{ "spec_version": "4", "endpoint": "history", "stock_code": "3863", "company_name": "日本製紙", "content_lang": "ja", "meta_lang": "en", "canonical_url": "https://the-shashi.com/tse/3863/decisions/", "api_url": "/api/3863/history.json", "updated": "2026-10-03", "license": "© 2026 Yutaka Sugiura. All rights reserved.", "attribution": "The社史 (the-shashi.com) — https://the-shashi.com/tse/3863/decisions/", "source": { "chapters": { "html_url": "https://the-shashi.com/tse/3863/", "primary": [ "社史", "有価証券報告書", "新聞・雑誌記事" ], "extraction": "一次資料を読み合わせて執筆" }, "long_term": { "primary": [ "会社年鑑（1986年版）", "有価証券報告書（日本製紙グループ本社）", "会社年鑑（1976年版）半期合算", "有価証券報告書", "会社年鑑（1963年版）半期合算", "会社年鑑（1967年版）半期合算", "会社年鑑（1971年版）半期合算", "上場会社総覧（1956年版）半期合算", "上場会社総覧（1959年版）半期合算" ], "extraction": "EDINET の XBRL、kabupro 掲載の旧有価証券報告書、会社年鑑・社史等からの転記", "row_field": "reference", "caveat": "創業期から現在までを 1 本に繋いだ長期系列のため、年代により出所・単位・連結範囲が変わる。行ごとの reference / unit / consolidation を必ず参照すること" } }, "title": "日本製紙の歴史概略", "eras": [ { "title": "渋沢栄一らの抄紙会社設立と三井財閥の経営参画", "start_year": 1873, "end_year": 1909, "phase": "founding" }, { "title": "富士製紙と樺太工業の吸収合併", "start_year": 1910, "end_year": 1948, "phase": "growth" }, { "title": "旧王子製紙の分割による十條製紙の発足", "start_year": 1949, "end_year": 1972, "phase": "stable_growth" }, { "title": "山陽国策パルプの吸収合併と日本製紙への改称", "start_year": 1973, "end_year": 2000, "phase": "transformation" }, { "title": "大昭和製紙の吸収合併と総合バイオマス企業への転換", "start_year": 2001, "end_year": 2026, "phase": "transformation" } ], "overview": [ { "label": "創業", "text": "1873年2月、渋沢栄一氏が三井組・小野組・島田組に出資を勧め、資本金15万円の抄紙会社を発足させた。1875年に東京府下王子村で英国製の抄紙機を据えた工場を新設し、紙幣寮から受けた地券・印紙用紙の注文で創業期の赤字を埋めた。1876年に製紙会社、1893年に王子製紙へ改称し、1949年の旧王子製紙の分割で十條製紙として発足した。1993年に山陽国策パルプを吸収合併し、商号を日本製紙に改めている。" }, { "label": "決断", "text": "原料の技術は自前で育てたが、設備の資金は経営権と引き換えに得た会社である。1879年に大川平三郎氏を米国へ送り、1880年に藁パルプ、1889年に気田工場の亜硫酸パルプを実用化して、ボロに頼らない原料を手にした。ところが1896年の中部工場の建設に要る増資を大株主の三井に仰ぐと、1898年には大川平三郎氏と渋沢栄一氏がともに経営を退いた。その後に専務となった鈴木梅四郎氏は水害の続く天竜川の工場を見切り、1904年に苫小牧を建設地に選んだ。" }, { "label": "現況", "text": "祖業の紙・板紙が売上の最大を占めながら、利益はほとんど生まなくなった構造である。2026年3月期の連結売上高は1兆1,926億円、営業利益は252億円だった。紙・板紙事業は売上5,579億円に対しセグメント利益が6億円で、前期の83億円から大きく減った。一方で生活関連事業は前期の61億円の赤字から72億円の黒字へ転じ、木材・建材・土木建設関連事業は売上765億円で100億円の利益を上げた。" }, { "label": "競合", "text": "国内の同業では[王子ホールディングス](/tse/3861/)に次ぐ位置にあり、規模の差は開いている。2026年3月期の売上高は王子の1兆8,617億円に対して1兆1,926億円で、およそ3分の2にとどまる。所在地別では日本が8,570億円と7割強を占め、海外で最も大きいオセアニアも1,474億円である。王子が国外の植林地や包装材へ資産を移したのに対し、日本製紙は国内の工場群で稼ぐ体制を保ったまま、紙・板紙の採算を立て直す段階にある。" } ], "profile": [ { "key": "founding_business", "label": "祖業", "value": "紙幣・証券用の洋紙の国産化" }, { "key": "current_issue", "label": "現在の注力課題", "value": "紙・板紙の採算回復と生活関連事業の拡大", "tags": [ "収益改善", "多角化" ] } ], "timelineLead": "1873年に渋沢栄一氏が三井組・小野組・島田組に出資を勧めて発足させた抄紙会社が起源。