TOKYO, May 11, 2017 (Press Release) -Oji Nepia Co., Ltd. (hereinafter “Oji Nepia”), a wholly -owned subsidiary of Oji Holdings Corporation and Mitsubishi Paper Mills Limited (hereinafter “Mitsubishi Paper”) hereby announce that the companies have agreed to form a joint venture (herein after “the new company”) for the purpose of producing household products in the area of the Hachinohe mill of Mitsubishi Paper.
1. Outline of the business
The new company will install a tissue paper machine and a tissue converting machine in the area of the Hachinohe mill of Mitsubishi Paper (Hachinohe City, Aomori Prefecture). We try to expand the business of household products which is expected stable demand and continue to enhance our corporate value.
2.Outline of the new company
(1) Company name MPM Oji Home Products Co., Ltd.
(2) CEO Keiichi Sato (Executive Officer of Mitsubishi Paper)
(3) Main business Household Products Business
(4) Location Hachinohe City, Aomori Prefecture (in the area of Hachinohe mill of Mitsubishi Paper)
(5) Paid-in capital 80 million yen
(6) Investment ratio Mitsubishi Paper 70%, Oji Nepia 30%
3. Outline of the facility
(1) Products Facial Tissue, Toilet Tissue
(2) Capacity Approx. 18,000 mt per annum
(3) Investment Amount Approx. 5 billion yen
(4) Start of Operation April 2019 (Expected)