April 6, 2001
Remedial Measures under the Antimonopoly Act
Nippon Paper Industries Co., Ltd.
Daishowa Paper Manufacturing, Co., Ltd.
We, Nippon Paper Industries Co., Ltd. (NPI) and Daishowa Paper Mfg. Co., Ltd. (DSW), have just reported to the Fair Trade Commission the specific plan for the divestment of our manufacturing facilities and related business operations equivalent to 500,000 tons of coated paper and woodfree paper to a third party, as an action plan for remedial measures under the Antimonopoly Act.
1. Manufacturing facilities and related business operations to be diveste
NPI will divest its all shares of Otake Paper Mfg. Co. Ltd., one of the subsidiaries, to a third party, of which annual coated paper and woodfree paper production capacity is around 260,000 tons.
DSW will divest 3 off-coaters (#31 and #32 at Honsha Mill Fuji, #30 at Honsha Mill Yoshinaga), of which annual coated paper production capacity is around 240,000 tons, and related business operations to Fuji Coated Paper Co., Ltd. (FCP), wholly owned subsidiary of DSW. After that DSW will divest FCP to a third party.
We will basically look for a buyer who will purchase both of the above aggregately.
2. Schedule of Divestment
In the process of deciding the terms and conditions for divestment of shares, we will negotiate with selected third parties who show interest in purchasing the shares, individually. We would like to nominate a purchaser by the end of March 2002.
Proceeding the course of action, we will pay our best endeavor to mitigate inconvenience for the customers and agents. We would like to implement the remedial measures by the designated deadline, March 31, 2004.