News Release

Japan Pulp & Paper Co., Ltd. (Head Office: Tokyo; Representative Director, President & CEO: Akihiko Watanabe; hereinafter referred to as “the company”) is pleased to announce that one of its subsidiaries, Gould Paper Corporation (Head Office: New York, New York U.S.A; hereinafter referred to as “OVOL USA”) has acquired 100% of the shares of Shippers Resource Center, Inc. (Head Office: Burnsville, Minnesota, USA; hereinafter referred to as “SRC”) through a stock purchase. SRC’s is engaged in the development and management of logistics systems software and the provision of third-party logistics services, among other activities.

ShippersEdge, the logistics software developed by SRC, excels at reducing costs and improving operational efficiency through the integration of its in-house ERP system with external logistics providers. While OVOL USA had previously utilized ShippersEdge to manage its logistics system, this stock acquisition will enable it to add the sale of SRC’s logistics system to existing clients as well as third-party logistics services to its business. As a result, OVOL USA aims to provide comprehensive, end-to-end services from wholesale to logistics, thereby strengthening its customer partnerships and enhancing business growth.