Hi Janis,
The SAP Printing is based on Smartforms and the issue is resolved now.
We compared the fonts between two different output devices through raw format in SP01 and came to know that HP device type which we selected didn't use JPMINCHO font whereas other printer set up in SAP which is Kyocera supports JPMINCHO.
Once we identify the device type which supports font JPMINCHO then it started working with correct alignment.
Thanks.