\n1875年に王子村で英国製の抄紙機を据えた工場を操業し、1889年には亜硫酸パルプを実用化して木材原料の洋紙製造を拡大した。王子ホールディングスに次ぐ国内の製紙大手で、売上の7割強を国内が占める。", "foundingStory": true, "summary": { "description": "日本製紙（旧十條製紙）の歴史。1949年、渋沢栄一氏が興した旧王子製紙の分割で十條製紙として発足し洋紙製造を継承。東北パルプ合併、1993年の山陽国策パルプ合併と改称、大昭和製紙との統合までの沿革と経緯を執筆。" }, "chapters": [ { "start_year": 1873, "end_year": 1909, "main_title": "渋沢栄一らの抄紙会社設立と三井財閥の経営参画", "subsections": [ { "title": "渋沢栄一氏が三井組らに勧めた資本金15万円の抄紙会社と、王子村の78インチ抄紙機", "text": "明治初年の日本は、紙幣や証券に使う洋紙を輸入に依存していた。1872年に井上馨氏・渋沢栄一氏・上野景範氏が製紙業の建設を建議し、国産化の動きは政府の内側から始まった。大蔵省の官吏だった渋沢栄一氏は同年11月、三井組・小野組・島田組の3家に出資を勧め、資本金15万円の抄紙会社を組織した。勧誘の言葉は『目前の利益は少なく、大資本を要するが、国家社会のために製紙業をおこすべし』というもの。抄紙会社は大蔵省紙幣寮の許可を受けて1873年2月12日に発足し、渋沢栄一氏は退官後の1874年1月に初代頭取に就任した。官が建議した事業を富豪の出資に委ねたのは、利益が出るまでの長い期間を持ちこたえる資力を民間に求めたためとみられる。\n\n抄紙会社は最初の工場の地に東京府下王子村を選び、1875年6月に王子工場を完成させた。当時最大の網幅を持つ英国製78インチ抄紙機1台を据え、英国人技師のフランク・チースメン氏とトーマス・ボットムリー氏が運転を指導した。同年12月には新聞用紙を抄けるようになり、開業式を開催。国内に技術者がいなかったため、明治初期の製紙会社はどこも1〜3年契約で外国人技師を雇い、月給は200円から250円ほどに上った。渋沢栄一氏の甥で職工から入社した大川平三郎氏の初任給は5円である。設備も技術も輸入に依存した開業は、技術を国内の人材に移す課題を抄紙会社に残したのだろう。\n\n開業後も販売は振るわず、抄紙会社は発足から1875年までに4万円を超える赤字を出した。1877年までに民間の1社と官営の抄紙局が相次いで操業を始め、洋紙の作り手が増えたことも経営を圧迫する要因となった。抄紙会社が社名を製紙会社に改めたのは1876年である。苦境を和らげたのは紙幣寮から受注した地券と印紙類の用紙で、この受注を境に創立以来の損失は少しずつ埋まった。西南戦争で印刷用紙の需要は急増したものの、1880年に地券紙を抄く特典がなくなると、製紙業の経営は再び苦しくなった。官の大口注文で稼働を支えた経験は、民間の需要だけでは工場を回せない当時の市場の薄さを映していたと思われる。", "references": [ { "title": "十条製紙社史（1974）「「付」旧王子製紙のあらまし」", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "日本産業史 第1巻「製紙－輸入紙と苦しい戦い」", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "日本産業史 第1巻「製紙－原料求め北へ北へ」", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "日本産業史 第1巻「財閥の形成」", "year": null, "month": null, "date": null, "url": null, "quotes": [] } ], "start_year": 1873, "opinionPos": [ [ 310 ], [ 277 ], [ 291 ] ] }, { "title": "大川平三郎氏が米国から持ち帰った藁パルプと、気田工場の木材パルプ", "text": "輸入紙に値段で対抗するため、製紙会社は1879年に大川平三郎氏を米国へ派遣し、欧米の新しい製紙の知識を探らせた。大川平三郎氏は抄紙機の故障が続くことを渋沢栄一氏が嘆くのをたびたび聞き、技術の習得に打ち込んでいた。当時の原料はボロで、工場はボロを集めやすい都市の周辺に置かれていた。欧米ではボロの調達が限界に達して値が急騰し、打開策として生まれたのが麦わらを混ぜる製法である。大川平三郎氏が持ち帰ったのはこの製法で、渋沢栄一氏は後年、当時の驚きを『わらが紙になるなどそれこそ切支丹の法かとその時分は思った』と振り返った。原料をボロから藁へ広げることは、紙価を輸入品の水準へ近づける前提だったと推察される。\n\n大川平三郎氏は帰国後の1880年に稲藁を原料とする藁パルプを実用化し、製紙会社の原料をボロ以外へ広げた。同じ1880年、製紙業界は日本製紙聯合会を設け、輸入紙の時価を目安にした紙価の協定を締結。協定は3年後の1883年に廃止され、以後の製紙会社は原料費の切り下げで輸入紙に対抗した。明治10年代の洋紙需要は横ばいで、新たな製紙会社もほとんど生まれない時期にあたる。その中で製紙会社は整った会社組織と大きな資本、当時で最も幅の広い抄紙機を持ち、大川平三郎氏の技術を加えて業界で最も大きく発展した。藁パルプで原料費を下げた経験が、需要の戻る明治20年代に木材パルプへ進む土台になったと考えられる。