News Release

Japan Pulp and Paper Company Limited (JP) hereby announce the establishment of a new holding company as part of its efforts to create a structure capable of providing prompt and comprehensive decisions concerning the overall management of the JP Group's recovered paper business units.

Since commencing its wastepaper recycling activities in earnest during the 1970s, the JP Group has been working with its business partners to create a nationwide wastepaper collection network that now extends throughout Japan, and in doing so has been contributing to the effective utilization of paper resources. Furthermore, recently in addition to its recovered paper business activities, the JP Group has also been actively investing in paper manufacturing businesses that use recovered paper as their main raw material, resulting in recovered paper resources becoming a strategically important commodity among the items handled by the JP Group.

Moreover, with recovered paper having become an internationally traded commodity and considering the structural changes occurring within Japan’s domestic recycling system, there was an urgent need to create an entity capable of making prompt decisions that bring together each of the businesses and regions involved in the Group’s recovered paper business activities.

As such, on this occasion it was decided to establish a holding company to oversee the recovered paper business activities formerly conducted separately by JP and each of its individual recycling subsidiaries. In establishing this new holding entity, the JP Group will endeavor to further increase the synergies gained from utilizing its Group network and continue its pursuit of more efficient resource recycling.