Strengthening synergies in the functional paper business through the acquisition of 日本理化製紙 as a wholly owned subsidiary

「This share exchange …was implemented with 1 April 2022 as the effective date.」

「At a meeting of its Board of Directors held on 21 January 2022, the Company resolved to conduct a share exchange under which the Company would become the wholly owning parent company and 日本理化製紙株式会社, a consolidated subsidiary of the Company, would become a wholly owned subsidiary, and entered into a share exchange agreement with 日本理化製紙株式会社 on the same date. …Going forward, the Company decided to make 日本理化製紙株式会社 a wholly owned subsidiary in order to accelerate the realization of synergies through the effective use of the complementary manufacturing facilities of both companies and the enhancement of the Group's adhesive, coating, and processing technologies, as well as to further improve the agility of Group management. …The transaction is scheduled to take effect on 1 April 2022. …The Company's common shares: 150,880 shares (planned)」