Press ReleasesNippon Paper Group Formulates Its Fifth Medium-Term Business Plan (2015 - 2017)- Creating new value as a comprehensive biomass company shaping the future with trees -

Nippon Paper Industries Co., Ltd.

Nippon Paper Industries Co., Ltd. (President: Fumio Manoshiro; hereinafter, "Nippon Paper　Industries" or "the Company") has formulated its fifth medium-term business plan for three years from this fiscal year (FY2015 - FY2017). In the fourth medium-term business plan, the Company achieved its targets: revitalization after the earthquake and the improvement of its financial position. The Company will actively make an investment to expand business in growth areas and create new businesses, aiming to post operating income of 50.0 billion yen in FY2017.

The theme of the fifth medium-term business plan is continuing to enhance the competitiveness of the existing businesses and change the business structure. Using earnings from the paper and paperboard business in Japan and overseas, the Company will allocate its management resources, including people, goods, money, and information, to growth businesses, such as the energy, chemical, healthcare, and packaging businesses. To accelerate business structure reform, the Company has set ROA (Return on Asset; please refer to the note below) targets to build an effective asset structure.

At the same time as the formulation of the fifth medium-term business plan, the Group stated its mission: supports affluent lifestyles of people around the world and contributes to cultural progress As a comprehensive biomass company shaping the future with trees, we will attempt to create new value.

• Note:ROA = (Ordinary income + Interest expenses) / Total assets