\n\n製紙会社は1889年、静岡県の天竜川流域に新設した気田工場で、木材による亜硫酸パルプ(SP)生産を始めた。欧米でも木材パルプの企業化は緒に就いたばかりで、気田のSPにより輸入紙と比べて遜色のない品質と原価が国内で確かなものになった。これに先立ち製紙会社は明治20年代、天竜川流域で山林を買収し、原料の木材を自ら押さえた。ボロの時代は都市の周辺に工場を置いたが、木材パルプでは近くに適材があり、動力源となる水量の多い川があることが立地の条件になった。明治20年代の業界では水力による自家発電と木材パルプの使用が広がった。川に寄せた立地は、のちに水害という別の危険を製紙会社に負わせた。", "references": [ { "title": "十条製紙社史（1974）「「付」旧王子製紙のあらまし」", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "日本産業史 第1巻「製紙－輸入紙と苦しい戦い」", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "日本産業史 第1巻「製紙－原料求め北へ北へ」", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "日本産業史 第1巻「財閥の形成」", "year": null, "month": null, "date": null, "url": null, "quotes": [] } ], "start_year": 1878, "opinionPos": [ [ 300 ], [ 295 ], [ 290 ] ] }, { "title": "三井の経営参画で退任した渋沢栄一氏・大川平三郎氏と、苫小牧の新聞用紙工場", "text": "製紙会社は1893年、商号を王子製紙株式会社に改めた。経営の実権は発起人の渋沢栄一氏が握り、渋沢栄一氏の系列に属する大川平三郎氏が専務取締役へ昇進していた。大川平三郎氏は藁パルプの実用化と気田工場のSPを手がけた技術者で、十条製紙の社史は近代的な製紙技術の確立者と位置づけている。同じ頃、王子製紙は設備の大幅な拡張を計画し、主要な出資者の三井に増資を相談した。三井銀行では井上馨氏の推薦を受けて1891年に理事となった中上川彦次郎氏が不良貸金を整理し、前橋紡績所や芝浦製作所を傘下に収めていた。技術を担う大川平三郎氏と、資本を持ち経営の実権を求める三井との関係は、増資の相談を機に緊張をはらんでいった。\n\n1896年、王子製紙は気田工場と同じ天竜川流域に中部工場を建てることを決め、資本金を50万円から110万円に増やす必要に迫られた。創業時からの株主で株式の60%を持つ三井が、増資を引き受ける条件として求めたのは経営への参加である。三井銀行の中上川彦次郎氏は三井の資金で工業化を進める考えを持ち、鐘紡や北炭を既に傘下に置いていた。三井が専務に送った藤山雷太氏と大川平三郎氏は激しく対立した。1898年8月に大川平三郎氏が取締役兼技師長へ降格されると、150余人の工員がストライキで抗議の声を上げた。争議は大川平三郎氏の退任で収まり、9月に会長の渋沢栄一氏も退任して、王子製紙の経営は三井の手に移った。\n\n中部工場の開業は1899年1月で、設備は98インチの新聞用抄紙機2台である。良質な新聞用紙を抄くのに手間取り、天竜川の出水で操業停止や原木の流失が重なって、開業以来赤字が続いた。王子製紙は1904年上期まで無配の赤字決算を重ね、1903年には資本金200万円を50万円に減資したうえで200万円に増資した。1902年7月に専務へ就任した鈴木梅四郎氏は、同年に中部工場、翌年に気田工場が大きな水害を受けたため、両工場に見切りをつけた。鈴木梅四郎氏はエゾマツ・トドマツの原始林がある北海道に着目し、1904年に支笏湖の水利を確かめ、苫小牧を工場の建設地に選んだ。王子製紙は1906年に苫小牧での建設を正式に決め、資本金を600万円に引き上げて新聞用紙の大工場に備えた。", "references": [ { "title": "十条製紙社史（1974）「「付」旧王子製紙のあらまし」", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "日本産業史 第1巻「製紙－輸入紙と苦しい戦い」", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "日本産業史 第1巻「製紙－原料求め北へ北へ」", "year": null, "month": null, "date": null, "url": null, "quotes": [] }, { "title": "日本産業史 第1巻「財閥の形成」", "year": null, "month": null, "date": null, "url": null, "quotes": [] } ], "start_year": 1893, "opinionPos": [ [ 300 ], [], [] ] } ] } ], "long_term": [ { "year": 1949, "month": 3, "company_name": "日本製紙", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": null, "sales": null, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": null, "net_profit": null, "net_margin": null, "employees": null, "reference": null }, { "year": 1950, "month": 