Cost rationalization and expansion into new business areas through joint procurement and joint ventures with Chuetsu Pulp & Paper Co., Ltd. and Mitsubishi Paper Mills

A specific partnership initiative launched through a business alliance with Chuetsu Pulp & Paper Co., Ltd. and a subscription to a third-party allotment, involving the establishment of joint ventures in 3 fields, joint procurement by 3 companies including Mitsubishi Paper Mills, procurement cost reductions, and entry into new business areas.