December 21, 2006

Basic Agreement on Transfer of Business of ALVO CORPORATION

Nippon Paper Crecia Co., Ltd.

Nippon Paper Crecia Co., Ltd. (President: Kazuhiro Sakai), a member of the Nippon Paper Group, is pleased to announce that it has adopted a resolution to conclude a basic agreement on the transfer of the business of ALVO CORPORATION, a paper product wholesaler and 54.2% subsidiary, to Chuo Bussan Corporation.
 
Details
 
1. Profile of Subsidiary
Corporate Name: ALVO CORPORATION
Location: 2-9 Nihonbashi Kobunecho, Chuo-ku, Tokyo
Representative: Takeshi Ohnishi, Representative Director and Chairman; Takanori Akieda, Representative Director and President
Date of Incorporation: February 25, 1953
Accounting Date: March 31
Business: Wholesale and sale of paper products, real estate rental
Capital: 40,600,000 yen
 
2. Profile of Transferee
Corporate Name: Chuo Bussan Corporation
Location: 2-2-3 Minami-Aoyama, Minato-ku, Tokyo
Representative: Seiichiro Kojima, Representative Director and President
Date of Incorporation: October 6, 1950
Accounting Date: March 31
Business: Sale of cosmetics, soap, detergent, medication and quasi-drugs, hygiene products, etc., and hotel business
Capital: 1,608,227,000 yen
 
3. Scheduled Date of Transfer of Subsidiary
April 2, 2007