ordinary income
owners of parentFull year

Million yen%

202,000

0.3

Million yen%

Million yen%

0 (100.0)(1,000)-Million yen%

Yen0 (100.0)

0.00(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: None
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):December 31, 2018: 34,258,433 shares
March 31, 2018: 34,258,433 shares2) Total number of treasury shares at the end of the period:December 31, 2018: 79,759 shares
March 31, 2018: 77,847 shares
3) Average number of shares during the period:
Nine months ended December 31, 2018: 34,179,624 shares
Nine months ended December 31, 2017: 34,181,414 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, 2018
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, netLand
Construction 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 December 31, 2018

9,744
46,33027,552
6,707
9,729
4,476
(224)
104,316

9,046
40,95826,124
7,096
11,963
5,716(202)
100,703

25,41347,291
22,1472,310
2,569
99,732

24,32144,90522,094
5,820
2,481
99,623

1,719
1,719

1,720
1,720

21,672
10,007(68)
31,611133,063237,379

17,93910,153(42)
28,050129,394
230,097(Million yen)
As of March 31, 2018
Liabilities
Current liabilities
Notes and accounts payable - trade
Short-term loans payable
Commercial paper
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
Reserve for loss on dissolution of employee's fundNet defined benefit liability
Asset retirement obligations
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Capital stock
Capital surplus
Retained earnings
Treasury sharesTotal shareholders’ equity
Accumulated other comprehensive income
Valuation 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 December 31, 2018

26,81870,8283,000
397
16,164
117,208

33,362
71,1663,000
244
17,624125,397

45,656
143
9,328
888
3,076
59,093
176,30236,269－9,088882
2,612
48,853
174,251

32,756
6,132
12,965(148)
51,70632,756
6,132
9,844(149)
48,584

5,204
1,511
1,309
8,025
1,345
61,077
237,379

3,210
1,420
1,523
6,155
1,107
55,846230,097

(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Million yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income(loss)
Non-operating income
Interest income
Dividend income
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Other
Total non-operating expenses
Ordinary income(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
Special retirement expenses
Loss on disaster
Impairment loss
Other
Total extraordinary losses
Income(Loss) before income taxes and non-controllinginterests
Income taxes
Loss
Loss attributable to non-controlling interests
Loss attributable to owners of parent

For the nine months ended
December 31, 2017
150,559
126,704
23,85522,991863

For the nine months ended
December 31, 2018
152,536
131,371
21,164
22,432(1,268)

41
467
522
527
1,559

44
536
148
498
1,227

1,352
259
1,611
811

1,068
548
1,617
(1,657)

168
170
65
404

7
501
2
511

360
218－－
3
582

442
579
642
41
178
1,885

633

(3,031)

1,128
(495)
(207)
(287)

66
(3,098)(148)(2,949)5

Consolidated Statements of Comprehensive Income(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 nine months ended
December 31, 2017(495)

For the nine months ended
December 31, 2018
(3,098)

1,910
156
(434)

(2,104)
(95)
258

(26)

3

1,605
1,110

(1,936)(5,035)

1,098(4,820)11(214)

6