November 28, 2002

Nippon Unipac Holding Expected to Realize Synergy Effects

Nippon Unipac Holding

Tokyo, November 28, 2002-Nippon Unipac Holding has been making efforts to achieve synergy effects since its foundation in March 2001, as a result of the business integration of Nippon Paper Industries Co., Ltd. and Daishowa Paper Manufacturing Co., Ltd. In June of this year the company estimated the synergy effects for fiscal year 2002 at 23 billion yen, however, a recompiled status report shows that the estimate will be exceeded and reach 26 billion yen due to a further reduction of the raw material costs. This means the company will realize synergy effects of 56 billion yen on an annual basis by fiscal year 2003, including 30 billion yen achieved in fiscal year 2002.
Nippon Paper Industries and Nippon Daishowa Paperboard Co., Ltd. will be inaugurated in April 2003, as a result of the reorganization of the paper and paperboard businesses. With the reorganization, Nippon Unipac Holding will continue to strive to achieve synergy effects, aiming at the goal of Group medium-term vision (Fiscal 2004 - 2006), which was announced today.