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Costly cardboard production leaves Oji short of profit target

Higher materials prices offset Japanese papermaker's overseas pulp sales

Oji Holdings' sales of containerboard, a material used in cardboard boxes, have been boosted by an e-commerce boom in China and other emerging markets.

TOKYO -- Japanese papermaker Oji Holdings' operating profit apparently edged up to about 71 billion yen ($649 million) for the fiscal year ended in March, missing the projected 7% rise to 75 billion yen, as higher fuel and materials costs ate into profit margins.

Sales appear to have climbed 3% to 1.49 trillion yen, just shy of the 1.5 trillion yen forecast. Though sales of wood pulp used in papermaking grew overseas, particularly in China, domestic sales of printing paper flagged more than expected.

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