Press ReleasesNippon Paper Industries Announces Transfer of Shares in Kunimoku House
Nippon Paper Industries Co., Ltd.
Nippon Paper Industries Co., Ltd. (President: Fumio Manoshiro; hereinafter "the Company") has announced that the Company has agreed with NAC Co., Ltd. (President: Kan Yoshimura; hereinafter "NAC") on the transfer of all shares in Kunimoku House Co., Ltd. (President: Moritaka Osanai; hereinafter "Kunimoku House"), a consolidated subsidiary of the Company, on June 1, 2017. A stock purchase agreement was concluded today.
Since its establishment in 1972, Kunimoku House, as a medium-sized home builder, has been building and selling houses primarily in Sapporo and Tomakomai, Hokkaido. However, against a backdrop of a decline in demand due to structural factors, including a falling population, Kunimoku House faces the challenge of improving business efficiency. In this environment, the Company has determined that transferring the shares in Kunimoku House to NAC, which is pursuing growth in the housing business, is the best way to facilitate Kunimoku House's development. The share transfer enables the Company to accelerate the concentration of management resources and the transformation of its business structure.
■ Overview of Kunimoku House
| （１）Company name | Kunimoku House Co., Ltd. |
|---|---|
| （２）Head office |
11-1-24 Toyohira 2-jo, Toyohira-ku, Sapporo-shi, Hokkaido |
| （３）Title and name of representative | Moritaka Osanai (Representative Director & President) |
|
（４）Business description |
Contract building of custom-built houses, design and supervision, sales of ready-built houses, sales of housing land, contract renovation, sales of used houses |
| （５）Capital | 20 million yen（100% owned by the Company） |
|
（６）Established |
December 1972 |
■ Overview of NAC
| （１）Company name | NAC Co., Ltd. |
|---|---|
| （２）Head office |
Shinjuku Center Building 42F, 1-25-1 Nishishinjuku, Shinjuku-ku, Tokyo |
| （３）Title and name of representative | Kan Yoshimura (Representative Director & President) |
|
（４）Business description |
Bottled water business, rental business, construction consulting business, housing sales business, mail-order business |
| （５）Capital | 4 billion yen |
|
（６）Established |
May 1971 |