Heiwa Paper Co.,Ltd. reported consolidated and non consolidated earnings results for the year ended March 31, 2016. For the period, on consolidated basis, the company's net sales were ¥20,305 million against ¥20,523 million a year ago. Operating income was ¥319 million against ¥375 million a year ago. Ordinary income was ¥394 million against ¥404 million a year ago. Profit attributable to owners of parent was ¥237 million against ¥221 million a year ago. Basic earnings per share were ¥24.04 against ¥22.43 a year ago. Return on equity was 2.9% against 2.8% a year ago. Cash flows from operating activities were ¥82 million against ¥212 million a year ago.

For the period, on non consolidated basis, the company's net sales were ¥19,157 million against ¥19,267 million a year ago. Operating income was ¥287 million against ¥287 million a year ago. Ordinary income was ¥368 million against ¥356 million a year ago. Profit was ¥219 million against ¥174 million a year ago. Basic earnings per share were ¥22.28 against ¥17.66 a year ago.

For six months ending September 2016, the company expects net sales of ¥10,076 million, operating income of ¥115 million, ordinary income of ¥155 million and profit attributable to owners of parent of ¥100 million or ¥10.13 per basic share.

For six months ending March 2017, the company expects net sales of ¥20,500 million, operating income of ¥343 million, ordinary income of ¥398 million and profit attributable to owners of parent of ¥261 million or ¥26.46 per basic share.

The company announced year end dividend of ¥7.00 per share for the fiscal year ended March 31, 2016 compared to ¥5.00 per share a year ago, payable on June 30, 2016.

The company expects interim dividend of ¥5.00 per share and year end dividend of ¥5.00 per share for the fiscal year 2017.