3, "company_name": "日本製紙", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": null, "sales": null, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": null, "net_profit": null, "net_margin": null, "employees": null, "reference": null }, { "year": 1951, "month": 3, "company_name": "日本製紙", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": null, "sales": null, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": null, "net_profit": null, "net_margin": null, "employees": null, "reference": null }, { "year": 1952, "month": 3, "company_name": "日本製紙", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": null, "sales": null, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": null, "net_profit": null, "net_margin": null, "employees": null, "reference": null }, { "year": 1953, "month": 3, "company_name": "十條製紙", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 164, "operating_profit_jp": "営業利益", "operating_profit": 24, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": "当期純利益", "net_profit": 17, "net_margin": 10.365, "employees": null, "reference": "上場会社総覧（1956年版）半期合算" }, { "year": 1954, "month": 3, "company_name": "十條製紙", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 194, "operating_profit_jp": "営業利益", "operating_profit": 30, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": "当期純利益", "net_profit": 19, "net_margin": 9.793, "employees": null, "reference": "上場会社総覧（1956年版）半期合算" }, { "year": 1955, "month": 3, "company_name": "十條製紙", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 196, "operating_profit_jp": "営業利益", "operating_profit": 20, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": "当期純利益", "net_profit": 13, "net_margin": 6.632, "employees": null, "reference": "上場会社総覧（1956年版）半期合算" }, { "year": 1956, "month": 3, "company_name": "日本製紙", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": null, "sales": null, "operating_profit_jp": null, "operating_profit": null, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": null, "net_profit": null, "net_margin": null, "employees": null, "reference": null }, { "year": 1957, "month": 3, "company_name": "十條製紙", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", "sales_jp": "売上高", "sales": 220, "operating_profit_jp": "営業利益", "operating_profit": 26, "ordinary_profit_jp": null, "ordinary_profit": null, "net_profit_jp": null, "net_profit": null, "net_margin": null, "employees": null, "reference": "上場会社総覧（1959年版）半期合算" }, { "year": 1958, "month": 3, "company_name": "十條製紙", "consolidation": "単体", "accounting_standard": "JGAAP", "unit": "億円", 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